Seacoast Banking Corporation of Florida $SBCF Shares Acquired by AM Investment Strategies LLC

Key Points

• AM Investment Strategies LLC increased its holdings in Seacoast Banking Corporation of Florida by 16.7% during Q2, now owning approximately 70,950 shares valued at about $1.96 million.
• Seacoast Banking reported a beat on earnings for the last quarter, with $0.52 earnings per share surpassing estimates of $0.42, alongside a revenue of $151.40 million.
• The company announced a quarterly dividend of $0.18 per share, with an annualized yield of 2.4%, with the ex-dividend date set for September 15th.

AM Investment Strategies LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 16.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,950 shares of the financial services provider's stock after purchasing an additional 10,144 shares during the quarter. AM Investment Strategies LLC owned about 0.08% of Seacoast Banking Corporation of Florida worth $1,959,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in SBCF. Opal Wealth Advisors LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter worth about $27,000. IFP Advisors Inc lifted its position in shares of 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 purchasing an additional 994 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of 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 worth $43,000 after purchasing an additional 460 shares in the last quarter. CWM LLC raised its holdings in Seacoast Banking Corporation of Florida by 61.6% in 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 in the last quarter. Finally, MQS Management LLC acquired a new stake in Seacoast Banking Corporation of Florida in the first quarter valued at approximately $244,000. Institutional investors and hedge funds own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF opened at $30.58 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. The firm has a market cap of $2.69 billion, a PE ratio of 18.76 and a beta of 0.98. The company's 50 day simple moving average is $29.69 and its 200-day simple moving average is $26.88. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $32.09.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The financial services provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates 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 period last year, the firm posted $0.36 EPS. As a group, equities analysts predict 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 disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 15th will be given a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.4%. The ex-dividend date is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is 44.17%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on SBCF shares. Zacks Research raised shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a report on Thursday, August 21st. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a "sell" rating to a "hold" rating in a report on Saturday, July 26th. Hovde Group raised 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 report on Wednesday, June 4th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $29.40.

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.

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