Pembroke Management LTD Sells 4,176 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Pembroke Management LTD lowered its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 289,224 shares of the financial services provider’s stock after selling 4,176 shares during the period. Pembroke Management LTD owned about 0.56% of Seacoast Banking Co. of Florida worth $7,358,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Bank of Montreal Can lifted its stake in Seacoast Banking Co. of Florida by 16.5% during the first quarter. Bank of Montreal Can now owns 3,636 shares of the financial services provider’s stock worth $96,000 after purchasing an additional 516 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Seacoast Banking Co. of Florida during the first quarter worth about $224,000. BNP Paribas Arbitrage SA lifted its stake in Seacoast Banking Co. of Florida by 59,725.0% during the first quarter. BNP Paribas Arbitrage SA now owns 9,572 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 9,556 shares during the last quarter. Piedmont Investment Advisors Inc. lifted its stake in Seacoast Banking Co. of Florida by 5.3% during the first quarter. Piedmont Investment Advisors Inc. now owns 12,747 shares of the financial services provider’s stock worth $336,000 after purchasing an additional 639 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its stake in Seacoast Banking Co. of Florida by 326.8% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 14,068 shares of the financial services provider’s stock worth $366,000 after purchasing an additional 10,772 shares during the last quarter. 83.90% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Juliette Kleffel sold 4,433 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $24.13, for a total transaction of $106,968.29. Following the transaction, the executive vice president now owns 4,730 shares in the company, valued at approximately $114,134.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.70% of the stock is owned by insiders.

A number of equities research analysts have recently weighed in on the company. ValuEngine lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Raymond James set a $29.00 target price on Seacoast Banking Co. of Florida and gave the company a “buy” rating in a research note on Friday, June 21st. Hovde Group raised Seacoast Banking Co. of Florida from an “underperform” rating to a “market perform” rating in a research note on Tuesday, May 14th. B. Riley set a $30.00 target price on Seacoast Banking Co. of Florida and gave the company a “buy” rating in a research note on Thursday, July 11th. Finally, Zacks Investment Research lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, July 3rd. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $29.63.

Shares of NASDAQ SBCF traded down $0.55 during midday trading on Friday, reaching $25.86. The company had a trading volume of 214,406 shares, compared to its average volume of 183,551. Seacoast Banking Co. of Florida has a one year low of $21.74 and a one year high of $31.94. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.89 and a current ratio of 0.90. The company’s fifty day simple moving average is $25.43. The company has a market cap of $1.39 billion, a PE ratio of 15.96 and a beta of 0.91.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.50 earnings per share for the quarter, beating analysts’ consensus estimates of $0.48 by $0.02. Seacoast Banking Co. of Florida had a return on equity of 10.69% and a net margin of 24.05%. The company had revenue of $73.70 million during the quarter, compared to analyst estimates of $75.44 million. During the same quarter in the previous year, the company posted $0.38 EPS. Seacoast Banking Co. of Florida’s revenue for the quarter was up 17.2% on a year-over-year basis. As a group, research analysts anticipate that Seacoast Banking Co. of Florida will post 1.94 earnings per share for the current fiscal 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 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.

Read More: How is diluted EPS different from basic EPS?

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

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