Seacoast Banking Corporation of Florida (SBCF) Stock Formed Double Top Pattern. What To Expect?

July 27, 2018 - By Megan Stone

Investors sentiment decreased to 1.45 in 2018 Q1. Its down 0.03, from 1.48 in 2017Q4. It turned negative, as 14 investors sold Seacoast Banking Corporation of Florida shares while 41 reduced holdings. 35 funds opened positions while 45 raised stakes. 37.65 million shares or 9.72% more from 34.32 million shares in 2017Q4 were reported.
Ameriprise Fincl accumulated 0.01% or 712,658 shares. 28,689 were reported by Wellington Mngmt Gp Limited Liability Partnership. State Street holds 1.63 million shares. Mufg Americas Holdg reported 550 shares stake. Moreover, Schwab Charles Investment Mngmt Inc has 0% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Swiss Retail Bank invested in 0% or 64,500 shares. 3,160 were accumulated by First Quadrant Ltd Partnership Ca. Blackrock has invested 0.01% in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). D E Shaw & owns 20,096 shares. Tiaa Cref Investment Ltd Liability Co invested in 0% or 103,021 shares. Employees Retirement Systems Of Texas owns 69,000 shares or 0.02% of their US portfolio. Northern Trust Corporation holds 0% of its portfolio in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 486,017 shares. Basswood Capital Management Lc holds 1% or 877,868 shares in its portfolio. Savings Bank Of Montreal Can has 0% invested in Seacoast Banking Corporation of Florida (NASDAQ:SBCF) for 2,366 shares. Lord Abbett & Com Llc owns 892,370 shares.

Since March 7, 2018, it had 0 buys, and 6 insider sales for $604,111 activity. $175,616 worth of stock was sold by Goldman Roger on Wednesday, March 7. The insider Shaffer Charles M sold $43,250.

The chart of Seacoast Banking Corporation of Florida (SBCF) shows a double top with $34.29 target or 4.00 % above today’s $32.97 share price. The 5 months chart pattern indicates low risk for the $1.55 billion company. It was reported on Jul, 27 by Finviz.com. If the $34.29 price target is reached, the company will be worth $61.92M more. Double tops are rare but powerful chart patterns.

The stock increased 0.46% or $0.15 during the last trading session, reaching $32.97. About 215,255 shares traded. Seacoast Banking Corporation of Florida (NASDAQ:SBCF) has risen 39.16% since July 27, 2017 and is uptrending. It has outperformed by 26.59% the S&P500.

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

Among 4 analysts covering Seacoast Banking Corporation Of Florida (NASDAQ:SBCF), 1 have Buy rating, 0 Sell and 3 Hold. Therefore 25% are positive. Seacoast Banking Corporation Of Florida had 4 analyst reports since January 30, 2018 according to SRatingsIntel. The firm earned “Hold” rating on Thursday, May 31 by Sandler O’Neill. Guggenheim maintained Seacoast Banking Corporation of Florida (NASDAQ:SBCF) rating on Tuesday, January 30. Guggenheim has “Hold” rating and $28.0 target. The rating was downgraded by Raymond James to “Market Perform” on Tuesday, May 29. Hovde Group upgraded the shares of SBCF in report on Wednesday, February 7 to “Outperform” rating.

More recent Seacoast Banking Corporation of Florida (NASDAQ:SBCF) news were published by: Streetinsider.com which released: “Seacoast Banking Corporation of Florida (SBCF) Misses Q2 EPS by 5c” on July 26, 2018. Also Globenewswire.com published the news titled: “Seacoast Reports Second Quarter 2018 Results” on July 26, 2018. Nasdaq.com‘s news article titled: “Seacoast Banking Corporation of Florida to Announce Second Quarter Earnings Results July 26” with publication date: July 02, 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 $1.55 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 28.16 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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