Salzhauer Michael Trims Stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Salzhauer Michael decreased its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 10.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 184,614 shares of the financial services provider's stock after selling 22,067 shares during the period. Seacoast Banking Corporation of Florida comprises approximately 1.9% of Salzhauer Michael's holdings, making the stock its 11th largest holding. Salzhauer Michael owned approximately 0.22% of Seacoast Banking Corporation of Florida worth $4,750,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of SBCF. Opal Wealth Advisors LLC bought a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at about $27,000. Smartleaf Asset Management LLC boosted its position in Seacoast Banking Corporation of Florida by 154.0% during the fourth 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. GAMMA Investing LLC boosted its position in Seacoast Banking Corporation of Florida by 38.0% during the first quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock valued at $43,000 after purchasing an additional 460 shares in the last quarter. Sterling Capital Management LLC boosted its position 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 purchasing an additional 2,370 shares in the last quarter. Finally, Inceptionr LLC bought a new stake in Seacoast Banking Corporation of Florida during the fourth quarter valued at about $200,000. Hedge funds and other institutional investors own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of NASDAQ:SBCF traded up $0.80 during trading on Friday, hitting $27.48. The stock had a trading volume of 1,922,840 shares, compared to its average volume of 442,923. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of 18.44 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 has a 50-day simple moving average of $25.07 and a two-hundred day simple moving average of $26.08.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $140.70 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.62%. The ex-dividend date is Friday, June 13th. Seacoast Banking Corporation of Florida's dividend payout ratio is currently 48.32%.

Analyst Ratings Changes

SBCF has been the topic of a number of recent research reports. Hovde Group raised their price objective on 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. Wall Street Zen downgraded Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. Keefe, Bruyette & Woods raised their price target on 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 lowered their price target on 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 investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and an average target price 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.