Curi RMB Capital LLC Raises Stock Position in Seacoast Banking Corporation of Florida $SBCF

Key Points

• Curi RMB Capital LLC increased its stake in Seacoast Banking Corporation of Florida by 4.5%, owning approximately 0.67% of the company with a value of $14.83 million.
• Seacoast Banking reported $0.52 EPS for the last quarter, exceeding the consensus estimate by $0.10, alongside revenues of $151.40 million.
• A quarterly dividend of $0.18 was declared, reflecting a 2.3% yield, payable on September 30th to stockholders of record on September 15th.

Curi RMB Capital LLC grew its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 576,469 shares of the financial services provider's stock after acquiring an additional 24,690 shares during the quarter. Curi RMB Capital LLC owned about 0.67% of Seacoast Banking Corporation of Florida worth $14,833,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SBCF. GAMMA Investing LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after purchasing an additional 460 shares during the period. HighTower Advisors LLC raised its holdings in Seacoast Banking Corporation of Florida by 7.0% in the 1st quarter. HighTower Advisors LLC now owns 10,149 shares of the financial services provider's stock valued at $261,000 after buying an additional 663 shares during the period. Comerica Bank lifted its position in Seacoast Banking Corporation of Florida by 2.6% in the fourth quarter. Comerica Bank now owns 37,173 shares of the financial services provider's stock valued at $1,023,000 after buying an additional 946 shares during the last quarter. IFP Advisors Inc boosted its stake in Seacoast Banking Corporation of Florida by 343.9% during the first quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider's stock worth $33,000 after buying an additional 994 shares during the period. Finally, CWM LLC increased its position in shares of Seacoast Banking Corporation of Florida by 61.6% during the first quarter. CWM LLC now owns 2,635 shares of the financial services provider's stock valued at $68,000 after acquiring an additional 1,004 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Stock Down 0.9%

SBCF stock traded down $0.27 during mid-day trading on Monday, reaching $31.08. The company had a trading volume of 572,173 shares, compared to its average volume of 523,099. The firm has a fifty day simple moving average of $29.27 and a 200 day simple moving average of $26.61. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 19.07 and a beta of 0.98. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $32.09.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.42 by $0.10. The firm had revenue of $151.40 million for the quarter, compared to analyst estimates of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same period in the prior year, the firm earned $0.36 earnings per share. Analysts forecast 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is presently 44.17%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports 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 note on Saturday, July 26th. Hovde Group raised their price target on Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research report on Wednesday, June 4th. Zacks Research upgraded Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Finally, Keefe, Bruyette & Woods increased their target price on Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.