Trexquant Investment LP purchased a new position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,709 shares of the financial services provider’s stock, valued at approximately $258,000.

A number of other hedge funds have also made changes to their positions in the stock. Wellington Management Group LLP purchased a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at about $37,908,000. Mendon Capital Advisors Corp raised its stake in Seacoast Banking Corporation of Florida by 141.0% in the first quarter. Mendon Capital Advisors Corp now owns 1,306,346 shares of the financial services provider’s stock valued at $31,326,000 after buying an additional 764,260 shares during the last quarter. Jennison Associates LLC purchased a new stake in Seacoast Banking Corporation of Florida during the first quarter valued at about $17,287,000. State Street Corp raised its stake in Seacoast Banking Corporation of Florida by 97.4% in the first quarter. State Street Corp now owns 962,034 shares of the financial services provider’s stock valued at $23,071,000 after buying an additional 474,704 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Seacoast Banking Corporation of Florida by 37.6% in the first quarter. Vanguard Group Inc. now owns 1,527,831 shares of the financial services provider’s stock valued at $36,637,000 after buying an additional 417,334 shares during the last quarter. Institutional investors and hedge funds own 74.02% of the company’s stock.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at 22.40 on Monday. The company’s 50-day moving average is $23.68 and its 200 day moving average is $23.65. The company has a market cap of $959.64 million, a price-to-earnings ratio of 24.92 and a beta of 0.77. Seacoast Banking Corporation of Florida has a 52-week low of $15.85 and a 52-week high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its quarterly earnings data on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, hitting the consensus estimate of $0.29. Seacoast Banking Corporation of Florida had a return on equity of 9.20% and a net margin of 17.09%. The company had revenue of $54.60 million during the quarter, compared to the consensus estimate of $53.90 million. During the same period last year, the company earned $0.24 EPS. Seacoast Banking Corporation of Florida’s revenue for the quarter was up 25.2% on a year-over-year basis. Equities analysts forecast that Seacoast Banking Corporation of Florida will post $1.23 earnings per share for the current fiscal year.

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SBCF has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. FIG Partners upgraded shares of Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a research note on Friday, May 19th. Finally, BidaskClub lowered shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Seacoast Banking Corporation of Florida has a consensus rating of “Buy” and a consensus price target of $22.60.

In related news, Director Roger Goldman sold 3,000 shares of Seacoast Banking Corporation of Florida stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total value of $67,650.00. Following the completion of the sale, the director now directly owns 20,072 shares in the company, valued at approximately $452,623.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.80% of the stock is currently owned by company insiders.

Seacoast Banking Corporation of Florida Company Profile

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 Corporation of Florida (NASDAQ:SBCF)

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