Arrowstreet Capital Limited Partnership Acquires Shares of 8,800 Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Arrowstreet Capital Limited Partnership acquired a new stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,800 shares of the financial services provider’s stock, valued at approximately $222,000.

Other hedge funds also recently bought and sold shares of the company. BlackRock Inc. increased its holdings in shares of Seacoast Banking Co. of Florida by 0.4% in the 4th quarter. BlackRock Inc. now owns 3,372,798 shares of the financial services provider’s stock worth $85,028,000 after purchasing an additional 14,076 shares in the last quarter. Jennison Associates LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 25.0% in the fourth quarter. Jennison Associates LLC now owns 2,002,000 shares of the financial services provider’s stock worth $50,470,000 after acquiring an additional 400,045 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of Seacoast Banking Co. of Florida by 2.5% in the third quarter. Dimensional Fund Advisors LP now owns 1,355,098 shares of the financial services provider’s stock worth $32,374,000 after acquiring an additional 33,161 shares during the period. Bank of New York Mellon Corp grew its holdings in shares of Seacoast Banking Co. of Florida by 8.4% in the fourth quarter. Bank of New York Mellon Corp now owns 935,155 shares of the financial services provider’s stock worth $23,575,000 after acquiring an additional 72,813 shares during the period. Finally, Segall Bryant & Hamill LLC grew its holdings in shares of Seacoast Banking Co. of Florida by 2.6% in the third quarter. Segall Bryant & Hamill LLC now owns 692,365 shares of the financial services provider’s stock worth $16,541,000 after acquiring an additional 17,526 shares during the period. 76.10% of the stock is owned by institutional investors.

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Shares of Seacoast Banking Co. of Florida stock traded down $0.73 during trading hours on Friday, hitting $26.47. The company’s stock had a trading volume of 267,599 shares, compared to its average volume of 335,764. Seacoast Banking Co. of Florida has a 12-month low of $20.58 and a 12-month high of $28.44. The company has a market capitalization of $1,241.92, a price-to-earnings ratio of 20.68 and a beta of 0.65. The company has a quick ratio of 0.81, a current ratio of 0.82 and a debt-to-equity ratio of 0.41.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Seacoast Banking Co. of Florida had a return on equity of 9.36% and a net margin of 17.14%. The business had revenue of $74.87 million for the quarter, compared to the consensus estimate of $67.93 million. During the same period in the previous year, the business earned $0.30 earnings per share. The business’s revenue was up 58.1% on a year-over-year basis. equities analysts expect that Seacoast Banking Co. of Florida will post 1.77 earnings per share for the current year.

Several analysts recently commented on SBCF shares. BidaskClub lowered Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a report on Tuesday, December 12th. Zacks Investment Research raised Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Saturday, December 30th. Hovde Group set a $27.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a report on Wednesday, January 3rd. Sandler O’Neill set a $27.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a report on Thursday, January 4th. Finally, B. Riley reiterated a “buy” rating and set a $30.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Friday, January 26th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Seacoast Banking Co. of Florida presently has a consensus rating of “Buy” and an average price target of $29.00.

In related news, Director Roger Goldman sold 6,407 shares of the business’s stock in a transaction dated Wednesday, March 7th. The stock was sold at an average price of $27.41, for a total value of $175,615.87. Following the sale, the director now directly owns 23,572 shares in the company, valued at $646,108.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by insiders.

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Seacoast Banking Co. of Florida Company 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.

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

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