Algert Global LLC Boosts Position in Seacoast Banking Corporation of Florida $SBCF

Key Points

• Algert Global LLC significantly increased its holdings in Seacoast Banking Corporation of Florida, raising its stake by 1,164.4% during the 1st quarter, now owning approximately 0.11% of the company valued at $2.5 million.
• Seacoast Banking reported $0.52 earnings per share for the last quarter, surpassing analyst expectations of $0.42, with revenues reaching $151.4 million.
• The company recently announced a quarterly dividend of $0.18 per share, reflecting an annualized dividend yield of 2.4%, with a payout ratio of 44.17%.

Algert Global LLC boosted its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 1,164.4% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 97,447 shares of the financial services provider's stock after acquiring an additional 89,740 shares during the period. Algert Global LLC owned about 0.11% of Seacoast Banking Corporation of Florida worth $2,507,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in SBCF. Opal Wealth Advisors LLC purchased a new position in Seacoast Banking Corporation of Florida in the 1st quarter valued at about $27,000. IFP Advisors Inc boosted its holdings in Seacoast Banking Corporation of Florida by 343.9% in the 1st 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 last quarter. GAMMA Investing LLC boosted its holdings in Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $43,000 after buying an additional 460 shares during the last quarter. CWM LLC boosted its holdings in Seacoast Banking Corporation of Florida by 61.6% in the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider's stock worth $68,000 after buying an additional 1,004 shares during the last quarter. Finally, Sterling Capital Management LLC boosted its holdings in Seacoast Banking Corporation of Florida by 811.6% in the 4th quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock worth $73,000 after buying an additional 2,370 shares during the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. 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. Keefe, Bruyette & Woods raised their price target on shares of 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. Hovde Group raised their price target on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the stock a "market perform" rating in a research note on Wednesday, June 4th. 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 on the stock in a research note 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 note on Thursday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $29.40.

Seacoast Banking Corporation of Florida Trading Down 0.2%

Shares of NASDAQ SBCF traded down $0.0650 during midday trading on Monday, reaching $30.9050. 205,839 shares of the stock were exchanged, compared to its average volume of 519,263. The company has a 50 day simple moving average of $28.18 and a 200 day simple moving average of $26.48. 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 stock has a market capitalization of $2.72 billion, a P/E ratio of 18.96 and a beta of 0.98. Seacoast Banking Corporation of Florida has a twelve month low of $21.36 and a twelve month high of $31.68.

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

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be given 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 payout ratio is currently 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.