Tributary Capital Management LLC Has $16.29 Million Position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Tributary Capital Management LLC cut its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Free Report) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the 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 about 0.74% of Seacoast Banking Corporation of Florida worth $16,291,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBCF. Opal Wealth Advisors LLC bought a new position in Seacoast Banking Corporation of Florida in the first quarter valued at approximately $27,000. GAMMA Investing LLC boosted its stake in Seacoast Banking Corporation of Florida by 38.0% in 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 during the last quarter. CWM LLC boosted its stake 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 during the last quarter. Sterling Capital Management LLC boosted its stake in Seacoast Banking Corporation of Florida by 811.6% in the fourth quarter. Sterling Capital Management LLC now owns 2,662 shares of the financial services provider's stock valued at $73,000 after acquiring an additional 2,370 shares during the last quarter. Finally, Algert Global LLC bought a new position in Seacoast Banking Corporation of Florida in the fourth quarter valued at approximately $212,000. 81.77% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on SBCF shares. Hovde Group raised their price objective on shares of Seacoast Banking Corporation of Florida from $27.00 to $29.00 and gave the company a "market perform" rating in a research note on Wednesday, June 4th. Keefe, Bruyette & Woods increased their target price on shares of 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. Stephens cut their target price 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 report on Monday, April 28th. Finally, Wall Street Zen lowered shares of Seacoast Banking Corporation of Florida from a "hold" rating to a "sell" rating in a report on Friday, May 16th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $29.20.

Seacoast Banking Corporation of Florida Stock Down 0.1%

SBCF stock traded down $0.03 during trading hours on Friday, reaching $29.17. 587,416 shares of the stock were exchanged, compared to its average volume of 452,512. The firm's 50-day moving average is $26.51 and its 200-day moving average is $26.24. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 19.58 and a beta of 0.94. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.85 and a quick ratio of 0.85. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $31.68.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF - Get Free Report) last released its earnings results 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 firm 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 return on equity of 6.11% and a net margin of 15.44%. The company's revenue was up 12.0% on a year-over-year basis. On average, equities research 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 company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.47%. The ex-dividend date of this dividend is Monday, September 15th. Seacoast Banking Corporation of Florida's dividend payout ratio (DPR) is presently 48.32%.

About Seacoast Banking Corporation of Florida

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.