Curi RMB Capital LLC Boosts Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Curi RMB Capital LLC grew its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 5.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,914 shares of the financial services provider's stock after acquiring an additional 26,121 shares during the period. Curi RMB Capital LLC owned 0.64% of Seacoast Banking Co. of Florida worth $14,522,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in SBCF. GAMMA Investing LLC lifted its position in shares of Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider's stock valued at $26,000 after buying an additional 412 shares during the last quarter. Innealta Capital LLC acquired a new stake in Seacoast Banking Co. of Florida in the second quarter valued at approximately $55,000. KBC Group NV grew its holdings in Seacoast Banking Co. of Florida by 30.0% in the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider's stock worth $89,000 after purchasing an additional 768 shares during the last quarter. Algert Global LLC purchased a new position in Seacoast Banking Co. of Florida in the second quarter worth $202,000. Finally, Janney Montgomery Scott LLC increased its position in shares of Seacoast Banking Co. of Florida by 6.0% during the first quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider's stock worth $206,000 after purchasing an additional 460 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on SBCF shares. Hovde Group downgraded Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and boosted their target price for the stock from $29.00 to $31.00 in a research note on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an "outperform" rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating on the stock in a research report on Monday, October 28th. Finally, Stephens raised their price target on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an "equal weight" rating in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Seacoast Banking Co. of Florida has an average rating of "Hold" and a consensus price target of $28.70.

Insider Transactions at Seacoast Banking Co. of Florida

In related news, CEO Charles M. Shaffer sold 21,255 shares of the business's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the completion of the transaction, the chief executive officer now directly owns 126,232 shares in the company, valued at $3,832,403.52. The trade was a 14.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 1.50% of the company's stock.

Seacoast Banking Co. of Florida Stock Performance

NASDAQ SBCF traded down $0.19 during trading hours on Thursday, reaching $29.62. The stock had a trading volume of 677,507 shares, compared to its average volume of 415,730. Seacoast Banking Co. of Florida has a 52-week low of $21.23 and a 52-week high of $30.78. The stock has a fifty day moving average of $27.12 and a 200 day moving average of $25.61. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market cap of $2.53 billion, a P/E ratio of 21.60 and a beta of 1.07.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The business had revenue of $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. During the same period in the prior year, the firm earned $0.37 EPS. The business's revenue for the quarter was up 5.5% on a year-over-year basis. Sell-side analysts predict that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Friday, December 13th will be issued a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.43%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is presently 52.17%.

Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.