Seacoast Banking Co. of Florida (NASDAQ:SBCF) Holdings Lifted by Rhumbline Advisers

Rhumbline Advisers increased its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 159,091 shares of the financial services provider’s stock after purchasing an additional 9,170 shares during the quarter. Rhumbline Advisers’ holdings in Seacoast Banking Co. of Florida were worth $4,027,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 3.7% during the second quarter. BlackRock Inc. now owns 7,416,663 shares of the financial services provider’s stock valued at $188,679,000 after buying an additional 265,759 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 1.2% during the second quarter. Vanguard Group Inc. now owns 3,096,058 shares of the financial services provider’s stock valued at $78,764,000 after buying an additional 36,426 shares in the last quarter. Waddell & Reed Financial Inc. grew its holdings in shares of Seacoast Banking Co. of Florida by 6.3% during the second quarter. Waddell & Reed Financial Inc. now owns 1,174,538 shares of the financial services provider’s stock valued at $29,880,000 after buying an additional 69,150 shares in the last quarter. Investment Counselors of Maryland LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 1.1% during the second quarter. Investment Counselors of Maryland LLC now owns 862,312 shares of the financial services provider’s stock valued at $21,937,000 after buying an additional 9,394 shares in the last quarter. Finally, Northern Trust Corp grew its holdings in shares of Seacoast Banking Co. of Florida by 3.5% during the second quarter. Northern Trust Corp now owns 668,689 shares of the financial services provider’s stock valued at $17,012,000 after buying an additional 22,919 shares in the last quarter. Institutional investors and hedge funds own 83.51% of the company’s stock.

Shares of NASDAQ SBCF opened at $29.38 on Friday. The business’s 50-day moving average price is $26.31 and its two-hundred day moving average price is $25.53. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.89 and a quick ratio of 0.89. Seacoast Banking Co. of Florida has a one year low of $22.35 and a one year high of $29.93. The company has a market capitalization of $1.52 billion, a P/E ratio of 18.14 and a beta of 0.98.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, October 24th. The financial services provider reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.48 by $0.01. Seacoast Banking Co. of Florida had a return on equity of 11.13% and a net margin of 25.69%. The firm had revenue of $74.89 million for the quarter, compared to the consensus estimate of $74.73 million. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business’s quarterly revenue was up 17.3% compared to the same quarter last year. On average, equities analysts anticipate that Seacoast Banking Co. of Florida will post 1.99 EPS for the current year.

SBCF has been the topic of a number of recent research reports. ValuEngine upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Friday, November 1st. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, October 30th. BidaskClub upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. Finally, B. Riley downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “neutral” rating and boosted their target price for the company from $29.00 to $30.00 in a research note on Monday, October 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $29.63.

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 treasury management services, as well as home mortgage products; and brokerage and annuity services.

See Also: What is Blockchain?

Want to see what other hedge funds are holding SBCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seacoast Banking Co. of Florida (NASDAQ:SBCF).

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

Receive News & Ratings for Seacoast Banking Co. of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Co. of Florida and related companies with MarketBeat.com's FREE daily email newsletter.