BlackRock Institutional Trust Company N.A. raised its position in Seacoast Banking Corp. of Florida (NASDAQ:SBCF) by 3.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,719,462 shares of the financial services provider’s stock after buying an additional 55,537 shares during the period. BlackRock Institutional Trust Company N.A. owned 5.04% of Seacoast Banking Corp. of Florida worth $27,150,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Dimensional Fund Advisors LP increased its position in shares of Seacoast Banking Corp. of Florida by 17.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 654,800 shares of the financial services provider’s stock valued at $9,809,000 after buying an additional 98,853 shares in the last quarter. 1492 Capital Management LLC increased its position in shares of Seacoast Banking Corp. of Florida by 312.8% in the fourth quarter. 1492 Capital Management LLC now owns 140,242 shares of the financial services provider’s stock valued at $2,101,000 after buying an additional 106,266 shares in the last quarter. Victory Capital Management Inc. increased its position in shares of Seacoast Banking Corp. of Florida by 15.9% in the fourth quarter. Victory Capital Management Inc. now owns 73,742 shares of the financial services provider’s stock valued at $1,105,000 after buying an additional 10,115 shares in the last quarter. BlackRock Group LTD increased its position in shares of Seacoast Banking Corp. of Florida by 16.7% in the first quarter. BlackRock Group LTD now owns 28,007 shares of the financial services provider’s stock valued at $442,000 after buying an additional 4,011 shares in the last quarter. Finally, Virginia Retirement System purchased a new position in shares of Seacoast Banking Corp. of Florida during the first quarter valued at $437,000.
Seacoast Banking Corp. of Florida (NASDAQ:SBCF) traded down 0.12% during trading on Tuesday, hitting $16.57. 95,653 shares of the stock traded hands. Seacoast Banking Corp. of Florida has a 52-week low of $13.40 and a 52-week high of $17.19. The stock has a market cap of $577.43 million and a P/E ratio of 28.13. The stock has a 50 day moving average price of $16.32 and a 200-day moving average price of $15.70.
SBCF has been the topic of several analyst reports. SunTrust Banks Inc. initiated coverage on shares of Seacoast Banking Corp. of Florida in a report on Monday, April 11th. They set a “neutral” rating and a $17.00 price target on the stock. FBR & Co raised shares of Seacoast Banking Corp. of Florida from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $20.00 in a report on Tuesday, March 29th. Hovde Group raised shares of Seacoast Banking Corp. of Florida from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $16.00 to $18.25 in a report on Wednesday, May 11th. Finally, Zacks Investment Research downgraded shares of Seacoast Banking Corp. of Florida from a “buy” rating to a “hold” rating in a report on Wednesday, April 6th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $17.85.
In related news, Director Maryann Goebel acquired 5,850 shares of Seacoast Banking Corp. of Florida stock in a transaction dated Wednesday, May 25th. The shares were acquired at an average cost of $16.82 per share, for a total transaction of $98,397.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
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.
