Seacoast Banking Co. of Florida (SBCF) Shares Sold by Chatham Capital Group Inc.

Chatham Capital Group Inc. reduced its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,326 shares of the financial services provider’s stock after selling 5,100 shares during the period. Chatham Capital Group Inc. owned 0.15% of Seacoast Banking Co. of Florida worth $1,809,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SBCF. Wells Fargo & Company MN grew its stake in Seacoast Banking Co. of Florida by 64.1% in the 3rd quarter. Wells Fargo & Company MN now owns 53,151 shares of the financial services provider’s stock worth $1,270,000 after acquiring an additional 20,752 shares in the last quarter. California Public Employees Retirement System grew its stake in Seacoast Banking Co. of Florida by 7.6% in the 3rd quarter. California Public Employees Retirement System now owns 47,361 shares of the financial services provider’s stock worth $1,131,000 after acquiring an additional 3,361 shares in the last quarter. Schwab Charles Investment Management Inc. grew its stake in Seacoast Banking Co. of Florida by 6.2% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 219,834 shares of the financial services provider’s stock worth $5,543,000 after acquiring an additional 12,858 shares in the last quarter. Jennison Associates LLC grew its stake in Seacoast Banking Co. of Florida by 25.0% in the 4th quarter. Jennison Associates LLC now owns 2,002,000 shares of the financial services provider’s stock worth $50,470,000 after acquiring an additional 400,045 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC grew its stake in Seacoast Banking Co. of Florida by 69.9% in the 4th quarter. Quantitative Systematic Strategies LLC now owns 26,371 shares of the financial services provider’s stock worth $665,000 after acquiring an additional 10,849 shares in the last quarter. Institutional investors and hedge funds own 76.73% of the company’s stock.

In related news, EVP Charles K. Jr. Cross sold 1,754 shares of the stock in a transaction that occurred on Tuesday, May 15th. The shares were sold at an average price of $29.50, for a total transaction of $51,743.00. Following the completion of the sale, the executive vice president now owns 16,681 shares of the company’s stock, valued at $492,089.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Charles M. Shaffer sold 1,571 shares of the stock in a transaction that occurred on Tuesday, May 1st. The shares were sold at an average price of $27.53, for a total transaction of $43,249.63. Following the sale, the executive vice president now directly owns 14,343 shares of the company’s stock, valued at approximately $394,862.79. The disclosure for this sale can be found here. Insiders sold a total of 18,932 shares of company stock valued at $527,245 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Shares of SBCF opened at $30.58 on Friday. Seacoast Banking Co. of Florida has a fifty-two week low of $29.60 and a fifty-two week high of $29.81. The company has a market capitalization of $1.39 billion, a PE ratio of 23.89 and a beta of 0.64. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.83 and a quick ratio of 0.82.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.01. Seacoast Banking Co. of Florida had a net margin of 19.83% and a return on equity of 10.05%. The firm had revenue of $62.10 million during the quarter, compared to analysts’ expectations of $61.60 million. During the same quarter in the prior year, the company earned $0.26 EPS. The company’s revenue was up 29.1% compared to the same quarter last year. equities analysts expect that Seacoast Banking Co. of Florida will post 1.75 EPS for the current year.

SBCF has been the topic of a number of research analyst reports. BidaskClub upgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research note on Friday, March 9th. ValuEngine upgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research note on Saturday, April 21st. B. Riley restated a “buy” rating and issued a $30.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Friday, January 26th. Guggenheim restated a “hold” rating and issued a $28.00 target price on shares of Seacoast Banking Co. of Florida in a research note on Wednesday, January 31st. Finally, Zacks Investment Research upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, April 3rd. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $29.00.

About Seacoast Banking Co. of Florida

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.

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

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