Seacoast Banking Corporation of Florida (SBCF) Stake Raised by King Luther Capital Management Corp

King Luther Capital Management Corp lifted its position in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 56.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,470 shares of the financial services provider’s stock after acquiring an additional 46,655 shares during the quarter. King Luther Capital Management Corp owned 0.30% of Seacoast Banking Corporation of Florida worth $3,120,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. US Bancorp DE boosted its stake in shares of Seacoast Banking Corporation of Florida by 0.5% during the 2nd quarter. US Bancorp DE now owns 4,157 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 20 shares in the last quarter. Alpine Woods Capital Investors LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 7.7% during the 2nd quarter. Alpine Woods Capital Investors LLC now owns 14,000 shares of the financial services provider’s stock worth $337,000 after acquiring an additional 1,000 shares in the last quarter. Teachers Advisors LLC boosted its stake in shares of Seacoast Banking Corporation of Florida by 1.3% during the 2nd quarter. Teachers Advisors LLC now owns 85,014 shares of the financial services provider’s stock worth $2,049,000 after acquiring an additional 1,079 shares in the last quarter. American International Group Inc. boosted its stake in shares of Seacoast Banking Corporation of Florida by 7.2% during the 1st quarter. American International Group Inc. now owns 18,252 shares of the financial services provider’s stock worth $438,000 after acquiring an additional 1,220 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its stake in shares of Seacoast Banking Corporation of Florida by 5.1% during the 1st quarter. Wells Fargo & Company MN now owns 28,202 shares of the financial services provider’s stock worth $677,000 after acquiring an additional 1,374 shares in the last quarter. 77.50% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have recently issued reports on SBCF. BidaskClub lowered shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “sell” rating in a research note on Wednesday, June 28th. Zacks Investment Research lowered shares of Seacoast Banking Corporation of Florida from a “buy” rating to a “hold” rating in a research note on Thursday, August 3rd. Finally, FBR & Co reissued a “buy” rating and set a $27.00 target price on shares of Seacoast Banking Corporation of Florida in a research note on Tuesday, September 5th. 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 company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $25.00.

TRADEMARK VIOLATION WARNING: “Seacoast Banking Corporation of Florida (SBCF) Stake Raised by King Luther Capital Management Corp” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are viewing this report on another site, it was illegally copied and republished in violation of US and international copyright and trademark legislation. The correct version of this report can be viewed at https://ledgergazette.com/2017/09/17/seacoast-banking-corporation-of-florida-sbcf-stake-raised-by-king-luther-capital-management-corp.html.

In other Seacoast Banking Corporation of Florida news, Director Roger Goldman sold 2,200 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $24.11, for a total value of $53,042.00. Following the sale, the director now 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 owned by corporate insiders.

Seacoast Banking Corporation of Florida (NASDAQ SBCF) opened at 21.69 on Friday. Seacoast Banking Corporation of Florida has a 52 week low of $15.85 and a 52 week high of $25.88. The stock has a market capitalization of $929.22 million, a price-to-earnings ratio of 24.13 and a beta of 0.77. The company has a 50-day moving average of $22.73 and a 200-day moving average of $23.51.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last issued its earnings results on Thursday, July 27th. The financial services provider reported $0.29 earnings per share for the quarter, hitting the 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 analyst estimates of $53.90 million. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up 25.2% compared to the same quarter last year. Analysts anticipate that Seacoast Banking Corporation of Florida will post $1.23 earnings per share for the current year.

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.

Want to see what other hedge funds are holding SBCF? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seacoast Banking Corporation of Florida (NASDAQ:SBCF).

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 MarketBeat.com's FREE daily email newsletter.

Leave a Reply