IFP Advisors Inc Increases Position in Seacoast Banking Co. of Florida (SBCF)

IFP Advisors Inc boosted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 5.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,637 shares of the financial services provider’s stock after acquiring an additional 2,922 shares during the period. IFP Advisors Inc owned 0.12% of Seacoast Banking Co. of Florida worth $1,789,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBCF. Gratus Capital LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the 1st quarter valued at approximately $207,000. Cornerstone Wealth Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at approximately $212,000. Amalgamated Bank purchased a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at approximately $216,000. Aperio Group LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the 2nd quarter valued at approximately $221,000. Finally, UBS Group AG grew its stake in shares of Seacoast Banking Co. of Florida by 30.1% in the 1st quarter. UBS Group AG now owns 9,176 shares of the financial services provider’s stock valued at $243,000 after buying an additional 2,125 shares during the period. 82.71% of the stock is owned by institutional investors.

Shares of SBCF stock opened at $30.20 on Friday. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.38. Seacoast Banking Co. of Florida has a one year low of $20.58 and a one year high of $34.95. The company has a market capitalization of $1.41 billion, a PE ratio of 23.59 and a beta of 0.62.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.38 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. The company had revenue of $62.98 million during the quarter, compared to analyst estimates of $64.78 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The business’s revenue was up 15.3% compared to the same quarter last year. equities analysts expect that Seacoast Banking Co. of Florida will post 1.63 earnings per share for the current year.

In other news, Director Roger Goldman sold 1,260 shares of the company’s stock in a transaction that occurred on Thursday, May 31st. The shares were sold at an average price of $31.25, for a total value of $39,375.00. Following the transaction, the director now directly owns 12,815 shares in the company, valued at approximately $400,468.75. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.00% of the company’s stock.

Several analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “strong sell” rating in a research note on Wednesday. B. Riley dropped their price target on shares of Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating for the company in a research note on Tuesday, July 31st. ValuEngine lowered shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Sandler O’Neill set a $31.00 price objective on shares of Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a report on Saturday, July 28th. Finally, BidaskClub lowered shares of Seacoast Banking Co. of Florida from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $32.17.

Seacoast Banking Co. of Florida Company 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.

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

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