American Research & Management Co. Acquires 4,836 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

American Research & Management Co. lifted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.1% during the first quarter, Holdings Channel.com reports. The firm owned 83,801 shares of the financial services provider’s stock after acquiring an additional 4,836 shares during the quarter. American Research & Management Co.’s holdings in Seacoast Banking Co. of Florida were worth $3,037,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Great West Life Assurance Co. Can raised its position in Seacoast Banking Co. of Florida by 1,181.8% during the 3rd quarter. Great West Life Assurance Co. Can now owns 828,226 shares of the financial services provider’s stock worth $1,275,000 after purchasing an additional 763,612 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Seacoast Banking Co. of Florida by 8.7% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,169,288 shares of the financial services provider’s stock worth $152,236,000 after acquiring an additional 415,206 shares during the last quarter. GW&K Investment Management LLC raised its position in shares of Seacoast Banking Co. of Florida by 37.7% during the fourth quarter. GW&K Investment Management LLC now owns 1,390,959 shares of the financial services provider’s stock worth $40,964,000 after acquiring an additional 380,817 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 4.0% in the fourth quarter. BlackRock Inc. now owns 7,914,580 shares of the financial services provider’s stock worth $233,085,000 after acquiring an additional 306,665 shares during the period. Finally, Royce & Associates LP boosted its holdings in Seacoast Banking Co. of Florida by 180.4% in the fourth quarter. Royce & Associates LP now owns 437,450 shares of the financial services provider’s stock valued at $12,883,000 after acquiring an additional 281,450 shares during the last quarter. 79.40% of the stock is currently owned by institutional investors.

SBCF has been the topic of a number of recent analyst reports. Raymond James boosted their price target on shares of Seacoast Banking Co. of Florida from $33.00 to $39.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 31st. B. Riley increased their price target on Seacoast Banking Co. of Florida from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, February 19th. Finally, Zacks Investment Research downgraded shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Wednesday.

SBCF traded down $0.44 during mid-day trading on Thursday, reaching $35.50. 1,318 shares of the stock were exchanged, compared to its average volume of 263,288. Seacoast Banking Co. of Florida has a 1 year low of $16.10 and a 1 year high of $40.93. The company has a debt-to-equity ratio of 0.10, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market capitalization of $1.96 billion, a PE ratio of 25.09 and a beta of 1.34. The company has a 50 day moving average price of $37.10 and a two-hundred day moving average price of $28.99.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Wednesday, January 27th. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.05. Seacoast Banking Co. of Florida had a net margin of 21.62% and a return on equity of 8.29%. The company had revenue of $83.72 million for the quarter, compared to analyst estimates of $83.14 million. Sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.57 EPS for the current fiscal year.

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 retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and mortgage 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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