Emerald Mutual Fund Advisers Trust Purchases Shares of 4,680 Seacoast Banking Corporation of Florida $SBCF

Emerald Mutual Fund Advisers Trust acquired a new stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) in the second quarter, HoldingsChannel.com reports. The fund acquired 4,680 shares of the financial services provider’s stock, valued at approximately $129,000.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc boosted its stake in Seacoast Banking Corporation of Florida by 343.9% in the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 994 shares during the period. GAMMA Investing LLC lifted its stake in shares of Seacoast Banking Corporation of Florida by 38.0% in the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 460 shares during the last quarter. CWM LLC lifted its holdings in shares of Seacoast Banking Corporation of Florida by 61.6% in the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock worth $68,000 after acquiring an additional 1,004 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new stake in Seacoast Banking Corporation of Florida in the second quarter worth about $242,000. Finally, MQS Management LLC bought a new stake in shares of Seacoast Banking Corporation of Florida during the 1st quarter worth approximately $244,000. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Corporation of Florida Trading Down 1.2%

Shares of SBCF stock opened at $30.48 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.84. The stock’s fifty day moving average is $30.78 and its two-hundred day moving average is $27.97. Seacoast Banking Corporation of Florida has a fifty-two week low of $21.36 and a fifty-two week high of $32.33. The firm has a market capitalization of $2.68 billion, a P/E ratio of 18.04 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. The business had revenue of $83.85 million for the quarter. Seacoast Banking Corporation of Florida had a return on equity of 7.16% and a net margin of 16.93%. Research analysts expect that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Seacoast Banking Corporation of Florida Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Investors of record on Monday, December 15th will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from Seacoast Banking Corporation of Florida’s previous quarterly dividend of $0.18. Seacoast Banking Corporation of Florida’s payout ratio is currently 42.60%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SBCF. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, October 8th. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the stock an “outperform” rating in a research report on Tuesday, October 7th. Keefe, Bruyette & Woods boosted their target price on Seacoast Banking Corporation of Florida from $35.00 to $36.00 and gave the stock an “outperform” rating in a research note on Wednesday. Wall Street Zen raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Finally, Zacks Research upgraded Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a research report on Thursday, August 21st. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Seacoast Banking Corporation of Florida currently has a consensus rating of “Moderate Buy” and a consensus target price of $31.00.

About Seacoast Banking Corporation of Florida

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.