Seacoast Banking Co. of Florida (SBCF) Shares Bought by Arizona State Retirement System

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Arizona State Retirement System boosted its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,955 shares of the financial services provider’s stock after purchasing an additional 10,571 shares during the period. Arizona State Retirement System’s holdings in Seacoast Banking Co. of Florida were worth $2,054,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of SBCF. New York State Teachers Retirement System boosted its position in shares of Seacoast Banking Co. of Florida by 5.5% during the fourth quarter. New York State Teachers Retirement System now owns 21,284 shares of the financial services provider’s stock worth $554,000 after acquiring an additional 1,104 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Seacoast Banking Co. of Florida by 35.7% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock valued at $71,000 after purchasing an additional 716 shares during the last quarter. CWM LLC lifted its position in Seacoast Banking Co. of Florida by 564.4% during the fourth quarter. CWM LLC now owns 18,650 shares of the financial services provider’s stock valued at $485,000 after purchasing an additional 15,843 shares during the last quarter. Pembroke Management LTD bought a new position in Seacoast Banking Co. of Florida during the fourth quarter valued at $6,113,000. Finally, Bank of Montreal Can lifted its position in Seacoast Banking Co. of Florida by 16.0% during the fourth quarter. Bank of Montreal Can now owns 3,120 shares of the financial services provider’s stock valued at $81,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 87.12% of the company’s stock.

Several equities analysts have commented on SBCF shares. Raymond James upgraded shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 15th. BidaskClub lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, December 21st. Hovde Group lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 2nd. FIG Partners lowered shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Friday, January 25th. Finally, Zacks Investment Research lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, January 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $33.75.

SBCF stock opened at $28.98 on Thursday. Seacoast Banking Co. of Florida has a 52 week low of $21.74 and a 52 week high of $34.95. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of 17.89 and a beta of 0.69.

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

In other news, EVP Charles M. Shaffer sold 4,414 shares of the firm’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $27.50, for a total value of $121,385.00. Following the completion of the sale, the executive vice president now owns 14,881 shares in the company, valued at approximately $409,227.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles K. Jr. Cross sold 4,812 shares of the firm’s stock in a transaction dated Thursday, February 7th. The stock was sold at an average price of $28.31, for a total transaction of $136,227.72. Following the completion of the sale, the executive vice president now owns 17,287 shares of the company’s stock, valued at approximately $489,394.97. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by company insiders.

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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 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.

Further Reading: How to use beta for portfolio diversification

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

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