RMB Capital Management LLC Has $10.61 Million Stake in Seacoast Banking Corporation of Florida (SBCF)

RMB Capital Management LLC increased its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 126.0% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 442,548 shares of the financial services provider’s stock after buying an additional 246,700 shares during the period. RMB Capital Management LLC owned about 1.14% of Seacoast Banking Corporation of Florida worth $10,612,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in SBCF. State Street Corp raised its position in Seacoast Banking Corporation of Florida by 9.4% in the fourth quarter. State Street Corp now owns 487,330 shares of the financial services provider’s stock valued at $10,751,000 after buying an additional 41,842 shares in the last quarter. Renaissance Technologies LLC raised its position in Seacoast Banking Corporation of Florida by 37.2% in the fourth quarter. Renaissance Technologies LLC now owns 696,000 shares of the financial services provider’s stock valued at $15,354,000 after buying an additional 188,800 shares in the last quarter. Federated Investors Inc. PA raised its position in Seacoast Banking Corporation of Florida by 6,961.3% in the fourth quarter. Federated Investors Inc. PA now owns 9,674 shares of the financial services provider’s stock valued at $213,000 after buying an additional 9,537 shares in the last quarter. GSA Capital Partners LLP bought a new position in Seacoast Banking Corporation of Florida during the fourth quarter valued at about $343,000. Finally, Dimensional Fund Advisors LP raised its position in Seacoast Banking Corporation of Florida by 10.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,117,837 shares of the financial services provider’s stock valued at $24,660,000 after buying an additional 109,621 shares in the last quarter. Institutional investors and hedge funds own 71.55% of the company’s stock.

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

Seacoast Banking Corporation of Florida (SBCF) traded up 0.16% during midday trading on Monday, hitting $24.59. The company’s stock had a trading volume of 144,870 shares. The company has a market cap of $955.05 million, a price-to-earnings ratio of 28.49 and a beta of 0.75. The company’s 50-day moving average is $23.63 and its 200 day moving average is $23.03. Seacoast Banking Corporation of Florida has a one year low of $15.21 and a one year high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last released its earnings results on Tuesday, April 25th. The financial services provider reported $0.26 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.01. Seacoast Banking Corporation of Florida had a return on equity of 9.11% and a net margin of 16.95%. The company had revenue of $48.10 million for the quarter, compared to analyst estimates of $47.55 million. During the same period in the previous year, the firm earned $0.19 earnings per share. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. On average, analysts predict that Seacoast Banking Corporation of Florida will post $1.24 EPS for the current year.

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Several equities analysts have recently issued reports on the company. Zacks Investment Research raised Seacoast Banking Corporation of Florida from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research report on Wednesday, April 26th. Guggenheim initiated coverage on Seacoast Banking Corporation of Florida in a report on Wednesday, March 15th. They issued a “neutral” rating and a $25.00 price objective for the company. Finally, FIG Partners upgraded Seacoast Banking Corporation of Florida from a “market-perform” rating to an “outperform” rating in a report on Friday, May 19th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $23.00.

In related news, Director Roger Goldman sold 3,000 shares of the business’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $22.55, for a total transaction of $67,650.00. Following the completion of the transaction, the director now directly owns 20,072 shares of the company’s stock, valued at approximately $452,623.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.80% of the company’s stock.

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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