What’s Propelling Seacoast Banking Corporation of Florida (SBCF) to Increase So Much?

February 15, 2018 - By Vivian Park

Investors sentiment decreased to 1.6 in Q3 2017. Its down 0.57, from 2.17 in 2017Q2. It fall, as 13 investors sold Seacoast Banking Corporation of Florida shares while 29 reduced holdings. 22 funds opened positions while 45 raised stakes. 33.14 million shares or 2.65% more from 32.28 million shares in 2017Q2 were reported.
Moreover, Lord Abbett And Limited Liability has 0.07% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 991,187 shares. Meeder Asset Inc owns 292 shares. Palisades Hudson Asset Mgmt Ltd Partnership has invested 0.14% in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Secor Advsrs Lp owns 15,534 shares or 0.04% of their US portfolio. Millennium Mgmt Limited Com has invested 0.04% in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Janney Montgomery Scott Limited Liability Corp stated it has 0% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Fifth Third Comml Bank holds 0% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 3,000 shares. Invesco invested 0% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Commercial Bank Of America De holds 0% or 399,202 shares. Wells Fargo Mn reported 53,151 shares. Congress Asset Mngmt Co Ma stated it has 72,326 shares. Neuberger Berman Group Limited Liability Corp stated it has 0% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Stieven Cap Limited Partnership holds 248,600 shares. 1492 Capital Management Limited Liability stated it has 2.49% in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Chatham Cap holds 74,776 shares or 0.51% of its portfolio.

The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) is a huge mover today! The stock increased 7.11% or $1.8 during the last trading session, reaching $27.1. About 1.29M shares traded or 466.17% up from the average. Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has risen 38.63% since February 15, 2017 and is uptrending. It has outperformed by 21.93% the S&P500.
The move comes after 5 months positive chart setup for the $1.27B company. It was reported on Feb, 15 by Barchart.com. We have $29.54 PT which if reached, will make NASDAQ:SBCF worth $114.48 million more.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Ratings Coverage

Among 9 analysts covering Seacoast Banking Co. of Florida (NASDAQ:SBCF), 6 have Buy rating, 0 Sell and 3 Hold. Therefore 67% are positive. Seacoast Banking Co. of Florida had 23 analyst reports since August 12, 2015 according to SRatingsIntel. Hovde Group upgraded the shares of SBCF in report on Wednesday, February 7 to “Outperform” rating. On Wednesday, August 12 the stock rating was upgraded by Zacks to “Sell”. The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) earned “Hold” rating by Guggenheim on Tuesday, January 30. The rating was upgraded by Hovde Group to “Outperform” on Wednesday, May 11. On Monday, November 7 the stock rating was downgraded by FIG Partners to “Market Perform”. FBR Capital upgraded the stock to “Outperform” rating in Tuesday, March 29 report. The company was maintained on Friday, January 26 by FBR Capital. The rating was upgraded by Keefe Bruyette & Woods to “Outperform” on Thursday, September 1. The company was initiated on Wednesday, November 30 by Raymond James. SunTrust initiated Seacoast Banking Corporation of Florida (NASDAQ:SBCF) rating on Monday, April 11. SunTrust has “Neutral” rating and $17 target.

More notable recent Seacoast Banking Corporation of Florida (NASDAQ:SBCF) news were published by: Prnewswire.com which released: “Seacoast Completes Acquisition Of Palm Beach Community Bank” on November 03, 2017, also Prnewswire.com with their article: “Seacoast Banking Corporation Of Florida To Announce Second Quarter 2017 …” published on May 25, 2017, Seekingalpha.com published: “Seacoast Banking Corporation of Florida’s (SBCF) CEO Dennis Hudson on Q4 2017 …” on January 26, 2018. More interesting news about Seacoast Banking Corporation of Florida (NASDAQ:SBCF) were released by: Seekingalpha.com and their article: “Seacoast Banking Corporation of Florida’s (SBCF) CEO Dennis Hudson on Q3 2017 …” published on October 27, 2017 as well as Nasdaq.com‘s news article titled: “Seacoast Banking Corporation of Florida to Announce Quarterly and Year-End …” with publication date: January 02, 2018.

Seacoast Banking Corporation of Florida operates as the bank holding firm for Seacoast National Bank that provides community banking services to the commercial, small business, and retail clients in Florida. The company has market cap of $1.27 billion. It offers various transaction and savings deposit products; secured and unsecured loan products, including revolving credit facilities, letters of credit and related financial guarantees, and asset based financing; and securities and annuity products. It has a 27.37 P/E ratio. The firm also provides trust and asset management services to retirement plans, firms, and individuals; treasury management services; brokerage services; and Internet and mobile banking services.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with our FREE daily email newsletter.