Seacoast Banking Co. of Florida (SBCF) Director Sells $175,615.87 in Stock

Seacoast Banking Co. of Florida (NASDAQ:SBCF) Director Roger Goldman sold 6,407 shares of the firm’s stock in a transaction that occurred on Wednesday, March 7th. The stock was sold at an average price of $27.41, for a total value of $175,615.87. Following the completion of the sale, the director now directly owns 23,572 shares in the company, valued at approximately $646,108.52. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Seacoast Banking Co. of Florida (SBCF) traded down $0.48 on Tuesday, reaching $27.59. The company had a trading volume of 269,882 shares, compared to its average volume of 526,766. 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 current ratio of 0.82, a quick ratio of 0.81 and a debt-to-equity ratio of 0.41. The firm has a market cap of $1,316.04, a PE ratio of 28.15 and a beta of 0.65.

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Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.37 EPS for the quarter, beating the 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 firm had revenue of $74.87 million for the quarter, compared to analysts’ expectations of $67.93 million. During the same period last year, the firm earned $0.30 EPS. The firm’s revenue was up 58.1% compared to the same quarter last year. equities analysts predict that Seacoast Banking Co. of Florida will post 1.77 EPS for the current fiscal year.

Institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA increased its position in Seacoast Banking Co. of Florida by 58.4% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 6,776 shares of the financial services provider’s stock valued at $162,000 after acquiring an additional 2,498 shares during the period. Magnetar Financial LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 3rd quarter valued at $203,000. Arrowstreet Capital Limited Partnership acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at $222,000. SG Americas Securities LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 3rd quarter valued at $211,000. Finally, Navellier & Associates Inc acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter valued at $261,000. Hedge funds and other institutional investors own 76.10% of the company’s stock.

Several brokerages recently issued reports on SBCF. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. BidaskClub upgraded Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Sandler O’Neill set a $27.00 target price on Seacoast Banking Co. of Florida and gave the company a “hold” rating in a research report on Thursday, January 4th. Hovde Group set a $27.00 target price on Seacoast Banking Co. of Florida and gave the company a “hold” rating in a research report on Wednesday, January 3rd. Finally, B. Riley restated a “buy” rating and issued a $30.00 target price on shares of Seacoast Banking Co. of Florida in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, one has given a hold rating and six have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $29.00.

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About Seacoast Banking Co. of Florida

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (the Bank). The Company and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers.

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