IFP Advisors Inc Has $1.60 Million Stake in Seacoast Banking Co. of Florida (SBCF)

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IFP Advisors Inc decreased its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 54,637 shares of the financial services provider’s stock after selling 2,000 shares during the quarter. IFP Advisors Inc’s holdings in Seacoast Banking Co. of Florida were worth $1,595,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Cornerstone Wealth Management LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at about $212,000. Amalgamated Bank purchased a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at about $216,000. Aperio Group LLC purchased a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at about $221,000. United Services Automobile Association purchased a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at about $232,000. Finally, Raymond James & Associates purchased a new stake in shares of Seacoast Banking Co. of Florida in the second quarter valued at about $259,000. 84.16% of the stock is currently owned by institutional investors and hedge funds.

SBCF has been the topic of several analyst reports. BidaskClub downgraded shares of Seacoast Banking Co. of Florida from a “strong-buy” rating to a “buy” rating in a report on Friday, July 13th. Zacks Investment Research raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $36.00 target price on the stock in a report on Friday, July 13th. Sandler O’Neill set a $31.00 target price on shares of Seacoast Banking Co. of Florida and gave the company a “hold” rating in a report on Saturday, July 28th. ValuEngine downgraded shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Finally, B. Riley lowered their target price on shares of Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $32.60.

Shares of NASDAQ:SBCF opened at $25.21 on Tuesday. The stock has a market capitalization of $1.17 billion, a PE ratio of 19.70 and a beta of 0.54. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.45. Seacoast Banking Co. of Florida has a fifty-two week low of $21.74 and a fifty-two week high of $34.95.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.07). The company had revenue of $63.85 million for the quarter, compared to analysts’ expectations of $65.27 million. Seacoast Banking Co. of Florida had a return on equity of 10.20% and a net margin of 22.30%. On average, equities analysts predict that Seacoast Banking Co. of Florida will post 1.63 earnings per share for the current fiscal year.

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 business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; 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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