William Blair Investment Management LLC Trims Position in Seacoast Banking Co. of Florida (SBCF)

William Blair Investment Management LLC cut its position in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 784,718 shares of the financial services provider’s stock after selling 10,937 shares during the quarter. William Blair Investment Management LLC owned 1.67% of Seacoast Banking Co. of Florida worth $19,783,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. BNP Paribas Arbitrage SA raised its holdings in Seacoast Banking Co. of Florida by 58.4% during the third quarter. BNP Paribas Arbitrage SA now owns 6,776 shares of the financial services provider’s stock worth $162,000 after purchasing an additional 2,498 shares during the last quarter. Magnetar Financial LLC purchased a new position in Seacoast Banking Co. of Florida during the third quarter worth $203,000. Arrowstreet Capital Limited Partnership purchased a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $222,000. SG Americas Securities LLC purchased a new position in Seacoast Banking Co. of Florida during the third quarter worth $211,000. Finally, Navellier & Associates Inc purchased a new position in Seacoast Banking Co. of Florida during the fourth quarter worth $261,000. 76.10% of the stock is owned by hedge funds and other institutional investors.

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In other news, Director Roger Goldman sold 6,407 shares of Seacoast Banking Co. of Florida stock in a transaction 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 owns 23,572 shares of the company’s stock, valued at $646,108.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 2.80% of the stock is owned by insiders.

Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) opened at $25.98 on Monday. The company has a market capitalization of $1,218.92, a price-to-earnings ratio of 20.46 and a beta of 0.65. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.82 and a quick ratio of 0.81. Seacoast Banking Co. of Florida has a 1 year low of $20.58 and a 1 year high of $28.44.

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 Zacks’ consensus estimate of $0.36 by $0.01. The business had revenue of $74.87 million during the quarter, compared to the consensus estimate of $67.93 million. Seacoast Banking Co. of Florida had a return on equity of 9.36% and a net margin of 17.14%. The business’s revenue for the quarter was up 58.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.30 earnings per share. analysts expect that Seacoast Banking Co. of Florida will post 1.77 EPS for the current year.

SBCF has been the subject of several recent research reports. Sandler O’Neill raised Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Thursday, January 11th. BidaskClub downgraded Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Zacks Investment Research downgraded Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Wednesday, February 14th. Guggenheim reissued a “hold” rating and set a $28.00 price target on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, January 31st. Finally, Hovde Group raised Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating and dropped their price target for the stock from $30.00 to $29.00 in a research report on Wednesday, February 7th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price 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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Institutional Ownership by Quarter for Seacoast Banking Co. of Florida (NASDAQ:SBCF)

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