Seacoast Banking Corporation of Florida (NASDAQ:SBCF) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 458,936 shares, a drop of 36.9% from the January 12th total of 727,213 shares. Based on an average trading volume of 206,229 shares, the days-to-cover ratio is currently 2.2 days. Currently, 1.1% of the shares of the stock are short sold.

Several hedge funds and other institutional investors have recently modified their holdings of SBCF. Schwab Charles Investment Management Inc. grew its holdings in shares of Seacoast Banking Corporation of Florida by 16.4% during the second quarter. Schwab Charles Investment Management Inc. now owns 164,701 shares of the financial services provider’s stock worth $3,970,000 after buying an additional 23,193 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Seacoast Banking Corporation of Florida by 371.9% during the second quarter. JPMorgan Chase & Co. now owns 40,124 shares of the financial services provider’s stock worth $967,000 after buying an additional 31,622 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Seacoast Banking Corporation of Florida by 14.9% during the second quarter. Wells Fargo & Company MN now owns 32,399 shares of the financial services provider’s stock worth $781,000 after buying an additional 4,197 shares in the last quarter. Alliancebernstein L.P. grew its holdings in shares of Seacoast Banking Corporation of Florida by 172.2% during the second quarter. Alliancebernstein L.P. now owns 81,660 shares of the financial services provider’s stock worth $1,968,000 after buying an additional 51,660 shares in the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of Seacoast Banking Corporation of Florida by 1.3% during the second quarter. Teachers Advisors LLC now owns 85,014 shares of the financial services provider’s stock worth $2,049,000 after buying an additional 1,079 shares in the last quarter. Institutional investors and hedge funds own 80.51% of the company’s stock.

Several research firms have weighed in on SBCF. Sandler O’Neill upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a report on Thursday, January 11th. Hovde Group upgraded shares of Seacoast Banking Corporation of Florida from a “market perform” rating to an “outperform” rating and dropped their target price for the company from $30.00 to $29.00 in a report on Wednesday, February 7th. B. Riley restated a “buy” rating and set a $30.00 target price on shares of Seacoast Banking Corporation of Florida in a report on Friday, January 26th. FBR & Co restated a “buy” rating on shares of Seacoast Banking Corporation of Florida in a report on Friday, October 27th. Finally, BidaskClub downgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Seacoast Banking Corporation of Florida has a consensus rating of “Buy” and an average target price of $29.00.

Seacoast Banking Corporation of Florida (SBCF) opened at $24.61 on Monday. The company has a current ratio of 0.83, a quick ratio of 0.82 and a debt-to-equity ratio of 0.77. Seacoast Banking Corporation of Florida has a twelve month low of $20.58 and a twelve month high of $27.50. The firm has a market cap of $1,154.65, a PE ratio of 25.11 and a beta of 0.69.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.01. The business had revenue of $74.87 million during the quarter, compared to the consensus estimate of $67.93 million. Seacoast Banking Corporation of Florida had a net margin of 17.14% and a return on equity of 9.92%. The company’s quarterly revenue was up 58.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.30 earnings per share. equities research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.77 earnings per share for the current fiscal year.

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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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