Tributary Capital Management LLC Acquires 98,900 Shares of Seacoast Banking Corporation of Florida $SBCF

Key Points

• Tributary Capital Management LLC increased its stake in Seacoast Banking Corporation of Florida by 15.6%, acquiring 98,900 additional shares, bringing its total holdings to 732,034 shares valued at approximately $20.2 million.
• Despite a recent stock price decrease of 0.4%, Seacoast Banking Corporation of Florida's shares have a market capitalization of $2.65 billion and a P/E ratio of 18.47.
• Recent analyst ratings include a upgrade to "strong-buy" from Zacks Research, with a consensus price target of $29.80 from a mix of ratings, indicating positive sentiment around the stock's performance.

Tributary Capital Management LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 15.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 732,034 shares of the financial services provider's stock after acquiring an additional 98,900 shares during the quarter. Seacoast Banking Corporation of Florida makes up 1.8% of Tributary Capital Management LLC's portfolio, making the stock its 19th biggest position. Tributary Capital Management LLC owned 0.85% of Seacoast Banking Corporation of Florida worth $20,219,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in shares of Seacoast Banking Corporation of Florida by 2.8% during the first quarter. Principal Financial Group Inc. now owns 422,306 shares of the financial services provider's stock valued at $10,866,000 after acquiring an additional 11,674 shares in the last quarter. GAMMA Investing LLC raised its holdings 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 valued at $43,000 after acquiring an additional 460 shares in the last quarter. Orca Wealth Management LLC bought a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at approximately $445,000. Teacher Retirement System of Texas bought a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at approximately $410,000. Finally, Intech Investment Management LLC grew its stake in Seacoast Banking Corporation of Florida by 36.5% in the first quarter. Intech Investment Management LLC now owns 91,340 shares of the financial services provider's stock worth $2,350,000 after purchasing an additional 24,408 shares during the period. Institutional investors own 81.77% of the company's stock.

Seacoast Banking Corporation of Florida Trading Down 0.4%

NASDAQ SBCF opened at $30.11 on Thursday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $32.33. The stock has a market cap of $2.65 billion, a P/E ratio of 18.47 and a beta of 0.94. The stock's fifty day moving average price is $30.57 and its 200-day moving average price is $27.59.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 6.65% and a net margin of 16.63%.The company had revenue of $83.85 million for the quarter. As a group, equities analysts forecast that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

SBCF has been the topic of several recent research reports. Zacks Research raised Seacoast Banking Corporation of Florida from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Keefe, Bruyette & Woods upped their price target 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. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, October 8th. Raymond James Financial set a $33.00 target price on Seacoast Banking Corporation of Florida and gave the stock an "outperform" rating in a research note on Tuesday, October 7th. 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 issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $29.80.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.