Everence Capital Management Inc. Buys Shares of 8,510 Seacoast Banking Co. of Florida (SBCF)

Everence Capital Management Inc. bought a new position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 8,510 shares of the financial services provider’s stock, valued at approximately $224,000.

A number of other hedge funds have also bought and sold shares of the business. Texas Permanent School Fund lifted its position in Seacoast Banking Co. of Florida by 3.9% during the 1st quarter. Texas Permanent School Fund now owns 34,845 shares of the financial services provider’s stock valued at $918,000 after purchasing an additional 1,295 shares during the period. Comerica Bank lifted its position in Seacoast Banking Co. of Florida by 1.6% during the 1st quarter. Comerica Bank now owns 50,886 shares of the financial services provider’s stock valued at $1,391,000 after purchasing an additional 819 shares during the period. Rhumbline Advisers lifted its position in Seacoast Banking Co. of Florida by 0.9% during the 1st quarter. Rhumbline Advisers now owns 142,675 shares of the financial services provider’s stock valued at $3,759,000 after purchasing an additional 1,226 shares during the period. SG Americas Securities LLC lifted its position in Seacoast Banking Co. of Florida by 53.0% during the 1st quarter. SG Americas Securities LLC now owns 31,672 shares of the financial services provider’s stock valued at $835,000 after purchasing an additional 10,965 shares during the period. Finally, Bank of Montreal Can lifted its position in Seacoast Banking Co. of Florida by 16.5% during the 1st quarter. Bank of Montreal Can now owns 3,636 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 516 shares during the period. 82.24% of the stock is owned by institutional investors.

A number of research analysts have issued reports on the stock. Zacks Investment Research upgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Wednesday, May 1st. FIG Partners downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Friday, January 25th. BidaskClub upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, Hovde Group upgraded shares of Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a research report on Tuesday, May 14th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average target price of $30.63.

Seacoast Banking Co. of Florida stock opened at $25.42 on Tuesday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87. Seacoast Banking Co. of Florida has a 1 year low of $21.74 and a 1 year high of $34.95. The stock has a market cap of $1.32 billion, a price-to-earnings ratio of 15.69 and a beta of 0.74.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.47 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.47. The business had revenue of $73.61 million for the quarter, compared to the consensus estimate of $74.28 million. Seacoast Banking Co. of Florida had a net margin of 23.29% and a return on equity of 10.47%. During the same period last year, the company posted $0.40 EPS. On average, analysts forecast that Seacoast Banking Co. of Florida will post 1.99 earnings per share for the current year.

In related news, EVP David D. Houdeshell sold 5,000 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $29.15, for a total value of $145,750.00. Following the sale, the executive vice president now directly owns 18,197 shares in the company, valued at approximately $530,442.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dennis S. Hudson III sold 8,000 shares of the stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $29.31, for a total transaction of $234,480.00. Following the completion of the sale, the chief executive officer now owns 35,839 shares in the company, valued at $1,050,441.09. The disclosure for this sale can be found here. Company insiders own 2.70% of the company’s stock.

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Seacoast Banking Co. of Florida Profile

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 treasury management services, as well as home mortgage products; 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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