Aptus Capital Advisors LLC Buys 39,175 Shares of Seacoast Banking Corporation of Florida $SBCF

Key Points

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Aptus Capital Advisors LLC boosted its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 12.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 346,631 shares of the financial services provider's stock after acquiring an additional 39,175 shares during the quarter. Aptus Capital Advisors LLC owned 0.40% of Seacoast Banking Corporation of Florida worth $8,919,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. North Reef Capital Management LP increased its stake in Seacoast Banking Corporation of Florida by 3.7% during the fourth quarter. North Reef Capital Management LP now owns 4,230,000 shares of the financial services provider's stock worth $116,452,000 after acquiring an additional 150,000 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Seacoast Banking Corporation of Florida by 0.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,985,685 shares of the financial services provider's stock valued at $82,195,000 after purchasing an additional 16,214 shares in the last quarter. Westwood Holdings Group Inc. increased its holdings in Seacoast Banking Corporation of Florida by 27.7% in the 1st quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider's stock valued at $73,834,000 after purchasing an additional 622,709 shares in the last quarter. Deprince Race & Zollo Inc. increased its holdings in Seacoast Banking Corporation of Florida by 0.7% in the 4th quarter. Deprince Race & Zollo Inc. now owns 2,011,523 shares of the financial services provider's stock valued at $55,377,000 after purchasing an additional 14,536 shares in the last quarter. Finally, Segall Bryant & Hamill LLC increased its holdings in Seacoast Banking Corporation of Florida by 3.2% in the 1st quarter. Segall Bryant & Hamill LLC now owns 1,916,743 shares of the financial services provider's stock valued at $49,318,000 after purchasing an additional 58,560 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ SBCF traded up $1.80 during trading hours on Friday, reaching $30.97. The company's stock had a trading volume of 1,264,864 shares, compared to its average volume of 686,193. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $28.18 and a 200 day simple moving average of $26.52. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $31.68. The stock has a market cap of $2.72 billion, a PE ratio of 19.00 and a beta of 0.98.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.The company had revenue of $151.40 million for the quarter, compared to analysts' expectations of $146.08 million. During the same quarter in the previous year, the company posted $0.36 earnings per share. Equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.18 per share. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is 44.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research report on Saturday, July 26th. Hovde Group upped their price objective on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research report on Wednesday, June 4th. Keefe, Bruyette & Woods upped their price objective on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Stephens decreased their price objective on shares of Seacoast Banking Corporation of Florida from $28.00 to $26.00 and set an "equal weight" rating for the company in a research report on Monday, April 28th. Finally, Zacks Research raised shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida has an average rating of "Moderate Buy" and a consensus target price of $29.40.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.