Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Acquired by Tributary Capital Management LLC

Tributary Capital Management LLC grew its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 44.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 654,854 shares of the financial services provider's stock after purchasing an additional 201,494 shares during the quarter. Tributary Capital Management LLC owned about 0.77% of Seacoast Banking Co. of Florida worth $18,028,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in the business. Wellington Management Group LLP grew its holdings in shares of Seacoast Banking Co. of Florida by 7.9% during the third quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock valued at $111,144,000 after buying an additional 305,843 shares during the last quarter. abrdn plc raised its stake in shares of Seacoast Banking Co. of Florida by 10.9% in the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider's stock worth $29,914,000 after purchasing an additional 110,582 shares during the last quarter. Barclays PLC raised its stake in shares of Seacoast Banking Co. of Florida by 112.0% in the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider's stock worth $4,754,000 after purchasing an additional 94,242 shares during the last quarter. Ceredex Value Advisors LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 24.2% during the third quarter. Ceredex Value Advisors LLC now owns 470,954 shares of the financial services provider's stock worth $12,551,000 after purchasing an additional 91,900 shares during the period. Finally, Sei Investments Co. boosted its position in Seacoast Banking Co. of Florida by 36.7% in the second quarter. Sei Investments Co. now owns 281,601 shares of the financial services provider's stock valued at $6,657,000 after buying an additional 75,605 shares during the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Charles M. Shaffer sold 21,255 shares of the company's stock in a transaction on Monday, November 11th. The shares were sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the sale, the chief executive officer now owns 126,232 shares of the company's stock, valued at $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.50% of the stock is currently owned by insiders.

Seacoast Banking Co. of Florida Stock Performance

SBCF remained flat at $26.73 on Friday. 273,583 shares of the company's stock were exchanged, compared to its average volume of 288,566. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a market cap of $2.28 billion, a P/E ratio of 19.37 and a beta of 1.09. The company has a 50-day moving average price of $28.17 and a 200-day moving average price of $27.39.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.36. The firm had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The business's revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 EPS. As a group, analysts predict that Seacoast Banking Co. of Florida will post 1.39 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date of this dividend is Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio is presently 52.17%.

Wall Street Analyst Weigh In

Several brokerages have commented on SBCF. Stephens lifted their price objective on shares of 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, October 28th. Truist Financial decreased their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a "hold" rating for the company in a research report on Monday, October 28th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of "Hold" and a consensus target price of $28.70.

Seacoast Banking Co. of Florida Profile

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.