Truist Financial Corp Boosts Holdings in Seacoast Banking Corporation of Florida $SBCF

Truist Financial Corp grew its holdings in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,208 shares of the financial services provider’s stock after acquiring an additional 373 shares during the quarter. Truist Financial Corp’s holdings in Seacoast Banking Corporation of Florida were worth $475,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. IFP Advisors Inc raised its holdings in Seacoast Banking Corporation of Florida by 343.9% during the 1st quarter. IFP Advisors Inc now owns 1,283 shares of the financial services provider’s stock valued at $33,000 after buying an additional 994 shares during the last quarter. GAMMA Investing LLC raised its holdings in Seacoast Banking Corporation of Florida by 38.0% during the 1st quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock valued at $43,000 after buying an additional 460 shares during the last quarter. CWM LLC raised its holdings in Seacoast Banking Corporation of Florida by 61.6% during the 1st quarter. CWM LLC now owns 2,635 shares of the financial services provider’s stock valued at $68,000 after buying an additional 1,004 shares during the last quarter. MQS Management LLC bought a new stake in Seacoast Banking Corporation of Florida during the 1st quarter valued at $244,000. Finally, HighTower Advisors LLC raised its holdings in Seacoast Banking Corporation of Florida by 7.0% during the 1st quarter. HighTower Advisors LLC now owns 10,149 shares of the financial services provider’s stock valued at $261,000 after buying an additional 663 shares during the last quarter. 81.77% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Keefe, Bruyette & Woods upped their price target on shares of Seacoast Banking Corporation of Florida from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Wall Street Zen upgraded shares of Seacoast Banking Corporation of Florida from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Zacks Research upgraded shares of Seacoast Banking Corporation of Florida from a “hold” rating to a “strong-buy” rating in a report on Thursday, August 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Seacoast Banking Corporation of Florida in a report on Wednesday, October 8th. Finally, Raymond James Financial set a $33.00 price target on shares of Seacoast Banking Corporation of Florida and gave the company an “outperform” rating in a report on Tuesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, Seacoast Banking Corporation of Florida has an average rating of “Moderate Buy” and a consensus target price of $29.80.

Seacoast Banking Corporation of Florida Stock Performance

Shares of SBCF stock opened at $30.60 on Thursday. Seacoast Banking Corporation of Florida has a 12 month low of $21.36 and a 12 month high of $32.33. The stock has a market cap of $2.69 billion, a PE ratio of 18.77 and a beta of 0.94. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.36. The company’s fifty day moving average price is $30.41 and its 200-day moving average price is $27.41.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last announced its earnings results on Monday, February 14th. The financial services provider reported $0.55 EPS for the quarter. Seacoast Banking Corporation of Florida had a net margin of 16.63% and a return on equity of 6.65%. The firm had revenue of $83.85 million for the quarter. On average, equities analysts expect that Seacoast Banking Corporation of Florida will post 1.71 EPS for the current fiscal year.

Seacoast Banking Corporation of Florida Company Profile

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.