Hillcrest Asset Management LLC cut its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 407,753 shares of the financial services provider’s stock after selling 390 shares during the quarter. Seacoast Banking Corporation of Florida comprises approximately 1.8% of Hillcrest Asset Management LLC’s holdings, making the stock its 29th biggest position. Hillcrest Asset Management LLC owned approximately 0.95% of Seacoast Banking Corporation of Florida worth $9,827,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Beaton Management Co. Inc. bought a new position in shares of Seacoast Banking Corporation of Florida in the second quarter valued at $463,000. Susquehanna International Group LLP boosted its position in Seacoast Banking Corporation of Florida by 123.0% during the second quarter. Susquehanna International Group LLP now owns 63,854 shares of the financial services provider’s stock worth $1,539,000 after purchasing an additional 35,216 shares during the period. California State Teachers Retirement System boosted its position in Seacoast Banking Corporation of Florida by 12.9% during the second quarter. California State Teachers Retirement System now owns 70,808 shares of the financial services provider’s stock worth $1,706,000 after purchasing an additional 8,100 shares during the period. Highlander Capital Management LLC boosted its position in Seacoast Banking Corporation of Florida by 10.2% during the second quarter. Highlander Capital Management LLC now owns 32,375 shares of the financial services provider’s stock worth $799,000 after purchasing an additional 3,000 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its position in Seacoast Banking Corporation of Florida by 30.4% during the second quarter. The Manufacturers Life Insurance Company now owns 30,715 shares of the financial services provider’s stock worth $740,000 after purchasing an additional 7,160 shares during the period. 77.46% of the stock is owned by institutional investors and hedge funds.

In other news, Director Roger Goldman sold 2,200 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $24.11, for a total transaction of $53,042.00. Following the completion of the transaction, the director now owns 20,072 shares in the company, valued at approximately $483,935.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.80% of the stock is currently owned by corporate insiders.

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A number of equities analysts have commented on the stock. BidaskClub raised shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, FBR & Co reaffirmed a “buy” rating and set a $27.00 price objective on shares of Seacoast Banking Corporation of Florida in a research report on Tuesday, September 5th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Seacoast Banking Corporation of Florida currently has an average rating of “Buy” and an average price target of $24.67.

Seacoast Banking Corporation of Florida (SBCF) traded down 1.19% during trading on Friday, reaching $23.98. 127,945 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $23.04 and its 200-day moving average price is $23.55. Seacoast Banking Corporation of Florida has a 12 month low of $16.29 and a 12 month high of $25.88. The firm has a market cap of $1.03 billion, a price-to-earnings ratio of 26.67 and a beta of 0.76.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $54.60 million during the quarter, compared to analyst estimates of $53.90 million. Seacoast Banking Corporation of Florida had a return on equity of 9.20% and a net margin of 17.09%. The business’s revenue was up 25.2% compared to the same quarter last year. During the same period last year, the firm posted $0.24 EPS. On average, equities research analysts anticipate that Seacoast Banking Corporation of Florida will post $1.23 EPS for the current year.

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.

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

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