William Blair Investment Management LLC Has $35.82 Million Stake in Seacoast Banking Corporation of Florida $SBCF

William Blair Investment Management LLC decreased its position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,296,936 shares of the financial services provider’s stock after selling 104,313 shares during the period. William Blair Investment Management LLC owned approximately 1.51% of Seacoast Banking Corporation of Florida worth $35,821,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of SBCF. Westwood Holdings Group Inc. raised its holdings in shares of Seacoast Banking Corporation of Florida by 27.7% during the first quarter. Westwood Holdings Group Inc. now owns 2,869,563 shares of the financial services provider’s stock valued at $73,834,000 after purchasing an additional 622,709 shares during the period. Nuveen LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $12,454,000. FJ Capital Management LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $10,084,000. Jane Street Group LLC acquired a new position in shares of Seacoast Banking Corporation of Florida during the first quarter valued at about $4,817,000. Finally, Algert Global LLC raised its holdings in shares of Seacoast Banking Corporation of Florida by 1,164.4% during the first quarter. Algert Global LLC now owns 97,447 shares of the financial services provider’s stock valued at $2,507,000 after purchasing an additional 89,740 shares during the period. Institutional investors and hedge funds own 81.77% of the company’s stock.

Seacoast Banking Corporation of Florida Trading Up 1.5%

Shares of SBCF stock opened at $29.24 on Friday. Seacoast Banking Corporation of Florida has a 52-week low of $21.36 and a 52-week high of $32.33. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.85 and a current ratio of 0.85. The company has a 50-day simple moving average of $30.47 and a two-hundred day simple moving average of $27.47. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 17.94 and a beta of 0.94.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Monday, February 14th. The financial services provider reported $0.55 earnings per share (EPS) for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The business had revenue of $83.85 million during the quarter. Research analysts anticipate that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SBCF. Raymond James Financial set a $33.00 price objective on shares of Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a report on Tuesday, October 7th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Keefe, Bruyette & Woods upped their target price on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Finally, Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $29.80.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.