Beaton Management Co. Inc. purchased a new stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 19,200 shares of the financial services provider’s stock, valued at approximately $463,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. US Bancorp DE increased its stake in Seacoast Banking Corporation of Florida by 0.5% during the second quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock valued at $100,000 after acquiring an additional 20 shares during the period. Alpine Woods Capital Investors LLC increased its stake in Seacoast Banking Corporation of Florida by 7.7% during the second quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the financial services provider’s stock valued at $337,000 after acquiring an additional 1,000 shares during the period. Teachers Advisors LLC increased its stake in Seacoast Banking Corporation of Florida by 1.3% during the second quarter. Teachers Advisors LLC now owns 85,014 shares of the financial services provider’s stock valued at $2,049,000 after acquiring an additional 1,079 shares during the period. American International Group Inc. increased its stake in Seacoast Banking Corporation of Florida by 7.2% during the first quarter. American International Group Inc. now owns 18,252 shares of the financial services provider’s stock valued at $438,000 after acquiring an additional 1,220 shares during the period. Finally, Wells Fargo & Company MN increased its stake in Seacoast Banking Corporation of Florida by 5.1% during the first quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock valued at $677,000 after acquiring an additional 1,374 shares during the period. Hedge funds and other institutional investors own 77.46% of the company’s stock.

Several equities analysts recently issued reports on the company. FBR & Co restated a “buy” rating and set a $27.00 price target on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday, September 5th. BidaskClub lowered Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Finally, Zacks Investment Research lowered Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $24.67.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) traded down 1.19% during midday trading on Friday, hitting $23.98. The stock had a trading volume of 127,945 shares. The company’s 50 day moving average is $23.04 and its 200 day moving average is $23.55. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 26.67 and a beta of 0.76. Seacoast Banking Corporation of Florida has a 1-year low of $16.29 and a 1-year high of $25.88.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, July 27th. The financial services provider reported $0.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. Seacoast Banking Corporation of Florida had a net margin of 17.09% and a return on equity of 9.20%. The company had revenue of $54.60 million for the quarter, compared to analysts’ expectations of $53.90 million. During the same period last year, the firm earned $0.24 earnings per share. The business’s revenue for the quarter was up 25.2% on a year-over-year basis. On average, equities analysts anticipate that Seacoast Banking Corporation of Florida will post $1.23 earnings per share for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Beaton Management Co. Inc. Purchases Shares of 19,200 Seacoast Banking Corporation of Florida (SBCF)” was originally reported by Watch List News and is the sole property of of Watch List News. If you are reading this article on another site, it was illegally copied and republished in violation of US and international copyright and trademark law. The correct version of this article can be viewed at https://www.watchlistnews.com/beaton-management-co-inc-purchases-shares-of-19200-seacoast-banking-corporation-of-florida-sbcf/1630910.html.

In other news, Director Roger Goldman sold 2,200 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total transaction of $53,042.00. Following the transaction, the director now directly owns 20,072 shares of the company’s stock, valued at $483,935.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.80% of the stock is currently owned by company insiders.

About Seacoast Banking Corporation 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 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.

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

Receive News & Ratings for Seacoast Banking Corporation of Florida Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seacoast Banking Corporation of Florida and related companies with Analyst Ratings Network's FREE daily email newsletter.