William Blair Investment Management LLC Sells 104,313 Shares of Seacoast Banking Corporation of Florida $SBCF

William Blair Investment Management LLC reduced its stake in shares of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) by 7.4% in the second quarter, Holdings Channel reports. The fund owned 1,296,936 shares of the financial services provider’s stock after selling 104,313 shares during the quarter. William Blair Investment Management LLC’s holdings in Seacoast Banking Corporation of Florida were worth $35,821,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. CWM LLC grew its position in shares of Seacoast Banking Corporation of Florida by 170.2% during the 2nd quarter. CWM LLC now owns 7,121 shares of the financial services provider’s stock valued at $197,000 after acquiring an additional 4,486 shares during the period. Moseley Investment Management Inc. bought a new position in shares of Seacoast Banking Corporation of Florida during the 2nd quarter valued at approximately $335,000. KLP Kapitalforvaltning AS grew its position in shares of Seacoast Banking Corporation of Florida by 12.9% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,400 shares of the financial services provider’s stock valued at $508,000 after acquiring an additional 2,100 shares during the period. ZWJ Investment Counsel Inc. bought a new position in shares of Seacoast Banking Corporation of Florida during the 2nd quarter valued at approximately $242,000. Finally, Truist Financial Corp grew its position in shares of Seacoast Banking Corporation of Florida by 2.2% during the 2nd quarter. Truist Financial Corp now owns 17,208 shares of the financial services provider’s stock valued at $475,000 after acquiring an additional 373 shares during the period. 81.77% of the stock is owned by institutional investors.

Seacoast Banking Corporation of Florida Stock Performance

NASDAQ SBCF opened at $29.24 on Friday. Seacoast Banking Corporation of Florida has a 1 year low of $21.36 and a 1 year high of $32.33. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.85 and a quick ratio of 0.85. The stock has a market capitalization of $2.57 billion, a PE ratio of 17.94 and a beta of 0.94. The company’s 50 day simple moving average is $30.47 and its two-hundred day simple moving average is $27.47.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) last posted its earnings results on Monday, February 14th. The financial services provider reported $0.55 earnings per share (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 business had revenue of $83.85 million for the quarter. Analysts predict that Seacoast Banking Corporation of Florida will post 1.71 earnings per share for the current fiscal year.

Analyst Ratings Changes

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

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.