Seacoast Banking Corp. of Florida (NASDAQ:SBCF) Director Julie H. Daum bought 3,000 shares of Seacoast Banking Corp. of Florida stock in a transaction dated Tuesday, November 29th. The stock was purchased at an average price of $19.93 per share, with a total value of $59,790.00. Following the purchase, the director now directly owns 21,456 shares in the company, valued at approximately $427,618.08. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Seacoast Banking Corp. of Florida (NASDAQ:SBCF) opened at 20.56 on Thursday. The stock has a market capitalization of $772.01 million, a P/E ratio of 30.73 and a beta of 0.79. The firm’s 50-day moving average is $17.68 and its 200 day moving average is $16.73. Seacoast Banking Corp. of Florida has a 12-month low of $13.40 and a 12-month high of $19.88.

Seacoast Banking Corp. of Florida (NASDAQ:SBCF) last released its earnings results on Wednesday, October 26th. The financial services provider reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.27 by $0.01. Seacoast Banking Corp. of Florida had a net margin of 13.51% and a return on equity of 7.99%. The firm earned $47.21 million during the quarter, compared to analyst estimates of $47.20 million. During the same quarter in the previous year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. Equities research analysts anticipate that Seacoast Banking Corp. of Florida will post $1.00 earnings per share for the current year.

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SBCF has been the subject of several recent analyst reports. Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Corp. of Florida from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $18.00 to $20.00 in a research note on Thursday, September 1st. Zacks Investment Research upgraded shares of Seacoast Banking Corp. of Florida from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a research note on Friday, August 5th. Hovde Group cut shares of Seacoast Banking Corp. of Florida from an “outperform” rating to a “market perform” rating in a research note on Tuesday, September 6th. FIG Partners cut shares of Seacoast Banking Corp. of Florida from an “outperform” rating to a “market perform” rating in a research note on Monday, November 7th. Finally, Raymond James Financial Inc. began coverage on shares of Seacoast Banking Corp. of Florida in a research note on Wednesday. They issued an “outperform” rating for the company. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $19.38.

A number of hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Seacoast Banking Corp. of Florida by 1.0% in the second quarter. PNC Financial Services Group Inc. now owns 10,978 shares of the financial services provider’s stock valued at $178,000 after buying an additional 109 shares during the last quarter. Commonwealth Equity Services Inc raised its position in Seacoast Banking Corp. of Florida by 11.5% in the second quarter. Commonwealth Equity Services Inc now owns 11,646 shares of the financial services provider’s stock valued at $189,000 after buying an additional 1,200 shares in the last quarter. Janney Montgomery Scott LLC raised its position in Seacoast Banking Corp. of Florida by 33.3% in the second quarter. Janney Montgomery Scott LLC now owns 13,600 shares of the financial services provider’s stock valued at $204,000 after buying an additional 3,400 shares in the last quarter. BlackRock Inc. raised its position in Seacoast Banking Corp. of Florida by 721.1% in the second quarter. BlackRock Inc. now owns 13,285 shares of the financial services provider’s stock valued at $216,000 after buying an additional 11,667 shares in the last quarter. Finally, Citadel Advisors LLC purchased a new position in Seacoast Banking Corp. of Florida during the second quarter valued at approximately $237,000. Hedge funds and other institutional investors own 53.01% of the company’s stock.

About Seacoast Banking Corp. 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 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.

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