Great West Life Assurance Co. Can held its stake in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,040 shares of the financial services provider’s stock at the end of the second quarter. Great West Life Assurance Co. Can’s holdings in Seacoast Banking Corporation of Florida were worth $121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SBCF. US Bancorp DE increased its position in Seacoast Banking Corporation of Florida by 0.5% during the second quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock worth $100,000 after buying an additional 20 shares during the last quarter. Globeflex Capital L P acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth approximately $116,000. Raymond James Financial Services Advisors Inc. acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth approximately $200,000. SG Americas Securities LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth approximately $209,000. Finally, Janney Montgomery Scott LLC acquired a new position in Seacoast Banking Corporation of Florida during the first quarter worth approximately $335,000. 77.50% of the stock is currently owned by hedge funds and other institutional investors.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at 22.08 on Tuesday. The stock has a 50 day moving average price of $22.69 and a 200 day moving average price of $23.49. Seacoast Banking Corporation of Florida has a 52-week low of $15.85 and a 52-week high of $25.88. The firm has a market cap of $945.93 million, a P/E ratio of 24.56 and a beta of 0.77.

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

In other news, Director Roger Goldman sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total transaction of $53,042.00. Following the completion of the sale, the director now owns 20,072 shares in the company, valued at approximately $483,935.92. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 2.80% of the stock is owned by company insiders.

A number of equities analysts have weighed in on the company. BidaskClub raised Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research downgraded Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research report on Thursday, August 3rd. Finally, FBR & Co reissued a “buy” rating and set a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a research report on Tuesday, September 5th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $25.00.

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About Seacoast Banking Corporation 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.

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

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