Graham Capital Management L.P. Purchases Shares of 42,624 Seacoast Banking Corporation of Florida $SBCF

Key Points

• Graham Capital Management L.P. acquired a new stake in Seacoast Banking Corporation of Florida, purchasing 42,624 shares valued at approximately $1,097,000 during the first quarter.
• Analysts have recently upgraded Seacoast Banking Corporation of Florida's stock rating, with Zacks Research raising it from "hold" to "strong-buy" and new price targets set between $29.00 and $33.00.
• The company announced a quarterly dividend of $0.18 per share, with a yield of 2.3%, to be paid on September 30th to stockholders of record on September 15th.

Graham Capital Management L.P. bought a new stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 42,624 shares of the financial services provider's stock, valued at approximately $1,097,000.

A number of other large investors also recently modified their holdings of SBCF. Ieq Capital LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth about $277,000. Ceredex Value Advisors LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 1.3% in the 1st quarter. Ceredex Value Advisors LLC now owns 509,794 shares of the financial services provider's stock valued at $13,117,000 after purchasing an additional 6,590 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Seacoast Banking Corporation of Florida by 14.0% during the first quarter. Synovus Financial Corp now owns 37,877 shares of the financial services provider's stock worth $975,000 after purchasing an additional 4,642 shares during the last quarter. AlphaQuest LLC boosted its holdings in Seacoast Banking Corporation of Florida by 37.3% in the first quarter. AlphaQuest LLC now owns 29,049 shares of the financial services provider's stock valued at $747,000 after acquiring an additional 7,892 shares during the last quarter. Finally, Aptus Capital Advisors LLC lifted its position in Seacoast Banking Corporation of Florida by 12.7% during the 1st quarter. Aptus Capital Advisors LLC now owns 346,631 shares of the financial services provider's stock valued at $8,919,000 after purchasing an additional 39,175 shares during the period. 81.77% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. 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. 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, August 21st. 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. Finally, Wall Street Zen raised Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $29.40.

Seacoast Banking Corporation of Florida Price Performance

Shares of NASDAQ:SBCF traded down $0.25 during trading on Monday, reaching $31.10. 373,917 shares of the company's stock traded hands, compared to its average volume of 521,809. The firm has a market cap of $2.73 billion, a PE 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. The company has a 50-day simple moving average of $29.27 and a 200-day simple moving average of $26.61. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.36.

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 EPS for the quarter, beating the consensus estimate of $0.42 by $0.10. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The firm had revenue of $151.40 million for the quarter, compared to analyst estimates of $146.08 million. During the same quarter in the previous year, the company earned $0.36 EPS. As a group, analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors 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 annualized dividend and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida's dividend payout ratio is presently 44.17%.

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.