New York State Common Retirement Fund Increases Holdings in Seacoast Banking Corporation of Florida (SBCF)

New York State Common Retirement Fund boosted its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 38.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,800 shares of the financial services provider’s stock after acquiring an additional 11,799 shares during the period. New York State Common Retirement Fund owned 0.10% of Seacoast Banking Corporation of Florida worth $1,031,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Thrivent Financial For Lutherans raised its position in Seacoast Banking Corporation of Florida by 254.6% in the second quarter. Thrivent Financial For Lutherans now owns 275,280 shares of the financial services provider’s stock worth $6,634,000 after acquiring an additional 197,640 shares during the period. Nationwide Fund Advisors increased its stake in shares of Seacoast Banking Corporation of Florida by 9.9% in the second quarter. Nationwide Fund Advisors now owns 53,880 shares of the financial services provider’s stock worth $1,299,000 after purchasing an additional 4,850 shares in the last quarter. King Luther Capital Management Corp increased its stake in shares of Seacoast Banking Corporation of Florida by 56.3% in the second quarter. King Luther Capital Management Corp now owns 129,470 shares of the financial services provider’s stock worth $3,120,000 after purchasing an additional 46,655 shares in the last quarter. Ameriprise Financial Inc. increased its stake in shares of Seacoast Banking Corporation of Florida by 37.5% in the second quarter. Ameriprise Financial Inc. now owns 122,781 shares of the financial services provider’s stock worth $2,959,000 after purchasing an additional 33,500 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its stake in shares of Seacoast Banking Corporation of Florida by 5.8% in the second quarter. TIAA CREF Investment Management LLC now owns 135,984 shares of the financial services provider’s stock worth $3,277,000 after purchasing an additional 7,424 shares in the last quarter. 77.51% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on SBCF shares. BidaskClub upgraded shares of 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 shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, FBR & Co reiterated a “buy” rating on shares of Seacoast Banking Corporation of Florida in a research note on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. Seacoast Banking Corporation of Florida presently has a consensus rating of “Hold” and an average target price of $24.67.

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Seacoast Banking Corporation of Florida (NASDAQ:SBCF) opened at $24.31 on Friday. The company has a market capitalization of $1,087.81, a price-to-earnings ratio of 20.83 and a beta of 0.77. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.83 and a current ratio of 0.83.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 9.78% and a net margin of 18.48%. The business had revenue of $57.10 million during the quarter, compared to analyst estimates of $57.55 million. During the same period in the prior year, the company posted $0.28 EPS. The business’s revenue for the quarter was up 20.9% compared to the same quarter last year. analysts expect that Seacoast Banking Corporation of Florida will post 1.24 earnings per share for the current fiscal year.

In related news, Director Roger Goldman sold 2,200 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $24.11, for a total value of $53,042.00. Following the completion of the transaction, the director now directly owns 20,072 shares of the company’s stock, valued at approximately $483,935.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.80% of the company’s stock.

Seacoast Banking Corporation of Florida 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.

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

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