Relyea Zuckerberg Hanson LLC Cuts Position in Seacoast Banking Corporation of Florida $SBCF

Relyea Zuckerberg Hanson LLC reduced its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 28.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 13,520 shares of the financial services provider’s stock after selling 5,390 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Seacoast Banking Corporation of Florida were worth $373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in SBCF. GAMMA Investing LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 3,451.2% in the first quarter. GAMMA Investing LLC now owns 42,969 shares of the financial services provider’s stock valued at $1,106,000 after purchasing an additional 41,759 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida during the 1st quarter valued at approximately $471,000. Handelsbanken Fonder AB boosted its stake in shares of Seacoast Banking Corporation of Florida by 23.3% during the 1st quarter. Handelsbanken Fonder AB now owns 20,609 shares of the financial services provider’s stock worth $530,000 after acquiring an additional 3,900 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Seacoast Banking Corporation of Florida in the 1st quarter worth approximately $27,000. Finally, Illinois Municipal Retirement Fund increased its stake in Seacoast Banking Corporation of Florida by 4.0% in the 1st quarter. Illinois Municipal Retirement Fund now owns 47,334 shares of the financial services provider’s stock valued at $1,218,000 after purchasing an additional 1,826 shares in the last quarter. 81.77% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have commented on SBCF. Wall Street Zen upgraded Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Saturday, September 27th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $29.40.

Seacoast Banking Corporation of Florida Trading Up 1.8%

Seacoast Banking Corporation of Florida stock opened at $31.47 on Tuesday. The stock has a 50-day moving average price of $29.99 and a 200 day moving average price of $27.19. Seacoast Banking Corporation of Florida has a 52 week low of $21.36 and a 52 week high of $32.33. The stock has a market cap of $2.76 billion, a PE ratio of 19.31 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, July 24th. The financial services provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.10. The company had revenue of $151.40 million for the quarter, compared to analysts’ expectations of $146.08 million. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. During the same period last year, the company earned $0.36 EPS. Equities research analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 15th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend was Monday, September 15th. Seacoast Banking Corporation of Florida’s payout ratio is presently 44.17%.

Seacoast Banking Corporation 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.