Stifel Financial Corp Increases Stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Stifel Financial Corp lifted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 30.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 461,410 shares of the financial services provider’s stock after purchasing an additional 107,064 shares during the period. Stifel Financial Corp owned about 0.90% of Seacoast Banking Co. of Florida worth $11,709,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. BBVA USA Bancshares Inc. bought a new position in shares of Seacoast Banking Co. of Florida in the third quarter worth about $251,000. 1492 Capital Management LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 0.5% in the third quarter. 1492 Capital Management LLC now owns 90,085 shares of the financial services provider’s stock worth $2,280,000 after purchasing an additional 451 shares during the last quarter. Synovus Financial Corp bought a new position in shares of Seacoast Banking Co. of Florida in the third quarter worth about $402,000. Russell Investments Group Ltd. bought a new position in shares of Seacoast Banking Co. of Florida in the third quarter worth about $161,000. Finally, California Public Employees Retirement System grew its holdings in shares of Seacoast Banking Co. of Florida by 121.1% in the third quarter. California Public Employees Retirement System now owns 104,346 shares of the financial services provider’s stock worth $2,641,000 after purchasing an additional 57,147 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

Shares of Seacoast Banking Co. of Florida stock opened at $29.47 on Tuesday. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89. Seacoast Banking Co. of Florida has a 1 year low of $22.35 and a 1 year high of $30.02. The firm’s 50-day moving average is $28.37 and its two-hundred day moving average is $25.73. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 18.19 and a beta of 1.00.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.49 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.01. Seacoast Banking Co. of Florida had a net margin of 25.69% and a return on equity of 11.13%. The company had revenue of $74.89 million for the quarter, compared to analysts’ expectations of $74.73 million. During the same period in the prior year, the business earned $0.37 EPS. The firm’s quarterly revenue was up 17.3% on a year-over-year basis. On average, equities analysts expect that Seacoast Banking Co. of Florida will post 2 earnings per share for the current year.

A number of research analysts have recently commented on SBCF shares. Zacks Investment Research cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, October 30th. B. Riley restated a “hold” rating and issued a $30.00 price target on shares of Seacoast Banking Co. of Florida in a report on Wednesday, November 20th. ValuEngine upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Finally, BidaskClub upgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $29.63.

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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