Wells Fargo & Company MN raised its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 35.9% during the fourth quarter, Holdings Channel reports. The fund owned 72,229 shares of the financial services provider’s stock after purchasing an additional 19,078 shares during the period. Wells Fargo & Company MN’s holdings in Seacoast Banking Co. of Florida were worth $1,821,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. Jennison Associates LLC boosted its stake in Seacoast Banking Co. of Florida by 25.0% in the fourth quarter. Jennison Associates LLC now owns 2,002,000 shares of the financial services provider’s stock valued at $50,470,000 after acquiring an additional 400,045 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Seacoast Banking Co. of Florida by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,355,098 shares of the financial services provider’s stock valued at $32,374,000 after acquiring an additional 33,161 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its stake in Seacoast Banking Co. of Florida by 6.2% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 219,834 shares of the financial services provider’s stock valued at $5,543,000 after acquiring an additional 12,858 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in Seacoast Banking Co. of Florida by 395.0% in the third quarter. JPMorgan Chase & Co. now owns 198,620 shares of the financial services provider’s stock valued at $4,770,000 after acquiring an additional 158,496 shares during the last quarter. Finally, Opus Capital Group LLC bought a new position in Seacoast Banking Co. of Florida in the fourth quarter valued at approximately $2,738,000. 75.98% of the stock is currently owned by hedge funds and other institutional investors.

How to Become a New Pot Stock Millionaire

SBCF has been the topic of a number of recent analyst reports. BidaskClub raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Sandler O’Neill raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a research report on Thursday, January 11th. B. Riley reissued a “buy” rating and set a $30.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Friday, January 26th. Zacks Investment Research raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Saturday, December 30th. Finally, Guggenheim reissued a “hold” rating and set a $28.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $29.00.

In related news, Director Roger Goldman sold 6,407 shares of the business’s stock in a transaction on Wednesday, March 7th. The shares were sold at an average price of $27.41, for a total value of $175,615.87. Following the sale, the director now directly owns 23,572 shares of the company’s stock, valued at approximately $646,108.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 3.00% of the company’s stock.

Shares of NASDAQ SBCF opened at $27.02 on Tuesday. The firm has a market cap of $1,259.60, a PE ratio of 21.11 and a beta of 0.65. Seacoast Banking Co. of Florida has a twelve month low of $20.58 and a twelve month high of $28.44. The company has a current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.41.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The company had revenue of $74.87 million for the quarter, compared to analysts’ expectations of $67.93 million. Seacoast Banking Co. of Florida had a net margin of 17.14% and a return on equity of 9.36%. The business’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same period last year, the firm posted $0.30 earnings per share. equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.77 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Wells Fargo & Company MN Acquires 19,078 Shares of Seacoast Banking Co. of Florida (SBCF)” was first published by Daily Political and is owned by of Daily Political. If you are reading this story on another site, it was stolen and reposted in violation of U.S. & international copyright and trademark law. The legal version of this story can be viewed at https://www.dailypolitical.com/2018/04/17/wells-fargo-company-mn-acquires-19078-shares-of-seacoast-banking-co-of-florida-sbcf.html.

Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

Want to see what other hedge funds are holding SBCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seacoast Banking Co. of Florida (NASDAQ:SBCF).

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

Receive News & Ratings for Seacoast Banking Co. of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Co. of Florida and related companies with MarketBeat.com's FREE daily email newsletter.