Otter Creek Advisors buys $14,187,093 stake in Seacoast Banking Corporation of Florida (SBCF)

Seacoast Banking Corporation of Florida (SBCF) : Otter Creek Advisors scooped up 133,112 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 Nov 14, 2016. The investment management firm now holds a total of 775,251 shares of Seacoast Banking Corporation of Florida which is valued at $14,187,093.Seacoast Banking Corporation of Florida makes up approximately 5.29% of Otter Creek Advisors’s portfolio.

Other Hedge Funds, Including , Paloma Partners Management Co boosted its stake in SBCF in the latest quarter, The investment management firm added 29,195 additional shares and now holds a total of 70,264 shares of Seacoast Banking Corporation of Florida which is valued at $1,301,992. Seacoast Banking Corporation of Florida makes up approx 0.05% of Paloma Partners Management Co’s portfolio.Dimensional Fund Advisors Lp boosted its stake in SBCF in the latest quarter, The investment management firm added 138,522 additional shares and now holds a total of 1,008,216 shares of Seacoast Banking Corporation of Florida which is valued at $17,875,670. Seacoast Banking Corporation of Florida makes up approx 0.01% of Dimensional Fund Advisors Lp’s portfolio.Rhumbline Advisers boosted its stake in SBCF in the latest quarter, The investment management firm added 360 additional shares and now holds a total of 32,342 shares of Seacoast Banking Corporation of Florida which is valued at $554,989.Blackrock Advisors reduced its stake in SBCF by selling 9,371 shares or 33.13% in the most recent quarter. The Hedge Fund company now holds 18,917 shares of SBCF which is valued at $324,616.

Seacoast Banking Corporation of Florida opened for trading at $18.69 and hit $18.82 on the upside on Monday, eventually ending the session at $18.81, with a gain of 0.91% or 0.17 points. The heightened volatility saw the trading volume jump to 3,31,251 shares. Company has a market cap of $715 M.

On the company’s financial health, Seacoast Banking Corporation of Florida reported $0.28 EPS for the quarter, based on the information available during the earnings call on Oct 26, 2016. Analyst had a consensus estimate of $0.28. The company had revenue of $47.21 million for the quarter, compared to analysts expectations of $47.20 million. The company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.18 EPS.

Many Wall Street Analysts have commented on Seacoast Banking Corporation of Florida. Seacoast Banking Corporation of Florida was Downgraded by FIG Partners to ” Market Perform” on Nov 7, 2016. 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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