American Research & Management Co. Purchases 4,836 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

American Research & Management Co. increased its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 6.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,801 shares of the financial services provider’s stock after purchasing an additional 4,836 shares during the quarter. American Research & Management Co. owned approximately 0.15% of Seacoast Banking Co. of Florida worth $3,037,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its stake in Seacoast Banking Co. of Florida by 49.0% in the fourth quarter. First Horizon Advisors Inc. now owns 936 shares of the financial services provider’s stock valued at $27,000 after acquiring an additional 308 shares during the last quarter. Graves Light Private Wealth Management Inc. bought a new position in Seacoast Banking Co. of Florida during the fourth quarter worth about $29,000. Assetmark Inc. grew its position in shares of Seacoast Banking Co. of Florida by 40.7% during the 4th quarter. Assetmark Inc. now owns 2,075 shares of the financial services provider’s stock worth $61,000 after buying an additional 600 shares during the period. Veriti Management LLC acquired a new position in shares of Seacoast Banking Co. of Florida during the 4th quarter worth about $64,000. Finally, RWM Asset Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 4th quarter valued at about $153,000. 79.40% of the stock is owned by hedge funds and other institutional investors.

A number of research analysts recently issued reports on SBCF shares. Raymond James boosted their price objective on shares of Seacoast Banking Co. of Florida from $33.00 to $39.00 and gave the company an “outperform” rating in a report on Wednesday, March 31st. Zacks Investment Research lowered Seacoast Banking Co. of Florida from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, B. Riley raised their target price on shares of Seacoast Banking Co. of Florida from $33.00 to $37.00 and gave the stock a “buy” rating in a report on Friday, February 19th.

SBCF stock traded down $0.44 during trading hours on Thursday, reaching $35.50. 1,318 shares of the stock were exchanged, compared to its average volume of 263,288. The firm’s 50-day moving average is $37.10 and its 200-day moving average is $28.99. Seacoast Banking Co. of Florida has a 12 month low of $16.10 and a 12 month high of $40.93. The company has a market cap of $1.96 billion, a price-to-earnings ratio of 25.09 and a beta of 1.34. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.88 and a quick ratio of 0.87.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its quarterly earnings data on Wednesday, January 27th. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.48 by $0.05. Seacoast Banking Co. of Florida had a return on equity of 8.29% and a net margin of 21.62%. The company had revenue of $83.72 million during the quarter, compared to analysts’ expectations of $83.14 million. As a group, equities research analysts forecast that Seacoast Banking Co. of Florida will post 1.57 earnings per share for the current year.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides financial services to retail and commercial customers in Florida. The company offers commercial and retail banking, wealth management, and mortgage services; and brokerage and annuity services.

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