Seacoast Banking Corporation of Florida $SBCF Shares Purchased by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust raised its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 138.7% in the first quarter, Holdings Channel.com reports. The fund owned 326,516 shares of the financial services provider’s stock after buying an additional 189,714 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in Seacoast Banking Corporation of Florida were worth $9,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Seacoast Banking Corporation of Florida by 11.1% in the 4th quarter. Vanguard Group Inc. now owns 7,088,869 shares of the financial services provider’s stock worth $222,732,000 after purchasing an additional 705,554 shares during the period. North Reef Capital Management LP grew its holdings in shares of Seacoast Banking Corporation of Florida by 16.8% during the 4th quarter. North Reef Capital Management LP now owns 5,832,075 shares of the financial services provider’s stock worth $183,244,000 after purchasing an additional 837,075 shares during the period. Wellington Management Group LLP grew its holdings in shares of Seacoast Banking Corporation of Florida by 58.6% during the 3rd quarter. Wellington Management Group LLP now owns 5,482,250 shares of the financial services provider’s stock worth $166,825,000 after purchasing an additional 2,025,988 shares during the period. State Street Corp increased its position in Seacoast Banking Corporation of Florida by 1.4% during the 4th quarter. State Street Corp now owns 4,610,754 shares of the financial services provider’s stock worth $144,870,000 after purchasing an additional 64,986 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in Seacoast Banking Corporation of Florida by 3.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 3,098,370 shares of the financial services provider’s stock worth $94,284,000 after purchasing an additional 95,529 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Seacoast Banking Corporation of Florida

In related news, CEO Charles M. Shaffer sold 10,367 shares of the firm’s stock in a transaction on Monday, May 4th. The shares were sold at an average price of $30.88, for a total transaction of $320,132.96. Following the completion of the sale, the chief executive officer directly owned 174,113 shares of the company’s stock, valued at approximately $5,376,609.44. This trade represents a 5.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dennis S. Hudson III sold 4,000 shares of Seacoast Banking Corporation of Florida stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $34.00, for a total transaction of $136,000.00. Following the sale, the director directly owned 216,854 shares in the company, valued at $7,373,036. This trade represents a 1.81% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 29,919 shares of company stock valued at $942,733. Corporate insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

SBCF has been the topic of a number of recent research reports. Weiss Ratings raised shares of Seacoast Banking Corporation of Florida from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, June 30th. Piper Sandler increased their price objective on shares of Seacoast Banking Corporation of Florida from $32.50 to $34.00 and gave the stock a “neutral” rating in a research report on Monday, June 22nd. Finally, Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $35.00.

Seacoast Banking Corporation of Florida Stock Performance

Seacoast Banking Corporation of Florida stock opened at $32.97 on Tuesday. The firm has a market capitalization of $3.21 billion, a PE ratio of 21.69 and a beta of 0.85. Seacoast Banking Corporation of Florida has a one year low of $27.22 and a one year high of $35.55. The stock’s 50 day moving average price is $31.25 and its 200 day moving average price is $31.82. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.78 and a current ratio of 0.78.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Tuesday, April 28th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. The company had revenue of $205.10 million during the quarter, compared to the consensus estimate of $205.51 million. Seacoast Banking Corporation of Florida had a net margin of 14.42% and a return on equity of 8.23%. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 45.8% on a year-over-year basis. During the same quarter last year, the company earned $0.38 earnings per share. As a group, sell-side analysts expect that Seacoast Banking Corporation of Florida will post 2.51 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, June 15th were paid a $0.19 dividend. The ex-dividend date was Monday, June 15th. This represents a $0.76 annualized dividend and a dividend yield of 2.3%. Seacoast Banking Corporation of Florida’s dividend payout ratio is 50.00%.

Seacoast Banking Corporation of Florida Profile

Seacoast Banking Corporation of Florida operates as a bank holding company through its principal subsidiary, Seacoast National Bank. Headquartered in Stuart, Florida, Seacoast National Bank provides a full range of commercial and retail banking services across the coastal region of Florida. Its network of branches serves customers from Martin County through Miami-Dade County, offering deposit accounts, lending solutions, cash management and payment services to individuals, small businesses and middle-market companies.

In addition to traditional banking, Seacoast offers specialized mortgage lending and wealth management services.