Algert Global LLC Takes $212,000 Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Algert Global LLC bought a new position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the fourth quarter, Holdings Channel reports. The fund bought 7,707 shares of the financial services provider’s stock, valued at approximately $212,000.

Other hedge funds have also made changes to their positions in the company. Barclays PLC boosted its stake in Seacoast Banking Co. of Florida by 112.0% during the third quarter. Barclays PLC now owns 178,355 shares of the financial services provider’s stock worth $4,754,000 after buying an additional 94,242 shares during the period. ZWJ Investment Counsel Inc. acquired a new position in shares of Seacoast Banking Co. of Florida in the 4th quarter worth approximately $203,000. Janney Montgomery Scott LLC lifted its holdings in shares of Seacoast Banking Co. of Florida by 24.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 9,816 shares of the financial services provider’s stock worth $270,000 after acquiring an additional 1,930 shares during the last quarter. Tributary Capital Management LLC boosted its position in shares of Seacoast Banking Co. of Florida by 44.4% during the 4th quarter. Tributary Capital Management LLC now owns 654,854 shares of the financial services provider’s stock worth $18,028,000 after purchasing an additional 201,494 shares during the period. Finally, KBC Group NV increased its holdings in Seacoast Banking Co. of Florida by 33.7% in the 4th quarter. KBC Group NV now owns 4,447 shares of the financial services provider’s stock valued at $122,000 after purchasing an additional 1,121 shares during the last quarter. Hedge funds and other institutional investors own 81.77% of the company’s stock.

Seacoast Banking Co. of Florida Price Performance

Shares of NASDAQ SBCF opened at $25.87 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16. The company’s 50-day moving average price is $24.43 and its 200 day moving average price is $26.96. Seacoast Banking Co. of Florida has a 52 week low of $21.36 and a 52 week high of $31.68. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of 18.09 and a beta of 0.89.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, April 24th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.02). The firm had revenue of $140.70 million during the quarter, compared to analysts’ expectations of $138.41 million. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. As a group, research analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Friday, June 13th will be issued a dividend of $0.18 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.78%. Seacoast Banking Co. of Florida’s payout ratio is currently 48.32%.

Analyst Ratings Changes

A number of brokerages recently commented on SBCF. StockNews.com cut Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Tuesday, May 6th. Stephens reduced their price objective on Seacoast Banking Co. of Florida from $28.00 to $26.00 and set an “equal weight” rating on the stock in a research note on Monday, April 28th. Keefe, Bruyette & Woods lowered their price target on shares of Seacoast Banking Co. of Florida from $32.00 to $31.00 and set an “outperform” rating for the company in a report on Wednesday, April 30th. Finally, Raymond James reissued an “outperform” rating and issued a $31.00 target price (up previously from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $29.40.

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.