Alliancebernstein L.P. lowered its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 0.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,000 shares of the financial services provider’s stock after selling 100 shares during the period. Alliancebernstein L.P. owned 0.08% of Seacoast Banking Corporation of Florida worth $719,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of SBCF. American International Group Inc. raised its position in shares of Seacoast Banking Corporation of Florida by 7.2% in the first quarter. American International Group Inc. now owns 18,252 shares of the financial services provider’s stock worth $438,000 after buying an additional 1,220 shares during the period. SG Americas Securities LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter worth approximately $209,000. Stieven Capital Advisors L.P. raised its position in shares of Seacoast Banking Corporation of Florida by 150.9% in the first quarter. Stieven Capital Advisors L.P. now owns 414,000 shares of the financial services provider’s stock worth $9,928,000 after buying an additional 249,000 shares during the period. Tokio Marine Asset Management Co. Ltd. acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter worth approximately $2,005,000. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter worth approximately $200,000. 71.53% of the stock is currently owned by institutional investors.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at 24.10 on Friday. The company has a market cap of $1.03 billion, a PE ratio of 26.81 and a beta of 0.77. Seacoast Banking Corporation of Florida has a 52 week low of $15.85 and a 52 week high of $25.88. The company’s 50-day moving average price is $24.03 and its 200 day moving average price is $23.52.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.29 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.29. The company had revenue of $54.60 million during the quarter, compared to the consensus estimate of $53.90 million. Seacoast Banking Corporation of Florida had a return on equity of 9.80% and a net margin of 17.09%. The firm’s quarterly revenue was up 25.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.24 earnings per share. On average, analysts anticipate that Seacoast Banking Corporation of Florida will post $1.24 EPS for the current year.

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A number of research analysts have recently commented on the company. Zacks Investment Research lowered Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a report on Thursday. BidaskClub raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, FIG Partners raised Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a report on Friday, May 19th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $22.60.

In other news, Director Roger Goldman sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total transaction of $67,650.00. Following the completion of the sale, the director now owns 20,072 shares in the company, valued at $452,623.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 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.

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

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