Does Seacoast Banking Corporation of Florida (SBCF) Have More Gas After Reaching 52-Week High?

May 17, 2018 - By Harriett Tippett

Investors sentiment decreased to 1.48 in 2017 Q4. Its down 0.12, from 1.6 in 2017Q3. It dived, as 8 investors sold Seacoast Banking Corporation of Florida shares while 38 reduced holdings. 26 funds opened positions while 42 raised stakes. 34.32 million shares or 3.56% more from 33.14 million shares in 2017Q3 were reported.
Alpine Woods Cap Invsts Ltd Llc owns 14,000 shares or 0.02% of their US portfolio. Driehaus Cap Ltd has invested 0.25% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). 1492 Mngmt Limited Liability Co owns 126,945 shares. Geode Limited Liability Company owns 394,269 shares for 0% of their portfolio. Parametric Portfolio Associate Ltd Liability Co stated it has 0% in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Maltese Capital Mngmt Ltd, a New York-based fund reported 440,040 shares. 24,137 were reported by Los Angeles Cap Mngmt And Equity Research. Moreover, Ny State Common Retirement Fund has 0% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 45,300 shares. Banc Funds Com Ltd accumulated 877,669 shares. Federated Invsts Inc Pa accumulated 26,268 shares or 0% of the stock. Vanguard Gru invested in 1.91M shares or 0% of the stock. Renaissance Technologies owns 0.01% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 245,200 shares. Credit Suisse Ag holds 0% or 81,835 shares in its portfolio. Alliancebernstein Lp reported 0% in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Td Asset Management Inc has 0% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 65,607 shares.

Since March 7, 2018, it had 0 buys, and 3 sales for $415,996 activity. 1,571 shares were sold by Shaffer Charles M, worth $43,250.

The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) hit a new 52-week high and has $32.61 target or 7.00 % above today’s $30.48 share price. The 6 months bullish chart indicates low risk for the $1.43 billion company. The 1-year high was reported on May, 17 by Barchart.com. If the $32.61 price target is reached, the company will be worth $100.24M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock.

The stock increased 1.03% or $0.31 during the last trading session, reaching $30.48. About 309,753 shares traded. Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has risen 12.55% since May 17, 2017 and is uptrending. It has outperformed by 1.00% the S&P500.

Analysts await Seacoast Banking Corporation of Florida (NASDAQ:SBCF) to report earnings on July, 26. They expect $0.43 EPS, up 48.28 % or $0.14 from last year’s $0.29 per share. SBCF’s profit will be $20.20 million for 17.72 P/E if the $0.43 EPS becomes a reality. After $0.40 actual EPS reported by Seacoast Banking Corporation of Florida for the previous quarter, Wall Street now forecasts 7.50 % EPS growth.

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

Among 5 analysts covering Seacoast Banking Corporation Of Florida (NASDAQ:SBCF), 4 have Buy rating, 0 Sell and 1 Hold. Therefore 80% are positive. Seacoast Banking Corporation Of Florida had 9 analyst reports since November 28, 2017 according to SRatingsIntel. The stock has “Outperform” rating by Hovde Group on Wednesday, February 7. The rating was maintained by Guggenheim with “Hold” on Tuesday, January 30. The firm has “Hold” rating given on Friday, January 12 by Hovde Group. The firm has “Hold” rating by Hovde Group given on Wednesday, January 3. The firm has “Hold” rating given on Thursday, January 4 by Sandler O’Neill. SunTrust maintained the shares of SBCF in report on Monday, January 8 with “Buy” rating. SunTrust maintained the shares of SBCF in report on Tuesday, November 28 with “Buy” rating. On Friday, January 26 the stock rating was maintained by FBR Capital with “Buy”. Sandler O’Neill upgraded the shares of SBCF in report on Thursday, January 11 to “Buy” rating.

More recent Seacoast Banking Corporation of Florida (NASDAQ:SBCF) news were published by: Globenewswire.com which released: “Report: Exploring Fundamental Drivers Behind Preformed Line Products, Seacoast Banking Corporation of Florida …” on May 04, 2018. Also Seekingalpha.com published the news titled: “Seacoast Banking Corporation of Florida’s (SBCF) CEO Dennis Hudson on Q1 2018 Results – Earnings Call Transcript” on April 27, 2018. Globenewswire.com‘s news article titled: “Seacoast Reports First Quarter 2018 Results” with publication date: April 26, 2018 was also an interesting one.

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 $1.43 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 30.79 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.

Seacoast Banking Corporation of Florida (NASDAQ:SBCF) Institutional Positions Chart

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