Seacoast Banking Co. of Florida (NASDAQ:SBCF) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund cut its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.7% during the 1st quarter, HoldingsChannel.com reports. The firm owned 74,553 shares of the financial services provider’s stock after selling 6,198 shares during the period. New York State Common Retirement Fund’s holdings in Seacoast Banking Co. of Florida were worth $1,964,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the company. Mason Street Advisors LLC raised its holdings in Seacoast Banking Co. of Florida by 3.5% during the first quarter. Mason Street Advisors LLC now owns 16,481 shares of the financial services provider’s stock valued at $434,000 after buying an additional 559 shares in the last quarter. Raymond James & Associates raised its holdings in Seacoast Banking Co. of Florida by 49.5% during the first quarter. Raymond James & Associates now owns 14,114 shares of the financial services provider’s stock valued at $372,000 after buying an additional 4,674 shares in the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in Seacoast Banking Co. of Florida by 8.6% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 38,723 shares of the financial services provider’s stock valued at $1,020,000 after buying an additional 3,058 shares in the last quarter. Everence Capital Management Inc. bought a new position in Seacoast Banking Co. of Florida during the first quarter valued at about $224,000. Finally, Texas Permanent School Fund raised its holdings in Seacoast Banking Co. of Florida by 3.9% during the first quarter. Texas Permanent School Fund now owns 34,845 shares of the financial services provider’s stock valued at $918,000 after buying an additional 1,295 shares in the last quarter. Institutional investors own 83.94% of the company’s stock.

In other news, EVP Juliette Kleffel sold 4,433 shares of Seacoast Banking Co. of Florida stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $24.13, for a total value of $106,968.29. Following the transaction, the executive vice president now directly owns 4,730 shares in the company, valued at $114,134.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.70% of the company’s stock.

Seacoast Banking Co. of Florida stock opened at $24.25 on Friday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.87 and a current ratio of 0.87. The stock has a market capitalization of $1.24 billion, a PE ratio of 14.97 and a beta of 0.90. Seacoast Banking Co. of Florida has a 52 week low of $21.74 and a 52 week high of $34.95.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.47 EPS for the quarter, hitting analysts’ consensus estimates of $0.47. The business had revenue of $73.61 million for the quarter, compared to analyst estimates of $74.28 million. Seacoast Banking Co. of Florida had a return on equity of 10.47% and a net margin of 23.29%. During the same period in the previous year, the company posted $0.40 earnings per share. Analysts anticipate that Seacoast Banking Co. of Florida will post 1.99 EPS for the current year.

Several equities analysts have weighed in on SBCF shares. BidaskClub lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, February 20th. Hovde Group lowered Seacoast Banking Co. of Florida from a “market perform” rating to an “underperform” rating and dropped their price objective for the stock from $28.00 to $27.50 in a research note on Monday, March 4th. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $32.00 price objective on the stock in a research note on Wednesday, May 1st. Finally, ValuEngine lowered Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, May 22nd. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. Seacoast Banking Co. of Florida currently has a consensus rating of “Hold” and an average price target of $30.63.

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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 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.

Read More: What is an SEC Filing?

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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