New York State Common Retirement Fund Sells 6,100 Shares of Seacoast Banking Co. of Florida (SBCF)

New York State Common Retirement Fund lessened its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.0% during the 4th quarter, HoldingsChannel reports. The fund owned 80,751 shares of the financial services provider’s stock after selling 6,100 shares during the period. New York State Common Retirement Fund’s holdings in Seacoast Banking Co. of Florida were worth $2,101,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Bank of Montreal Can raised 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 acquiring an additional 431 shares in the last quarter. Victory Capital Management Inc. raised its position in Seacoast Banking Co. of Florida by 4.1% during the fourth quarter. Victory Capital Management Inc. now owns 17,306 shares of the financial services provider’s stock valued at $450,000 after acquiring an additional 674 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised 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 acquiring an additional 716 shares in the last quarter. New York State Teachers Retirement System raised its position in 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 valued at $554,000 after acquiring an additional 1,104 shares in the last quarter. Finally, Piedmont Investment Advisors Inc. raised its position in Seacoast Banking Co. of Florida by 11.7% during the fourth quarter. Piedmont Investment Advisors Inc. now owns 12,108 shares of the financial services provider’s stock valued at $315,000 after acquiring an additional 1,271 shares in the last quarter. 82.54% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Dennis S. Hudson III sold 8,000 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Friday, February 22nd. The shares were sold at an average price of $29.31, for a total value of $234,480.00. Following the transaction, the chief executive officer now owns 35,839 shares of the company’s stock, valued at $1,050,441.09. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP David D. Houdeshell sold 5,000 shares of Seacoast Banking Co. of Florida stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $29.15, for a total transaction of $145,750.00. Following the completion of the transaction, the executive vice president now directly owns 18,197 shares in the company, valued at approximately $530,442.55. The disclosure for this sale can be found here. In the last three months, insiders sold 22,226 shares of company stock worth $637,843. Insiders own 3.00% of the company’s stock.

Several equities analysts recently weighed in on SBCF shares. 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. 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. BidaskClub lowered shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. Finally, 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. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Seacoast Banking Co. of Florida has an average rating of “Hold” and an average target price of $31.63.

NASDAQ:SBCF opened at $27.11 on Friday. Seacoast Banking Co. of Florida has a 12 month low of $21.74 and a 12 month high of $34.95. The company has a market capitalization of $1.41 billion, a PE ratio of 16.73 and a beta of 0.74. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.91 and a current ratio of 0.91.

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

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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 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.

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

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