Tributary Capital Management LLC Decreases Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Tributary Capital Management LLC lowered its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 12.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 453,360 shares of the financial services provider's stock after selling 67,395 shares during the period. Tributary Capital Management LLC owned about 0.53% of Seacoast Banking Co. of Florida worth $12,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider's stock worth $26,000 after acquiring an additional 412 shares in the last quarter. Innealta Capital LLC acquired a new position in Seacoast Banking Co. of Florida during the second quarter worth approximately $55,000. Janney Montgomery Scott LLC increased its position in 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 buying an additional 460 shares during the period. Xcel Wealth Management LLC acquired a new position in Seacoast Banking Co. of Florida during the third quarter worth approximately $223,000. Finally, Algert Global LLC acquired a new position in Seacoast Banking Co. of Florida during the second quarter worth approximately $202,000. Institutional investors and hedge funds own 81.77% of the company's stock.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock traded up $0.89 during trading on Monday, reaching $27.22. The company's stock had a trading volume of 328,263 shares, compared to its average volume of 410,109. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a 12-month low of $19.90 and a 12-month high of $29.98. The company has a market capitalization of $2.31 billion, a P/E ratio of 19.72 and a beta of 1.07. The business has a 50 day moving average price of $26.75 and a 200-day moving average price of $25.14.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting analysts' consensus estimates of $0.36. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The firm had revenue of $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. During the same period in the previous year, the business earned $0.37 earnings per share. The company's revenue for the quarter was up 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.43 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 31st. Investors of record on Friday, December 13th will be paid a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.65%. Seacoast Banking Co. of Florida's dividend payout ratio (DPR) is presently 52.17%.

Analyst Ratings Changes

Several research firms have commented on SBCF. Truist Financial cut their price target on 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. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $31.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, August 21st. Hovde Group downgraded Seacoast Banking Co. of Florida from an "outperform" rating to a "market perform" rating and lifted their target price for the company from $29.00 to $31.00 in a research note on Monday, July 29th. Finally, Stephens lifted their target price on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the company an "equal weight" rating in a research note on Monday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida presently has a consensus rating of "Hold" and a consensus target price of $28.70.

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.