Long Position on SBCF @ $24.00 on 2/17/2017 (Momentum)

Seacoast Banking Corporation of Florida (SBCF) operates as the bank holding company for Seacoast National Bank that provides community banking services to the commercial, small business, and retail customers in Florida.

It offers various transaction and savings deposit products; secured and unsecured loan products, including revolving credit facilities, and letters of credit and related financial guarantees; and securities and annuity products.

The company also provides trust and asset management services to retirement plans, corporations, and individuals; treasury management services; brokerage services; and Internet and mobile banking services.

As of December 31, 2015, it had 42 branch offices, 5 commercial lending offices, and its main office in Florida. Shares have formed a bullish "up and handle" and higher share prices are expected for this stock.

52-Weeks Trading Range: $13.96 - $25.13

Entry Point: $24.00

Stop Loss: $22.80

Target Price: $26.40

Updates

3/28/2017 10:32:38 AM

SBCF closed at $23.26

Position closed on 3/28/2017 at price of $23.26 with a -3.08% loss in 39 days.

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