GAMMA Investing LLC Acquires 412 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

GAMMA Investing LLC increased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 73.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 973 shares of the financial services provider’s stock after buying an additional 412 shares during the period. GAMMA Investing LLC’s holdings in Seacoast Banking Co. of Florida were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of SBCF. Vanguard Group Inc. boosted its holdings in shares of Seacoast Banking Co. of Florida by 3.5% in the 4th quarter. Vanguard Group Inc. now owns 6,030,200 shares of the financial services provider’s stock valued at $171,619,000 after buying an additional 206,002 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Seacoast Banking Co. of Florida by 64.4% during the first quarter. BNP Paribas Financial Markets now owns 42,118 shares of the financial services provider’s stock worth $1,069,000 after purchasing an additional 16,493 shares in the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock valued at $206,000 after purchasing an additional 460 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Seacoast Banking Co. of Florida in the 1st quarter worth $348,000. Finally, GSA Capital Partners LLP purchased a new position in Seacoast Banking Co. of Florida during the 1st quarter worth $1,325,000. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Analysts Set New Price Targets

SBCF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $31.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Truist Financial boosted their target price on shares of Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price target for the stock from $29.00 to $31.00 in a report on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and a consensus price target of $29.88.

Seacoast Banking Co. of Florida Stock Down 2.1 %

SBCF stock opened at $27.83 on Friday. The company has a market capitalization of $2.36 billion, a P/E ratio of 19.88 and a beta of 1.07. Seacoast Banking Co. of Florida has a 12 month low of $19.04 and a 12 month high of $29.98. The firm’s fifty day simple moving average is $26.64 and its 200-day simple moving average is $25.03. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.86 and a quick ratio of 0.86.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, beating the consensus estimate of $0.34 by $0.02. The company had revenue of $201.99 million for the quarter, compared to analyst estimates of $126.00 million. Seacoast Banking Co. of Florida had a net margin of 14.84% and a return on equity of 5.58%. During the same period in the prior year, the company earned $0.37 earnings per share. As a group, equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.43 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 Tuesday, December 31st. Shareholders of record on Friday, December 13th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.59%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is presently 51.43%.

Seacoast Banking Co. of Florida Company 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.