Royce & Associates LP Increases Stake in Seacoast Banking Co. of Florida (SBCF)

Royce & Associates LP grew its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 7.0% in the third quarter, according to its most recent filing with the SEC. The fund owned 300,000 shares of the financial services provider’s stock after acquiring an additional 19,500 shares during the period. Royce & Associates LP owned 0.63% of Seacoast Banking Co. of Florida worth $8,760,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Bridgeway Capital Management Inc. bought a new position in shares of Seacoast Banking Co. of Florida in the 3rd quarter valued at $841,000. Dimensional Fund Advisors LP lifted its stake in shares of Seacoast Banking Co. of Florida by 13.2% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,711,815 shares of the financial services provider’s stock valued at $49,984,000 after acquiring an additional 199,244 shares during the last quarter. Credit Suisse AG lifted its stake in shares of Seacoast Banking Co. of Florida by 3.3% in the 3rd quarter. Credit Suisse AG now owns 69,355 shares of the financial services provider’s stock valued at $2,026,000 after acquiring an additional 2,247 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. BlackRock Inc. now owns 6,643,594 shares of the financial services provider’s stock valued at $193,992,000 after acquiring an additional 43,211 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Seacoast Banking Co. of Florida by 0.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,092,941 shares of the financial services provider’s stock valued at $31,914,000 after acquiring an additional 8,381 shares during the last quarter. Institutional investors own 85.34% of the company’s stock.

Shares of NASDAQ:SBCF opened at $27.45 on Friday. The firm has a market cap of $1.30 billion, a P/E ratio of 18.09 and a beta of 0.68. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.86 and a quick ratio of 0.86. Seacoast Banking Co. of Florida has a 12-month low of $21.74 and a 12-month high of $34.95.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, October 25th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.07). The company had revenue of $63.85 million for the quarter, compared to the consensus estimate of $65.27 million. Seacoast Banking Co. of Florida had a return on equity of 10.20% and a net margin of 22.30%. Analysts expect that Seacoast Banking Co. of Florida will post 1.55 earnings per share for the current fiscal year.

A number of brokerages have recently commented on SBCF. Zacks Investment Research upgraded Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research note on Thursday. BidaskClub raised Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Raymond James raised Seacoast Banking Co. of Florida from a “market perform” rating to an “outperform” rating in a research report on Thursday, November 15th. B. Riley set a $32.00 target price on Seacoast Banking Co. of Florida and gave the stock a “buy” rating in a research report on Monday, October 29th. Finally, ValuEngine lowered Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Monday, September 24th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Seacoast Banking Co. of Florida presently has a consensus rating of “Hold” and a consensus price target of $32.60.

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Seacoast Banking Co. of Florida Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to business and retail customers in Florida. It offers commercial and retail banking, wealth management, and mortgage services; automated teller machines; online and mobile banking services; and brokerage and annuity services.

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

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