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

Tributary Capital Management LLC increased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 44.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 654,854 shares of the financial services provider’s stock after acquiring an additional 201,494 shares during the period. Tributary Capital Management LLC owned approximately 0.77% of Seacoast Banking Co. of Florida worth $18,028,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased 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 purchasing an additional 412 shares during the last quarter. KBC Group NV increased its position in shares of Seacoast Banking Co. of Florida by 30.0% during the third quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 768 shares during the last quarter. Meeder Asset Management Inc. purchased a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $121,000. FMR LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 57.3% in the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $143,000 after acquiring an additional 1,960 shares during the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Seacoast Banking Co. of Florida in the 3rd quarter worth approximately $178,000. Institutional investors and hedge funds own 81.77% of the company’s stock.

Insider Activity

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the transaction, the chief executive officer now owns 126,232 shares of the company’s stock, valued at $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of Seacoast Banking Co. of Florida stock opened at $26.73 on Friday. 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 52-week low of $21.90 and a 52-week high of $31.68. The company has a market capitalization 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 of $28.17 and a 200 day moving average of $27.37.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. The business had revenue of $130.30 million during the quarter, compared to analysts’ expectations of $129.20 million. Seacoast Banking Co. of Florida had a net margin of 14.55% and a return on equity of 5.44%. The company’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 EPS. As a group, research analysts forecast that Seacoast Banking Co. of Florida will post 1.39 EPS for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.69%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Analyst Ratings Changes

Several research analysts have recently commented on SBCF shares. Stephens raised their price target on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Truist Financial dropped their price target 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 note on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $28.70.

Seacoast Banking Co. of Florida Company 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.