Schwab Charles Investment Management Inc. Purchases 21,678 Shares of Seacoast Banking Corporation of Florida (SBCF)

Schwab Charles Investment Management Inc. boosted its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 18.1% during the first quarter, Holdings Channel reports. The institutional investor owned 141,508 shares of the financial services provider’s stock after buying an additional 21,678 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Seacoast Banking Corporation of Florida were worth $3,394,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SBCF. Wellington Management Group LLP purchased a new position in Seacoast Banking Corporation of Florida during the first quarter worth $37,908,000. Vanguard Group Inc. increased its position in Seacoast Banking Corporation of Florida by 37.6% in the first quarter. Vanguard Group Inc. now owns 1,527,831 shares of the financial services provider’s stock valued at $36,637,000 after buying an additional 417,334 shares during the period. Dimensional Fund Advisors LP increased its position in Seacoast Banking Corporation of Florida by 17.1% in the first quarter. Dimensional Fund Advisors LP now owns 1,309,019 shares of the financial services provider’s stock valued at $31,391,000 after buying an additional 191,182 shares during the period. Mendon Capital Advisors Corp increased its position in Seacoast Banking Corporation of Florida by 141.0% in the first quarter. Mendon Capital Advisors Corp now owns 1,306,346 shares of the financial services provider’s stock valued at $31,326,000 after buying an additional 764,260 shares during the period. Finally, Bank of New York Mellon Corp increased its position in Seacoast Banking Corporation of Florida by 22.6% in the first quarter. Bank of New York Mellon Corp now owns 952,602 shares of the financial services provider’s stock valued at $22,844,000 after buying an additional 175,376 shares during the period. 74.02% of the stock is currently owned by institutional investors.

Shares of Seacoast Banking Corporation of Florida (SBCF) traded down 1.28% during mid-day trading on Friday, reaching $22.42. The company had a trading volume of 46,140 shares. Seacoast Banking Corporation of Florida has a 52 week low of $15.85 and a 52 week high of $25.88. The company has a market capitalization of $960.50 million, a price-to-earnings ratio of 24.94 and a beta of 0.77. The stock has a 50 day moving average of $23.73 and a 200-day moving average of $23.64.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, meeting analysts’ consensus estimates of $0.29. Seacoast Banking Corporation of Florida had a return on equity of 9.20% and a net margin of 17.09%. The business had revenue of $54.60 million during the quarter, compared to analysts’ expectations of $53.90 million. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The business’s revenue was up 25.2% compared to the same quarter last year. On average, analysts expect that Seacoast Banking Corporation of Florida will post $1.23 earnings per share for the current fiscal year.

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Several research analysts have recently commented on SBCF shares. BidaskClub raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research note on Tuesday, August 1st. Zacks Investment Research downgraded Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, FIG Partners raised Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research note on Friday, May 19th. Four analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Seacoast Banking Corporation of Florida presently has an average rating of “Buy” and a consensus target price of $22.60.

In other news, Director Roger Goldman sold 3,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total value of $67,650.00. Following the completion of the sale, the director now directly owns 20,072 shares in the company, valued at $452,623.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.80% of the stock is owned by corporate insiders.

Seacoast Banking Corporation of Florida Company Profile

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.

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 Corporation of Florida (NASDAQ:SBCF).

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

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