Stock of the Day: Seacoast Banking Corporation of Florida Can’t Burn Your Long Portfolio. Just Reaches 52-Week High

Stock of the Day: Seacoast Banking Corporation of Florida Can't Burn Your Long Portfolio. Just Reaches 52 Week High

The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) hit a new 52-week high and has $31.42 target or 68.00% above today’s $18.70 share price. The 8 months bullish chart indicates low risk for the $717.55M company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $31.42 price target is reached, the company will be worth $487.93 million 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. About 58,984 shares traded hands. Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has risen 14.21% since April 19, 2016 and is uptrending. It has outperformed by 10.35% the S&P500.

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

Out of 6 analysts covering Seacoast Banking Co. of Florida (NASDAQ:SBCF), 2 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 33% are positive. Seacoast Banking Co. of Florida has been the topic of 10 analyst reports since August 12, 2015 according to StockzIntelligence Inc. The firm has “Sell” rating by Zacks given on Thursday, August 27. The rating was upgraded by Zacks to “Sell” on Wednesday, August 12. Hovde Group upgraded Seacoast Banking Corporation of Florida (NASDAQ:SBCF) on Wednesday, May 11 to “Outperform” rating. Keefe Bruyette & Woods upgraded Seacoast Banking Corporation of Florida (NASDAQ:SBCF) on Thursday, September 1 to “Outperform” rating. Wood maintained the stock with “Market Perform” rating in Friday, August 28 report. The stock of Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has “Hold” rating given on Wednesday, August 19 by Zacks. SunTrust initiated Seacoast Banking Corporation of Florida (NASDAQ:SBCF) on Monday, April 11 with “Neutral” rating. As per Tuesday, September 6, the company rating was downgraded by Hovde Group. The firm has “Market Perform” rating by FIG Partners given on Monday, November 7. The rating was upgraded by FBR Capital to “Outperform” on Tuesday, March 29.

According to Zacks Investment Research, “Seacoast Banking Corp of Florida is a bank holding company. Seacoast and its subsidiaries offer a full array of deposit accounts and retail banking services, engages in consumer and commercial lending and provides a wide variety of trust and asset management services, as well as securities and annuity products.”

Insitutional Activity: The institutional sentiment decreased to 1.37 in 2016 Q2. Its down 1.26, from 2.63 in 2016Q1. The ratio fall, as 6 funds sold all Seacoast Banking Corporation of Florida shares owned while 18 reduced positions. 17 funds bought stakes while 46 increased positions. They now own 18.72 million shares or 6.37% more from 17.60 million shares in 2016Q1.
Invesco Ltd accumulated 0% or 15,816 shares. Teacher Retirement Systems Of Texas holds 3,596 shares or 0% of its portfolio. Ubs Asset Mngmt Americas accumulated 15,900 shares or 0% of the stock. Mendon Advisors Corp owns 443,447 shares or 0.74% of their US portfolio. Moreover, Creative Planning has 0% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 66 shares. Bnp Paribas Arbitrage holds 0% or 1,158 shares in its portfolio. Private Ltd Liability last reported 1.51% of its portfolio in the stock. State Street last reported 413,712 shares in the company. First Quadrant Limited Partnership Ca last reported 3,160 shares in the company. Art Advsr Limited Liability has 24,330 shares for 0.02% of their US portfolio. American Group has 17,051 shares for 0% of their US portfolio. Allianz Asset Management Ag last reported 0% of its portfolio in the stock. Dimensional Fund Advsr L P owns 869,694 shares or 0.01% of their US portfolio. Moreover, Chatham Cap Group has 0.31% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 61,400 shares. Blackrock, a New York-based fund reported 13,285 shares.

More notable recent Seacoast Banking Corporation of Florida (NASDAQ:SBCF) news were published by: Prnewswire.com which released: “Seacoast Banking Corporation of Florida Completes Acquisition of Floridian …” on March 14, 2016, also Marketwatch.com with their article: “Seacoast Banking started at neutral with $17 stock price target at SunTrust RH” published on November 13, 2010, Prnewswire.com published: “Seacoast Banking Corporation of Florida to Announce Quarterly Earnings Results …” on October 14, 2016. More interesting news about Seacoast Banking Corporation of Florida (NASDAQ:SBCF) were released by: Prnewswire.com and their article: “Seacoast Banking Corporation of Florida to Acquire Floridian Financial Group, Inc.” published on November 03, 2015 as well as Seekingalpha.com‘s news article titled: “Seacoast Banking Corporation of Florida’s (SBCF) CEO Dennis Hudson on Q3 2016 …” with publication date: October 30, 2016.

SBCF Company Profile

Seacoast Banking Corporation of Florida, incorporated on January 24, 1983, is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank, a national banking association (Seacoast National). The Firm and its subsidiaries offer an array of deposit accounts and retail banking services, engage in consumer and commercial lending and provide a range of trust and asset management services, as well as securities and annuity products to its customers. The Company, through its bank subsidiary, provides a range of community banking services to commercial, small business and retail customers, offering a range of transaction and savings deposit products, treasury management services, brokerage, and secured and unsecured loan products, including revolving credit facilities, letters of credit and similar financial guarantees, and asset based financing. Seacoast National also provides trust and investment management services to retirement plans, firms and individuals. It also offers Internet and mobile banking to business and retail customers.

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