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Tributary Capital Management LLC Sells 21,720 Shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Seacoast Banking Corporation of Florida logo with Finance background

Tributary Capital Management LLC trimmed its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 3.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 633,134 shares of the financial services provider's stock after selling 21,720 shares during the quarter. Tributary Capital Management LLC owned approximately 0.74% of Seacoast Banking Corporation of Florida worth $16,291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in SBCF. Envestnet Portfolio Solutions Inc. lifted its stake in Seacoast Banking Corporation of Florida by 3.4% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,554 shares of the financial services provider's stock valued at $318,000 after buying an additional 380 shares during the period. Mariner LLC increased its holdings in shares of Seacoast Banking Corporation of Florida by 2.8% in the fourth quarter. Mariner LLC now owns 15,132 shares of the financial services provider's stock worth $417,000 after acquiring an additional 407 shares in the last quarter. GAMMA Investing LLC grew 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 worth $43,000 after buying an additional 460 shares in the last quarter. Synovus Financial Corp grew its holdings in shares of Seacoast Banking Corporation of Florida by 1.6% during the fourth quarter. Synovus Financial Corp now owns 33,235 shares of the financial services provider's stock worth $915,000 after buying an additional 539 shares in the last quarter. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 6.8% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,838 shares of the financial services provider's stock worth $243,000 after buying an additional 562 shares in the last quarter. Institutional investors and hedge funds own 81.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Keefe, Bruyette & Woods raised their price target on Seacoast Banking Corporation of Florida from $31.00 to $32.00 and gave the company an "outperform" rating in a research note on Monday, June 2nd. Hovde Group raised their price objective on 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. Wall Street Zen lowered Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a research note on Friday, May 16th. Finally, Stephens decreased their price target on 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. One equities research 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's stock. Based on data from MarketBeat.com, Seacoast Banking Corporation of Florida presently has an average rating of "Hold" and an average target price of $29.20.

View Our Latest Report on SBCF

Seacoast Banking Corporation of Florida Price Performance

Shares of SBCF stock traded down $0.03 on Friday, reaching $29.17. The company's stock had a trading volume of 587,416 shares, compared to its average volume of 450,923. The stock's 50 day simple moving average is $26.60 and its 200-day simple moving average is $26.24. Seacoast Banking Corporation of Florida has a 12-month low of $21.36 and a 12-month high of $31.68. 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 company has a market capitalization of $2.51 billion, a P/E ratio of 19.58 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.02). The company had revenue of $140.70 million for the quarter, compared to the consensus estimate 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 firm's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, equities analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a $0.18 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $0.72 annualized dividend and a yield of 2.47%. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is presently 48.32%.

Seacoast Banking Corporation of Florida Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

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