Otter Creek Advisors buys $10,312,752 stake in Seacoast Banking Corporation of Florida (SBCF)

Seacoast Banking Corporation of Florida (SBCF) : Otter Creek Advisors scooped up 142,122 additional shares in Seacoast Banking Corporation of Florida during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 642,139 shares of Seacoast Banking Corporation of Florida which is valued at $10,312,752.Seacoast Banking Corporation of Florida makes up approximately 4.05% of Otter Creek Advisors’s portfolio.

Other Hedge Funds, Including , Millennium Management reduced its stake in SBCF by selling 106,456 shares or 71.87% in the most recent quarter. The Hedge Fund company now holds 41,662 shares of SBCF which is valued at $669,092.Tower Research Capital (trc) boosted its stake in SBCF in the latest quarter, The investment management firm added 1,483 additional shares and now holds a total of 2,109 shares of Seacoast Banking Corporation of Florida which is valued at $33,871. Mark Sheptoff Financial Planning sold out all of its stake in SBCF during the most recent quarter. The investment firm sold 19,760 shares of SBCF which is valued $317,543.Commonwealth Equity Services Inc boosted its stake in SBCF in the latest quarter, The investment management firm added 1,200 additional shares and now holds a total of 11,646 shares of Seacoast Banking Corporation of Florida which is valued at $189,597.

Seacoast Banking Corporation of Florida opened for trading at $16.85 and hit $17.52 on the upside on Thursday, eventually ending the session at $17.21, with a gain of 4.62% or 0.76 points. The heightened volatility saw the trading volume jump to 6,17,216 shares. Company has a market cap of $654 M.

On the company’s financial health, Seacoast Banking Corporation of Florida reported $0.23 EPS for the quarter, based on the information available during the earnings call on Jul 27, 2016. Analyst had a consensus estimate of $0.23.Analysts expectations of $ 43.10.During the same quarter in the previous year, the company posted $0.35 EPS.

Many Wall Street Analysts have commented on Seacoast Banking Corporation of Florida. Seacoast Banking Corporation of Florida was Downgraded by Hovde Group to ” Market Perform” on Sep 6, 2016. Seacoast Banking Corporation of Florida was Upgraded by Keefe Bruyette to ” Outperform” on Sep 1, 2016.

Seacoast Banking Corporation of Florida is a bank holding company. The Company’s principal subsidiary is Seacoast National Bank a national banking association (Seacoast National). The Company 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. Its indirect wholly owned subsidiaries include FNB Insurance Services Inc. South Branch Building Inc. TCoast Holdings LLC and BR West LLC. It also offers Internet and mobile banking to business and retail customers. It allows customers to access transactional information on their deposit accounts review loan and deposit balances transfer funds between linked accounts and make deposits to and loan payments from a deposit account. It has total deposits of approximately $2.8 billion.

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