Seacoast Banking Co. of Florida (SBCF) Position Lowered by BNP Paribas Arbitrage SA

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BNP Paribas Arbitrage SA reduced its stake in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 94.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,293 shares of the financial services provider’s stock after selling 56,343 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Seacoast Banking Co. of Florida were worth $104,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Wealth Management LLC bought a new stake in Seacoast Banking Co. of Florida during the second quarter worth $212,000. Amalgamated Bank purchased a new position in Seacoast Banking Co. of Florida in the second quarter worth $216,000. Allianz Asset Management GmbH boosted its position in Seacoast Banking Co. of Florida by 7.3% in the first quarter. Allianz Asset Management GmbH now owns 652,136 shares of the financial services provider’s stock worth $17,262,000 after purchasing an additional 44,370 shares during the last quarter. Principal Financial Group Inc. purchased a new position in Seacoast Banking Co. of Florida in the first quarter worth $9,519,000. Finally, WINTON GROUP Ltd purchased a new position in Seacoast Banking Co. of Florida in the first quarter worth $467,000. 84.22% of the stock is currently owned by institutional investors.

SBCF stock opened at $31.47 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.83 and a current ratio of 0.84. Seacoast Banking Co. of Florida has a 1-year low of $20.58 and a 1-year high of $34.95. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of 24.59 and a beta of 0.62.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by ($0.05). Seacoast Banking Co. of Florida had a return on equity of 10.36% and a net margin of 22.34%. The business had revenue of $62.98 million during the quarter, compared to analysts’ expectations of $64.78 million. During the same period in the prior year, the firm posted $0.29 EPS. The firm’s revenue for the quarter was up 15.3% on a year-over-year basis. research analysts predict that Seacoast Banking Co. of Florida will post 1.63 earnings per share for the current year.

SBCF has been the topic of several research analyst reports. Zacks Investment Research raised Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Friday, July 13th. Sandler O’Neill set a $31.00 price objective on Seacoast Banking Co. of Florida and gave the stock a “hold” rating in a research report on Saturday, July 28th. BidaskClub raised Seacoast Banking Co. of Florida from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 11th. B. Riley cut their price objective on Seacoast Banking Co. of Florida from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Tuesday, July 31st. Finally, ValuEngine cut Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $32.17.

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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