Wells Fargo & Company MN raised its holdings in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 64.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,151 shares of the financial services provider’s stock after acquiring an additional 20,752 shares during the period. Wells Fargo & Company MN’s holdings in Seacoast Banking Corporation of Florida were worth $1,270,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its holdings in Seacoast Banking Corporation of Florida by 3,190.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,278 shares of the financial services provider’s stock valued at $103,000 after acquiring an additional 4,148 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida in the 3rd quarter valued at approximately $211,000. Legal & General Group Plc grew its stake in shares of Seacoast Banking Corporation of Florida by 38.1% in the 2nd quarter. Legal & General Group Plc now owns 10,015 shares of the financial services provider’s stock valued at $242,000 after buying an additional 2,761 shares during the period. Virtu KCG Holdings LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida in the 2nd quarter valued at approximately $277,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida in the 2nd quarter valued at approximately $284,000. Institutional investors own 79.59% of the company’s stock.

Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at $26.81 on Tuesday. Seacoast Banking Corporation of Florida has a one year low of $20.58 and a one year high of $27.50. The company has a quick ratio of 0.82, a current ratio of 0.83 and a debt-to-equity ratio of 0.77. The firm has a market cap of $1,173.52, a P/E ratio of 27.36 and a beta of 0.77.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. The business had revenue of $57.10 million during the quarter, compared to analysts’ expectations of $57.55 million. Seacoast Banking Corporation of Florida had a net margin of 18.48% and a return on equity of 9.37%. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.28 EPS. sell-side analysts forecast that Seacoast Banking Corporation of Florida will post 1.24 earnings per share for the current year.

SBCF has been the subject of several analyst reports. FBR & Co reissued a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research note on Friday, October 27th. BidaskClub cut shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Tuesday, December 12th. Zacks Investment Research cut shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Hovde Group set a $27.00 price target on shares of Seacoast Banking Corporation of Florida and gave the company a “hold” rating in a research note on Wednesday, January 3rd. Finally, Sandler O’Neill raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research note on Thursday, January 11th. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $27.80.

In related news, CEO Dennis S. Hudson III sold 2,300 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $24.22, for a total transaction of $55,706.00. Following the completion of the transaction, the chief executive officer now owns 19,247 shares of the company’s stock, valued at approximately $466,162.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis S. Hudson III sold 8,000 shares of the stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $24.39, for a total transaction of $195,120.00. Following the transaction, the chief executive officer now directly owns 19,247 shares of the company’s stock, valued at approximately $469,434.33. The disclosure for this sale can be found here. Company insiders own 2.80% of the company’s stock.

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Seacoast Banking Corporation of Florida Company Profile

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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