Rhumbline Advisers increased its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,401 shares of the financial services provider’s stock after buying an additional 4,300 shares during the quarter. Rhumbline Advisers owned 0.24% of Seacoast Banking Co. of Florida worth $3,518,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Gratus Capital LLC acquired a new stake in Seacoast Banking Co. of Florida during the first quarter worth about $207,000. Cornerstone Wealth Management LLC acquired a new stake in Seacoast Banking Co. of Florida during the second quarter worth about $212,000. Amalgamated Bank acquired a new stake in Seacoast Banking Co. of Florida during the second quarter worth about $216,000. Aperio Group LLC acquired a new stake in Seacoast Banking Co. of Florida during the second quarter worth about $221,000. Finally, UBS Group AG grew its position in Seacoast Banking Co. of Florida by 30.1% during the first quarter. UBS Group AG now owns 9,176 shares of the financial services provider’s stock worth $243,000 after buying an additional 2,125 shares in the last quarter. 84.22% of the stock is currently owned by institutional investors and hedge funds.

A number of research firms recently weighed in on SBCF. ValuEngine raised Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Raymond James downgraded Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 29th. They noted that the move was a valuation call. Hovde Group lifted their target price on Seacoast Banking Co. of Florida from $29.00 to $36.00 and gave the stock an “outperform” rating in a research report on Friday, June 15th. Finally, Sandler O’Neill downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. Seacoast Banking Co. of Florida has a consensus rating of “Hold” and a consensus target price of $33.20.

Shares of SBCF opened at $31.54 on Friday. The stock has a market cap of $1.49 billion, a price-to-earnings ratio of 21.02 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.84 and a quick ratio of 0.83. Seacoast Banking Co. of Florida has a 12 month low of $20.58 and a 12 month high of $34.95.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.38 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.05). The business had revenue of $62.98 million for the quarter, compared to the consensus estimate of $64.78 million. Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.63 earnings per share for the current fiscal year.

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.

See Also: What is a Tariff?

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.