Victory Capital Management Inc. increased its stake in Seacoast Banking Corp. of Florida (NASDAQ:SBCF) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 69,572 shares of the financial services provider’s stock after buying an additional 240 shares during the period. Victory Capital Management Inc. owned approximately 0.19% of Seacoast Banking Corp. of Florida worth $1,130,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the company. PNC Financial Services Group Inc. boosted its position in Seacoast Banking Corp. of Florida by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 10,978 shares of the financial services provider’s stock valued at $178,000 after buying an additional 109 shares during the last quarter. Commonwealth Equity Services Inc boosted its position in Seacoast Banking Corp. of Florida by 11.5% in the second quarter. Commonwealth Equity Services Inc now owns 11,646 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,200 shares during the last quarter. Swiss National Bank boosted its position in Seacoast Banking Corp. of Florida by 3.6% in the second quarter. Swiss National Bank now owns 45,500 shares of the financial services provider’s stock valued at $739,000 after buying an additional 1,600 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Seacoast Banking Corp. of Florida by 33.3% in the second quarter. Janney Montgomery Scott LLC now owns 13,600 shares of the financial services provider’s stock valued at $204,000 after buying an additional 3,400 shares during the last quarter. Finally, First Trust Advisors LP boosted its position in Seacoast Banking Corp. of Florida by 8.3% in the second quarter. First Trust Advisors LP now owns 50,562 shares of the financial services provider’s stock valued at $821,000 after buying an additional 3,883 shares during the last quarter. 51.37% of the stock is owned by hedge funds and other institutional investors.

Seacoast Banking Corp. of Florida (NASDAQ:SBCF) traded down 0.06% during mid-day trading on Wednesday, reaching $16.22. The company had a trading volume of 26,619 shares. The stock’s 50-day moving average is $16.44 and its 200 day moving average is $16.23. The firm has a market capitalization of $607.76 million, a P/E ratio of 29.02 and a beta of 0.81. Seacoast Banking Corp. of Florida has a 12 month low of $13.40 and a 12 month high of $17.80.

Seacoast Banking Corp. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Wednesday, July 27th. The financial services provider reported $0.23 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.23. Seacoast Banking Corp. of Florida had a return on equity of 7.61% and a net margin of 11.53%. During the same quarter last year, the company posted $0.18 earnings per share. On average, analysts predict that Seacoast Banking Corp. of Florida will post $0.98 earnings per share for the current fiscal year.

A number of brokerages have recently weighed in on SBCF. Keefe, Bruyette & Woods upgraded Seacoast Banking Corp. of Florida from a “market perform” rating to an “outperform” rating and raised their price target for the company from $18.00 to $20.00 in a research report on Thursday, September 1st. Zacks Investment Research upgraded Seacoast Banking Corp. of Florida from a “hold” rating to a “buy” rating and set a $18.00 price target for the company in a research report on Friday, August 5th. Hovde Group cut Seacoast Banking Corp. of Florida from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 6th. Finally, FBR & Co restated a “buy” rating and issued a $20.00 price target on shares of Seacoast Banking Corp. of Florida in a research report on Friday, July 29th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Seacoast Banking Corp. of Florida currently has a consensus rating of “Buy” and an average price target of $18.65.

Seacoast Banking Corp. 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 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.

5 Day Chart for NASDAQ:SBCF

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