National Investment Services Inc. WI purchased a new position in Seacoast Banking Corp. of Florida (NASDAQ:SBCF) during the second quarter, Holdings Channel reports. The institutional investor purchased 16,606 shares of the financial services provider’s stock, valued at approximately $270,000.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new stake in shares of Seacoast Banking Corp. of Florida during the first quarter worth $159,000. Rehmann Capital Advisory Group bought a new position in Seacoast Banking Corp. of Florida during the first quarter worth about $241,000. Virginia Retirement System bought a new position in Seacoast Banking Corp. of Florida during the first quarter worth about $437,000. Harvest Capital Strategies LLC boosted its position in Seacoast Banking Corp. of Florida by 135.2% in the first quarter. Harvest Capital Strategies LLC now owns 53,213 shares of the financial services provider’s stock worth $840,000 after buying an additional 30,592 shares in the last quarter. Finally, Panagora Asset Management Inc. boosted its position in Seacoast Banking Corp. of Florida by 20.7% in the first quarter. Panagora Asset Management Inc. now owns 98,251 shares of the financial services provider’s stock worth $1,551,000 after buying an additional 16,870 shares in the last quarter. 51.37% of the stock is owned by institutional investors.

Shares of Seacoast Banking Corp. of Florida (NASDAQ:SBCF) traded down 0.67% during trading on Monday, reaching $16.24. 74,500 shares of the company’s stock traded hands. Seacoast Banking Corp. of Florida has a 52-week low of $13.40 and a 52-week high of $17.80. The company’s 50-day moving average is $16.43 and its 200 day moving average is $16.23. The company has a market cap of $608.51 million, a price-to-earnings ratio of 29.05 and a beta of 0.81.

Seacoast Banking Corp. of Florida (NASDAQ:SBCF) last posted its quarterly earnings results on Wednesday, July 27th. The financial services provider reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Seacoast Banking Corp. of Florida had a net margin of 11.53% and a return on equity of 7.61%. During the same quarter in the prior year, the firm earned $0.18 EPS. Equities analysts forecast that Seacoast Banking Corp. of Florida will post $0.98 EPS for the current year.

A number of equities analysts recently issued reports on SBCF shares. Zacks Investment Research upgraded shares of Seacoast Banking Corp. of Florida from a “hold” rating to a “buy” rating and set a $18.00 price objective for the company in a research report on Friday, August 5th. Hovde Group cut shares of Seacoast Banking Corp. of Florida from an “outperform” rating to a “market perform” rating in a research report on Tuesday, September 6th. Keefe, Bruyette & Woods upgraded shares of Seacoast Banking Corp. of Florida from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $18.00 to $20.00 in a research report on Thursday, September 1st. Finally, FBR & Co reiterated a “buy” rating and set a $20.00 price objective on shares of Seacoast Banking Corp. of Florida in a research report on Friday, July 29th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $18.65.

About Seacoast Banking Corp. 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 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.

5 Day Chart for NASDAQ:SBCF

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