Seacoast Banking Corporation of Florida (SBCF) Stake Maintained by Harbor Advisors LLC

Harbor Advisors LLC continued to hold its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the first quarter, Holdings Channel reports. The firm owned 13,272 shares of the financial services provider’s stock at the end of the first quarter. Harbor Advisors LLC’s holdings in Seacoast Banking Corporation of Florida were worth $318,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SBCF. American International Group Inc. boosted its stake in Seacoast Banking Corporation of Florida by 7.2% in the first quarter. American International Group Inc. now owns 18,252 shares of the financial services provider’s stock worth $438,000 after buying an additional 1,220 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Seacoast Banking Corporation of Florida by 5.1% in the first quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock worth $677,000 after buying an additional 1,374 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Seacoast Banking Corporation of Florida by 4.8% in the first quarter. Nationwide Fund Advisors now owns 49,030 shares of the financial services provider’s stock worth $1,176,000 after buying an additional 2,237 shares in the last quarter. Teachers Advisors LLC boosted its stake in Seacoast Banking Corporation of Florida by 4.4% in the first quarter. Teachers Advisors LLC now owns 83,935 shares of the financial services provider’s stock worth $2,013,000 after buying an additional 3,501 shares in the last quarter. Finally, Globeflex Capital L P acquired a new stake in Seacoast Banking Corporation of Florida during the first quarter worth $116,000. 71.55% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded down 1.29% during midday trading on Friday, hitting $24.55. The stock had a trading volume of 374,562 shares. Seacoast Banking Corporation of Florida has a 1-year low of $15.21 and a 1-year high of $25.88. The stock has a market cap of $953.50 million, a price-to-earnings ratio of 28.45 and a beta of 0.75. The company has a 50-day moving average of $23.62 and a 200-day moving average of $22.99.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.26 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by $0.01. The company had revenue of $48.10 million during the quarter, compared to analyst estimates of $47.55 million. Seacoast Banking Corporation of Florida had a net margin of 16.95% and a return on equity of 9.11%. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.19 earnings per share. Equities research analysts forecast that Seacoast Banking Corporation of Florida will post $1.24 EPS for the current year.

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A number of equities research analysts recently weighed in on SBCF shares. Zacks Investment Research cut Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a report on Saturday, February 18th. Guggenheim started coverage on Seacoast Banking Corporation of Florida in a report on Wednesday, March 15th. They set a “neutral” rating and a $25.00 price target for the company. Finally, FIG Partners raised Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a report on Friday, May 19th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Seacoast Banking Corporation of Florida has a consensus rating of “Buy” and an average price target of $23.00.

In related news, Director Roger Goldman sold 3,000 shares of the stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total value of $67,650.00. Following the completion of the sale, the director now directly owns 20,072 shares in the company, valued at $452,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.80% of the company’s stock.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

Want to see what other hedge funds are holding SBCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seacoast Banking Corporation of Florida (NASDAQ:SBCF).

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