Seacoast Banking Co. of Florida (SBCF) Shares Bought by Interval Partners LP

Interval Partners LP boosted its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 48.5% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 130,007 shares of the financial services provider’s stock after purchasing an additional 42,465 shares during the quarter. Interval Partners LP’s holdings in Seacoast Banking Co. of Florida were worth $3,441,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Seacoast Banking Co. of Florida by 86.4% in the 1st quarter. BlackRock Inc. now owns 6,285,278 shares of the financial services provider’s stock worth $166,372,000 after purchasing an additional 2,912,480 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Seacoast Banking Co. of Florida by 1.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,497,035 shares of the financial services provider’s stock worth $39,627,000 after purchasing an additional 17,337 shares in the last quarter. Millennium Management LLC lifted its stake in Seacoast Banking Co. of Florida by 11.8% in the 4th quarter. Millennium Management LLC now owns 1,371,910 shares of the financial services provider’s stock worth $34,586,000 after purchasing an additional 144,637 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in Seacoast Banking Co. of Florida by 7.9% in the 1st quarter. Thrivent Financial for Lutherans now owns 1,146,959 shares of the financial services provider’s stock worth $30,360,000 after purchasing an additional 83,599 shares in the last quarter. Finally, Thrivent Financial For Lutherans lifted its stake in Seacoast Banking Co. of Florida by 162.3% in the 4th quarter. Thrivent Financial For Lutherans now owns 1,063,360 shares of the financial services provider’s stock worth $26,808,000 after purchasing an additional 657,993 shares in the last quarter. Institutional investors and hedge funds own 82.86% of the company’s stock.

Several brokerages have recently issued reports on SBCF. Sandler O’Neill cut shares of Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, May 31st. Raymond James cut shares of Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating in a research report on Tuesday, May 29th. They noted that the move was a valuation call. BidaskClub upgraded shares of Seacoast Banking Co. of Florida from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. Zacks Investment Research cut shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, May 2nd. Finally, ValuEngine upgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research report on Saturday, April 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $29.00.

In related news, Director Roger Goldman sold 7,200 shares of the company’s stock in a transaction dated Friday, May 4th. The shares were sold at an average price of $27.38, for a total transaction of $197,136.00. Following the transaction, the director now directly owns 13,165 shares in the company, valued at approximately $360,457.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles M. Shaffer sold 1,571 shares of the company’s stock in a transaction dated Tuesday, May 1st. The shares were sold at an average price of $27.53, for a total transaction of $43,249.63. Following the transaction, the executive vice president now owns 14,343 shares in the company, valued at $394,862.79. The disclosure for this sale can be found here. Insiders have sold a total of 13,785 shares of company stock worth $391,004 over the last quarter. 3.00% of the stock is currently owned by insiders.

Shares of Seacoast Banking Co. of Florida opened at $32.62 on Wednesday, according to Marketbeat. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.82 and a current ratio of 0.83. The stock has a market cap of $1.49 billion, a PE ratio of 25.48 and a beta of 0.68. Seacoast Banking Co. of Florida has a 12-month low of $20.58 and a 12-month high of $32.69.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last issued its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.40 EPS for the quarter, beating the consensus estimate of $0.39 by $0.01. The company had revenue of $62.10 million for the quarter, compared to the consensus estimate of $61.60 million. Seacoast Banking Co. of Florida had a net margin of 19.83% and a return on equity of 10.05%. The firm’s revenue was up 29.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.26 EPS. sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.75 EPS for the current 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.

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)

Receive News & Ratings for Seacoast Banking Co. of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Co. of Florida and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply