Bank of America Corp DE Acquires 25,276 Shares of Seacoast Banking Co. of Florida (SBCF)

Bank of America Corp DE lifted its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 9.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 301,123 shares of the financial services provider’s stock after buying an additional 25,276 shares during the period. Bank of America Corp DE’s holdings in Seacoast Banking Co. of Florida were worth $7,836,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. lifted its stake in Seacoast Banking Co. of Florida by 4.7% in the 4th quarter. BlackRock Inc. now owns 6,956,987 shares of the financial services provider’s stock valued at $181,021,000 after purchasing an additional 313,393 shares during the last quarter. Stifel Financial Corp acquired a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at about $6,997,000. Pembroke Management LTD acquired a new stake in Seacoast Banking Co. of Florida in the 4th quarter valued at about $6,113,000. Dimensional Fund Advisors LP lifted its stake in Seacoast Banking Co. of Florida by 13.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,711,815 shares of the financial services provider’s stock valued at $49,984,000 after purchasing an additional 199,244 shares during the last quarter. Finally, Royce & Associates LP lifted its stake in Seacoast Banking Co. of Florida by 55.3% in the 4th quarter. Royce & Associates LP now owns 466,000 shares of the financial services provider’s stock valued at $12,125,000 after purchasing an additional 166,000 shares during the last quarter. Institutional investors own 82.60% of the company’s stock.

Several equities research analysts recently issued reports on the stock. BidaskClub upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Friday, March 1st. Hovde Group downgraded shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “underperform” rating and cut their target price for the company from $28.00 to $27.50 in a research note on Monday, March 4th. Zacks Investment Research upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Saturday, January 26th. Finally, FIG Partners downgraded shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research note on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. Seacoast Banking Co. of Florida has an average rating of “Hold” and an average target price of $31.63.

Seacoast Banking Co. of Florida stock opened at $27.89 on Wednesday. The stock has a market capitalization of $1.44 billion, a price-to-earnings ratio of 17.22 and a beta of 0.72. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.52. Seacoast Banking Co. of Florida has a twelve month low of $21.74 and a twelve month high of $34.95.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.03. The firm had revenue of $72.70 million for the quarter, compared to analysts’ expectations of $72.01 million. Seacoast Banking Co. of Florida had a net margin of 23.08% and a return on equity of 10.49%. The business’s revenue was down 2.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.37 EPS. As a group, equities analysts forecast that Seacoast Banking Co. of Florida will post 1.98 earnings per share for the current fiscal year.

In other Seacoast Banking Co. of Florida news, CEO Dennis S. Hudson III sold 8,000 shares of the stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $29.31, for a total value of $234,480.00. Following the transaction, the chief executive officer now directly owns 35,839 shares of the company’s stock, valued at approximately $1,050,441.09. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles K. Jr. Cross sold 4,812 shares of the stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $28.31, for a total transaction of $136,227.72. Following the completion of the transaction, the executive vice president now directly owns 17,287 shares in the company, valued at $489,394.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,226 shares of company stock worth $637,843. Insiders own 3.00% of the company’s stock.

WARNING: “Bank of America Corp DE Acquires 25,276 Shares of Seacoast Banking Co. of Florida (SBCF)” was published by Community Financial News and is the property of of Community Financial News. If you are reading this report on another publication, it was illegally copied and republished in violation of United States and international copyright and trademark law. The legal version of this report can be viewed at https://www.com-unik.info/2019/04/17/bank-of-america-corp-de-acquires-25276-shares-of-seacoast-banking-co-of-florida-sbcf.html.

Seacoast Banking Co. of Florida 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.

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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)

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