Victory Capital Management Inc. Boosts Position in Seacoast Banking Corporation of Florida (SBCF)

Victory Capital Management Inc. boosted its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 7.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 74,690 shares of the financial services provider’s stock after buying an additional 5,413 shares during the period. Victory Capital Management Inc. owned approximately 0.17% of Seacoast Banking Corporation of Florida worth $1,883,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA raised its holdings in Seacoast Banking Corporation of Florida by 58.4% in the third quarter. BNP Paribas Arbitrage SA now owns 6,776 shares of the financial services provider’s stock valued at $162,000 after buying an additional 2,498 shares during the period. Magnetar Financial LLC purchased a new position in Seacoast Banking Corporation of Florida in the third quarter valued at approximately $203,000. SG Americas Securities LLC purchased a new position in Seacoast Banking Corporation of Florida in the third quarter valued at approximately $211,000. Cubist Systematic Strategies LLC purchased a new position in Seacoast Banking Corporation of Florida in the second quarter valued at approximately $284,000. Finally, OxFORD Asset Management LLP purchased a new position in Seacoast Banking Corporation of Florida in the third quarter valued at approximately $331,000. Hedge funds and other institutional investors own 75.02% of the company’s stock.

Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at $27.25 on Friday. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.83 and a quick ratio of 0.82. Seacoast Banking Corporation of Florida has a 1 year low of $20.58 and a 1 year high of $27.68. The stock has a market cap of $1,288.36, a P/E ratio of 21.62 and a beta of 0.69.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 17.14% and a return on equity of 9.92%. The company had revenue of $74.87 million during the quarter, compared to the consensus estimate of $67.93 million. During the same quarter last year, the company earned $0.30 earnings per share. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 58.1% on a year-over-year basis. equities research analysts forecast that Seacoast Banking Corporation of Florida will post 1.77 EPS for the current fiscal year.

SBCF has been the topic of several research reports. FBR & Co restated a “buy” rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, October 27th. Zacks Investment Research lowered shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. BidaskClub lowered shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Hovde Group set a $27.00 price target on shares of Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a report on Wednesday, January 3rd. Finally, Sandler O’Neill set a $27.00 price target on shares of Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a report on Thursday, January 4th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $29.00.

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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.

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

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