Xcel Wealth Management LLC Invests $223,000 in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Xcel Wealth Management LLC bought a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 8,358 shares of the financial services provider’s stock, valued at approximately $223,000.

A number of other hedge funds have also modified their holdings of the stock. Wealth Effects LLC raised its holdings in shares of Seacoast Banking Co. of Florida by 10.4% in the 3rd quarter. Wealth Effects LLC now owns 25,550 shares of the financial services provider’s stock worth $681,000 after buying an additional 2,400 shares in the last quarter. Trust Point Inc. raised its holdings in shares of Seacoast Banking Co. of Florida by 2.8% in the 3rd quarter. Trust Point Inc. now owns 22,903 shares of the financial services provider’s stock worth $610,000 after buying an additional 617 shares in the last quarter. Creative Planning acquired a new stake in Seacoast Banking Co. of Florida during the 3rd quarter valued at $231,000. GAMMA Investing LLC increased its holdings in Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after purchasing an additional 412 shares in the last quarter. Finally, Algert Global LLC acquired a new stake in Seacoast Banking Co. of Florida during the 2nd quarter valued at $202,000. 81.77% of the stock is owned by institutional investors and hedge funds.

Seacoast Banking Co. of Florida Trading Up 0.1 %

SBCF traded up $0.04 during mid-day trading on Tuesday, reaching $26.80. The stock had a trading volume of 71,921 shares, compared to its average volume of 411,532. The stock has a market capitalization of $2.28 billion, a P/E ratio of 19.25 and a beta of 1.07. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.86 and a current ratio of 0.86. The firm’s fifty day simple moving average is $26.67 and its two-hundred day simple moving average is $25.06. Seacoast Banking Co. of Florida has a 52 week low of $19.04 and a 52 week high of $29.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.02. The firm had revenue of $201.99 million for the quarter, compared to analyst estimates of $126.00 million. Seacoast Banking Co. of Florida had a return on equity of 5.58% and a net margin of 14.84%. During the same period last year, the company earned $0.37 EPS. On average, equities analysts predict that Seacoast Banking Co. of Florida will post 1.43 EPS 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. Stockholders of record on Friday, December 13th will be given a $0.18 dividend. The ex-dividend date is Friday, December 13th. This represents a $0.72 annualized dividend and a dividend yield of 2.69%. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 51.80%.

Analyst Ratings Changes

A number of research firms recently weighed in on SBCF. Truist Financial raised their price target on Seacoast Banking Co. of Florida from $24.00 to $30.00 and gave the company a “hold” rating in a report on Monday, July 29th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $31.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, August 21st. Finally, Hovde Group cut Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and raised their price target for the company from $29.00 to $31.00 in a report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $29.88.

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.