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

RMB Capital Management LLC boosted its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 481,952 shares of the financial services provider’s stock after buying an additional 2,829 shares during the quarter. RMB Capital Management LLC owned 0.57% of Seacoast Banking Co. of Florida worth $13,716,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in SBCF. GAMMA Investing LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter worth approximately $25,000. Good Life Advisors LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the fourth quarter valued at $205,000. Xcel Wealth Management LLC acquired a new stake in shares of Seacoast Banking Co. of Florida during the fourth quarter valued at $238,000. Envestnet Portfolio Solutions Inc. purchased a new stake in Seacoast Banking Co. of Florida during the 3rd quarter worth about $242,000. Finally, Diversified Trust Co raised its stake in Seacoast Banking Co. of Florida by 5.8% in the 4th quarter. Diversified Trust Co now owns 13,154 shares of the financial services provider’s stock valued at $374,000 after purchasing an additional 718 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Co. of Florida Trading Up 0.8 %

Shares of Seacoast Banking Co. of Florida stock traded up $0.17 during trading hours on Tuesday, hitting $22.45. The company’s stock had a trading volume of 160,150 shares, compared to its average volume of 393,799. The business has a fifty day moving average of $23.46 and a 200 day moving average of $24.87. Seacoast Banking Co. of Florida has a 1-year low of $19.04 and a 1-year high of $29.98. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $1.91 billion, a PE ratio of 15.97 and a beta of 1.12.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.34 by ($0.03). Seacoast Banking Co. of Florida had a net margin of 15.08% and a return on equity of 5.68%. The company had revenue of $125.58 million during the quarter, compared to analyst estimates of $127.95 million. As a group, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.42 EPS for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.18 per share. The ex-dividend date is Friday, June 14th. This represents a $0.72 annualized dividend and a dividend yield of 3.21%. Seacoast Banking Co. of Florida’s payout ratio is currently 51.43%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Truist Financial cut their price target on Seacoast Banking Co. of Florida from $27.00 to $25.00 and set a “hold” rating for the company in a report on Monday, April 29th. Hovde Group lowered their price objective on Seacoast Banking Co. of Florida from $31.00 to $29.00 and set an “outperform” rating for the company in a research report on Monday, April 29th. Finally, Keefe, Bruyette & Woods upgraded Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $26.00 to $27.00 in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.30.

Insider Buying and Selling

In other Seacoast Banking Co. of Florida news, EVP James C. Stallings III sold 3,855 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were sold at an average price of $24.44, for a total value of $94,216.20. Following the completion of the sale, the executive vice president now owns 3,961 shares of the company’s stock, valued at $96,806.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is currently owned by corporate insiders.

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.