Bank of America Corp DE Boosts Holdings in Seacoast Banking Co. of Florida (SBCF)

Bank of America Corp DE boosted its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 9.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 301,123 shares of the financial services provider’s stock after buying an additional 25,276 shares during the quarter. Bank of America Corp DE owned approximately 0.64% of Seacoast Banking Co. of Florida worth $7,836,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SBCF. Bank of Montreal Can raised its position in shares of Seacoast Banking Co. of Florida by 16.0% during the 4th quarter. Bank of Montreal Can now owns 3,120 shares of the financial services provider’s stock valued at $81,000 after acquiring an additional 431 shares during the last quarter. Victory Capital Management Inc. raised its position in shares of Seacoast Banking Co. of Florida by 4.1% during the 4th quarter. Victory Capital Management Inc. now owns 17,306 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 674 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Seacoast Banking Co. of Florida by 35.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock valued at $71,000 after acquiring an additional 716 shares during the last quarter. New York State Teachers Retirement System raised its position in shares of Seacoast Banking Co. of Florida by 5.5% during the 4th quarter. New York State Teachers Retirement System now owns 21,284 shares of the financial services provider’s stock valued at $554,000 after acquiring an additional 1,104 shares during the last quarter. Finally, Piedmont Investment Advisors Inc. raised its position in shares of Seacoast Banking Co. of Florida by 11.7% during the 4th quarter. Piedmont Investment Advisors Inc. now owns 12,108 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 1,271 shares during the last quarter. 82.60% of the stock is currently owned by hedge funds and other institutional investors.

SBCF opened at $27.89 on Wednesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.91. Seacoast Banking Co. of Florida has a 12 month low of $21.74 and a 12 month high of $34.95. The firm has a market capitalization of $1.44 billion, a P/E ratio of 17.22 and a beta of 0.72.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.03. Seacoast Banking Co. of Florida had a net margin of 23.08% and a return on equity of 10.49%. The business had revenue of $72.70 million during the quarter, compared to analysts’ expectations of $72.01 million. During the same quarter in the prior year, the company earned $0.37 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. As a group, sell-side analysts forecast that Seacoast Banking Co. of Florida will post 1.98 earnings per share for the current fiscal year.

In related news, CEO Dennis S. Hudson III sold 8,000 shares of the company’s stock in a transaction on Friday, February 22nd. The shares were sold at an average price of $29.31, for a total value of $234,480.00. Following the completion of the sale, the chief executive officer now owns 35,839 shares in the company, valued at approximately $1,050,441.09. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP David D. Houdeshell sold 5,000 shares of the company’s stock in a transaction on Wednesday, February 20th. The shares were sold at an average price of $29.15, for a total transaction of $145,750.00. Following the completion of the sale, the executive vice president now owns 18,197 shares of the company’s stock, valued at approximately $530,442.55. The disclosure for this sale can be found here. In the last 90 days, insiders sold 22,226 shares of company stock valued at $637,843. 3.00% of the stock is owned by corporate insiders.

Several analysts have commented on SBCF shares. FIG Partners cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Friday, January 25th. BidaskClub cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Zacks Investment Research cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, January 11th. Finally, Hovde Group cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 2nd. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and an average price target of $31.63.

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Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and treasury management services, as well as home mortgage products; and brokerage and annuity services.

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

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