The Attractiveness of Investing In Seacoast Banking Corp. Of Florida (SBCF) is Growing

In a filing, Seacoast Banking Corp. Of Florida revealed its Director Lipstein Robert J acquired Company’s shares for reported $24987.0 on Oct 31 ’23. In the deal valued at $19.99 per share,1,250 shares were bought. As a result of this transaction, Lipstein Robert J now holds 15,165 shares worth roughly $0.37 million.

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Then, STALLINGS JAMES C III sold 2,990 shares, generating $71,105 in total proceeds. Upon selling the shares at $23.78, the EVP, Chief Credit Officer now owns 0 shares.

Before that, FOGAL CHRISTOPHER E bought 2,385 shares. Seacoast Banking Corp. Of Florida shares valued at $49,274 were divested by the Director at a price of $20.66 per share. As a result of the transaction, FOGAL CHRISTOPHER E now holds 6,875 shares, worth roughly $0.17 million.

Truist downgraded its Seacoast Banking Corp. Of Florida [SBCF] rating to a Hold from a a Buy in a research note published on January 05, 2024; the price target was decreased to $29 from $33. A number of analysts have revised their coverage, including Stephens’s analysts, who began to cover the stock in mid September with a ‘”an Equal-weight”‘ rating. Hovde Group also remained covering SBCF and has increased its forecast on March 17, 2023 with a “an Outperform” recommendation from previously “Market perform” rating. B. Riley Securities revised its rating on October 06, 2021. It rated SBCF as “a Neutral” which previously was an “a Buy”.

Price Performance Review of SBCF

On Tuesday, Seacoast Banking Corp. Of Florida [NASDAQ:SBCF] saw its stock fall -1.57% to $24.44. Over the last five days, the stock has lost -1.37%. Seacoast Banking Corp. Of Florida shares have fallen nearly -14.13% since the year began. Nevertheless, the stocks have fallen -7.91% over the past one year. While a 52-week high of $29.98 was reached on 01/02/24, a 52-week low of $17.93 was recorded on 02/02/24. SMA at 50 days reached $25.41, while 200 days put it at $23.79. A total of 0.32 million shares were traded, compared to the trading of 0.3 million shares in the previous session.

Levels Of Support And Resistance For SBCF Stock

The 24-hour chart illustrates a support level at 24.16, which if violated will result in even more drops to 23.88. On the upside, there is a resistance level at 24.81. A further resistance level may holdings at 25.18. The Relative Strength Index (RSI) on the 14-day chart is 46.90, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.47, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 57.46%. Stochastics %K at 58.28% indicates the stock is a holding.

How much short interest is there in Seacoast Banking Corp. Of Florida?

A steep rise in short interest was recorded in Seacoast Banking Corp. Of Florida stocks on Feb 29, 2024, growing by 90000.0 shares to a total of 1.81 million shares. Yahoo Finance data shows the prior-month short interest on Jan 31, 2024 was 1.72 million shares. There was a rise of 4.97%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 2.41% of the overall stock float, the days-to-cover ratio (short ratio) rose to 4.33.

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