SG Americas Securities LLC Acquires Shares of 16,997 Seacoast Banking Co. of Florida (NASDAQ:SBCF)

SG Americas Securities LLC purchased a new stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,997 shares of the financial services provider’s stock, valued at approximately $537,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SBCF. Wells Fargo & Company MN increased its position in Seacoast Banking Co. of Florida by 4.1% during the 1st quarter. Wells Fargo & Company MN now owns 75,184 shares of the financial services provider’s stock worth $1,990,000 after buying an additional 2,955 shares during the period. Rhumbline Advisers increased its position in Seacoast Banking Co. of Florida by 162.6% during the 1st quarter. Rhumbline Advisers now owns 107,101 shares of the financial services provider’s stock worth $2,835,000 after buying an additional 66,314 shares during the period. Comerica Bank bought a new position in Seacoast Banking Co. of Florida during the 1st quarter worth $1,347,000. Prudential Financial Inc. bought a new position in Seacoast Banking Co. of Florida during the 1st quarter worth $2,059,000. Finally, Swiss National Bank increased its position in Seacoast Banking Co. of Florida by 3.7% during the 1st quarter. Swiss National Bank now owns 64,500 shares of the financial services provider’s stock worth $1,707,000 after buying an additional 2,300 shares during the period. Institutional investors and hedge funds own 84.22% of the company’s stock.

SBCF has been the topic of several recent research reports. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Friday, July 13th. BidaskClub cut Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, September 13th. ValuEngine upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research report on Thursday, August 23rd. Sandler O’Neill set a $31.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a research report on Saturday, July 28th. Finally, B. Riley lowered their price objective on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. Seacoast Banking Co. of Florida has an average rating of “Hold” and an average price target of $33.20.

SBCF opened at $29.60 on Tuesday. The firm has a market cap of $1.38 billion, a PE ratio of 23.13 and a beta of 0.54. Seacoast Banking Co. of Florida has a 52-week low of $22.42 and a 52-week high of $34.95. 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 (NASDAQ:SBCF) last released its earnings results on Thursday, July 26th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.05). The company had revenue of $62.98 million for the quarter, compared to analyst estimates of $64.78 million. Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. The business’s revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. Equities analysts forecast that Seacoast Banking Co. of Florida will post 1.63 earnings per share for the current year.

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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