Bank of New York Mellon Corp decreased its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 3.8% during the third quarter, Holdings Channel reports. The institutional investor owned 741,209 shares of the financial services provider’s stock after selling 29,481 shares during the period. Bank of New York Mellon Corp’s holdings in Seacoast Banking Corporation of Florida were worth $11,926,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. PNC Financial Services Group Inc. boosted its position in shares of Seacoast Banking Corporation 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 worth $178,000 after buying an additional 109 shares in the last quarter. Janney Montgomery Scott LLC boosted its position in Seacoast Banking Corporation 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 worth $204,000 after buying an additional 3,400 shares during the period. BlackRock Inc. boosted its position in Seacoast Banking Corporation of Florida by 721.1% in the second quarter. BlackRock Inc. now owns 13,285 shares of the financial services provider’s stock worth $216,000 after buying an additional 11,667 shares during the period. Citadel Advisors LLC purchased a new position in Seacoast Banking Corporation of Florida during the second quarter worth about $237,000. Finally, Alliancebernstein L.P. purchased a new position in Seacoast Banking Corporation of Florida during the second quarter worth about $239,000. Hedge funds and other institutional investors own 53.06% of the company’s stock.

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

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at 21.70 on Friday. Seacoast Banking Corporation of Florida has a 52-week low of $13.40 and a 52-week high of $23.00. The company has a 50-day moving average of $21.29 and a 200 day moving average of $17.72. The company has a market cap of $814.81 million, a PE ratio of 32.44 and a beta of 0.86.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Wednesday, October 26th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.27 by $0.01. Seacoast Banking Corporation of Florida had a net margin of 13.51% and a return on equity of 7.99%. The firm had revenue of $47.21 million for the quarter, compared to analyst estimates of $47.20 million. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue was up 27.3% compared to the same quarter last year. Equities research analysts predict that Seacoast Banking Corporation of Florida will post $1.00 EPS for the current year.

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A number of research analysts have recently issued reports on SBCF shares. FBR & Co set a $20.00 target price on shares of Seacoast Banking Corporation of Florida and gave the company a “buy” rating in a research note on Sunday, October 30th. Zacks Investment Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a research note on Wednesday, November 9th. FIG Partners cut shares of Seacoast Banking Corporation of Florida from an “outperform” rating to a “market perform” rating in a research note on Monday, November 7th. Raymond James Financial, Inc. started coverage on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, November 30th. They issued an “outperform” rating for the company. Finally, Citigroup Inc. started coverage on shares of Seacoast Banking Corporation of Florida in a research note on Wednesday, November 30th. They issued an “outperform” rating and a $22.00 target price for the company. Three research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $19.38.

In other news, Director Julie H. Daum purchased 3,000 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Tuesday, November 29th. The shares were acquired at an average price of $19.93 per share, for a total transaction of $59,790.00. Following the transaction, the director now owns 21,456 shares of the company’s stock, valued at approximately $427,618.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 2.80% of the company’s stock.

About Seacoast Banking Corporation of Florida

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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