Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Shares Acquired by GAMMA Investing LLC

GAMMA Investing LLC raised its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 3,451.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,969 shares of the financial services provider's stock after acquiring an additional 41,759 shares during the quarter. GAMMA Investing LLC owned approximately 0.05% of Seacoast Banking Corporation of Florida worth $1,106,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC raised its stake in shares of Seacoast Banking Corporation of Florida by 154.0% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,120 shares of the financial services provider's stock valued at $31,000 after purchasing an additional 679 shares in the last quarter. Kestra Investment Management LLC bought a new stake in Seacoast Banking Corporation of Florida in the fourth quarter valued at about $34,000. Sterling Capital Management LLC raised its stake in Seacoast Banking Corporation of Florida by 811.6% during the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock valued at $73,000 after buying an additional 2,370 shares in the last quarter. Venturi Wealth Management LLC acquired a new stake in Seacoast Banking Corporation of Florida during the fourth quarter valued at approximately $76,000. Finally, Inceptionr LLC bought a new position in Seacoast Banking Corporation of Florida during the 4th quarter worth approximately $200,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Corporation of Florida Stock Performance

SBCF stock traded up $0.23 during mid-day trading on Thursday, reaching $24.85. The company had a trading volume of 514,943 shares, compared to its average volume of 434,627. Seacoast Banking Corporation of Florida has a one year low of $21.36 and a one year high of $31.68. The stock has a market capitalization of $2.14 billion, a P/E ratio of 16.68 and a beta of 0.92. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.26. The stock's 50-day simple moving average is $24.58 and its two-hundred day simple moving average is $26.31.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.02). The firm had revenue of $140.70 million during the quarter, compared to the consensus estimate of $138.41 million. Seacoast Banking Corporation of Florida had a net margin of 15.44% and a return on equity of 6.11%. The company's revenue was up 12.0% on a year-over-year basis. Research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Friday, June 13th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.90%. Seacoast Banking Corporation of Florida's payout ratio is currently 48.32%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wall Street Zen lowered Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research report on Friday, May 16th. Hovde Group boosted their target price 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 note on Wednesday, June 4th. Keefe, Bruyette & Woods increased their target price on shares of Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Monday, June 2nd. Finally, Stephens decreased their price target 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 report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $29.20.

Seacoast Banking Corporation of Florida Company Profile

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.