Hedge Funds Are Crazy About Seacoast Banking Corporation of Florida (SBCF)

Now, specific money managers have been driving this bullishness. Peter Rathjens, Bruce Clarke and John Campbell of Arrowstreet Capital assembled the largest position in Seacoast Banking Corporation of Florida (NASDAQ:SBCF). Arrowstreet Capital had $1.6 million invested in the company at the end of the quarter. Eric Halet and Davide Serra’s Algebris Investments also made a $0.7 million investment in the stock during the quarter. The only other fund with a brand new SBCF position is Gavin Saitowitz and Cisco J. del Valle’s Springbok Capital.

Let’s now take a look at hedge fund activity in other stocks similar to Seacoast Banking Corporation of Florida (NASDAQ:SBCF). We will take a look at Ardelyx Inc (NASDAQ:ARDX), Intellia Therapeutics Inc (NASDAQ:NTLA), National Presto Industries Inc. (NYSE:NPK), and TriCo Bancshares (NASDAQ:TCBK). This group of stocks’ market values match SBCF’s market value.

As you can see these stocks had an average of 10 hedge funds with bullish positions and the average amount invested in these stocks was $81 million. That figure was $80 million in SBCF’s case. Ardelyx Inc (NASDAQ:ARDX) is the most popular stock in this table. On the other hand TriCo Bancshares (NASDAQ:TCBK) is the least popular one with only 7 bullish hedge fund positions. Compared to these stocks Seacoast Banking Corporation of Florida (NASDAQ:SBCF) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: None