Chatham Capital Group Inc. Acquires 532 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Chatham Capital Group Inc. increased its holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 0.7% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 77,268 shares of the financial services provider’s stock after buying an additional 532 shares during the period. Chatham Capital Group Inc. owned 0.15% of Seacoast Banking Co. of Florida worth $2,036,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SBCF. Capital Investment Advisory Services LLC purchased a new position in Seacoast Banking Co. of Florida in the 4th quarter worth approximately $41,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Seacoast Banking Co. of Florida by 35.7% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,723 shares of the financial services provider’s stock valued at $71,000 after buying an additional 716 shares during the last quarter. Bank of Montreal Can raised its stake in Seacoast Banking Co. of Florida by 16.0% during the 4th quarter. Bank of Montreal Can now owns 3,120 shares of the financial services provider’s stock valued at $81,000 after buying an additional 431 shares during the last quarter. LS Investment Advisors LLC raised its stake in Seacoast Banking Co. of Florida by 153.4% during the 4th quarter. LS Investment Advisors LLC now owns 3,510 shares of the financial services provider’s stock valued at $91,000 after buying an additional 2,125 shares during the last quarter. Finally, Crossmark Global Holdings Inc. purchased a new stake in Seacoast Banking Co. of Florida during the 4th quarter valued at $202,000. Institutional investors own 83.94% of the company’s stock.

SBCF has been the subject of a number of research reports. Hovde Group lowered shares of Seacoast Banking Co. of Florida from a “market perform” rating to an “underperform” rating and decreased their target price for the company from $28.00 to $27.50 in a research note on Monday, March 4th. BidaskClub downgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, February 20th. ValuEngine downgraded shares of Seacoast Banking Co. of Florida from a “hold” rating to a “sell” rating in a research report on Wednesday, May 22nd. Finally, Zacks Investment Research raised shares of Seacoast Banking Co. of Florida from a “hold” rating to a “buy” rating and set a $32.00 target price for the company in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company. Seacoast Banking Co. of Florida currently has an average rating of “Hold” and a consensus target price of $30.63.

In related news, EVP Juliette Kleffel sold 4,433 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $24.13, for a total value of $106,968.29. Following the sale, the executive vice president now directly owns 4,730 shares of the company’s stock, valued at approximately $114,134.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.70% of the company’s stock.

Shares of SBCF traded down $0.29 during midday trading on Friday, hitting $23.96. 128,969 shares of the company traded hands, compared to its average volume of 222,945. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.24 billion, a PE ratio of 14.79 and a beta of 0.90. Seacoast Banking Co. of Florida has a 52 week low of $21.74 and a 52 week high of $34.95.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last announced its earnings results on Thursday, April 25th. The financial services provider reported $0.47 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.47. Seacoast Banking Co. of Florida had a net margin of 23.29% and a return on equity of 10.47%. The firm had revenue of $73.61 million for the quarter, compared to analysts’ expectations of $74.28 million. During the same period in the prior year, the company earned $0.40 EPS. As a group, sell-side analysts expect that Seacoast Banking Co. of Florida will post 1.99 earnings per share for the current year.

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Seacoast Banking Co. of Florida 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 treasury management services, as well as home mortgage products; and brokerage and annuity services.

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

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