MARSHALL WACE ASIA Ltd Takes Position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF)

MARSHALL WACE ASIA Ltd acquired a new stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 17,068 shares of the financial services provider’s stock, valued at approximately $410,000.

A number of other hedge funds have also recently modified their holdings of the company. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at $200,000. SG Americas Securities LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at $209,000. Federated Investors Inc. PA boosted its stake in shares of Seacoast Banking Corporation of Florida by 6,961.3% in the fourth quarter. Federated Investors Inc. PA now owns 9,674 shares of the financial services provider’s stock valued at $213,000 after buying an additional 9,537 shares in the last quarter. Geneva Advisors LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at $240,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Seacoast Banking Corporation of Florida during the first quarter valued at $335,000. 71.54% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Seacoast Banking Corporation of Florida (NASDAQ SBCF) traded down 3.33% during trading on Friday, hitting $23.55. 455,087 shares of the stock were exchanged. The firm has a 50 day moving average price of $24.12 and a 200 day moving average price of $23.48. The firm has a market capitalization of $914.66 million, a P/E ratio of 27.29 and a beta of 0.78. Seacoast Banking Corporation of Florida has a 52 week low of $15.85 and a 52 week high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, meeting the consensus estimate of $0.29. The firm had revenue of $54.60 million for the quarter, compared to analyst estimates of $53.90 million. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.80%. The business’s quarterly revenue was up 25.2% compared to the same quarter last year. During the same period last year, the firm earned $0.24 EPS. Analysts forecast that Seacoast Banking Corporation of Florida will post $1.25 EPS for the current fiscal year.

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Several brokerages have weighed in on SBCF. BidaskClub cut shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $26.00 price objective on the stock in a research note on Wednesday, June 28th. Finally, FIG Partners raised shares of Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research note on Friday, May 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $22.60.

In related news, Director Roger Goldman sold 3,000 shares of Seacoast Banking Corporation of Florida stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $22.55, for a total transaction of $67,650.00. Following the sale, the director now directly owns 20,072 shares of the company’s stock, valued at approximately $452,623.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

About Seacoast Banking Corporation of Florida

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

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

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