Principal Financial Group Inc. Decreases Holdings in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Principal Financial Group Inc. lowered its position in Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 398,490 shares of the financial services provider’s stock after selling 16,744 shares during the period. Principal Financial Group Inc.’s holdings in Seacoast Banking Co. of Florida were worth $10,620,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Seacoast Banking Co. of Florida by 73.4% during the third quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock valued at $26,000 after buying an additional 412 shares during the last quarter. KBC Group NV boosted its holdings in Seacoast Banking Co. of Florida by 30.0% during the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock valued at $89,000 after acquiring an additional 768 shares during the period. Meeder Asset Management Inc. purchased a new position in Seacoast Banking Co. of Florida in the 3rd quarter worth approximately $121,000. FMR LLC increased its stake in Seacoast Banking Co. of Florida by 57.3% in the 3rd quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock worth $143,000 after purchasing an additional 1,960 shares during the period. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Seacoast Banking Co. of Florida during the third quarter valued at approximately $178,000. 81.77% of the stock is currently owned by institutional investors.

Seacoast Banking Co. of Florida Trading Up 0.2 %

NASDAQ:SBCF opened at $27.32 on Tuesday. Seacoast Banking Co. of Florida has a 12 month low of $21.90 and a 12 month high of $31.68. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average price of $28.68 and a 200-day moving average price of $26.92. The stock has a market cap of $2.33 billion, a price-to-earnings ratio of 19.80 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $130.30 million for the quarter, compared to the consensus estimate of $129.20 million. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The business’s revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.37 EPS. Equities analysts predict that Seacoast Banking Co. of Florida will post 1.41 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.64%. The ex-dividend date is Friday, December 13th. Seacoast Banking Co. of Florida’s dividend payout ratio is currently 52.17%.

Insider Activity

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of the company’s stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $30.36, for a total value of $645,301.80. Following the sale, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. This represents a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

SBCF has been the topic of several analyst reports. Stephens lifted their target price on shares of Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research note on Monday, October 28th. Truist Financial dropped their target price on shares of Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating for the company in a report on Monday, October 28th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $28.70.

Seacoast Banking Co. of Florida Company Profile

Seacoast Banking Corporation of Florida operates as the bank holding company for Seacoast National Bank that provides integrated financial services to retail and commercial customers in Florida. The company offers noninterest and interest-bearing demand deposit, money market, savings, and customer sweep accounts; time certificates of deposit; construction and land development, commercial and residential real estate, and commercial and financial loans; and consumer loans, including installment loans and revolving lines, as well as loans for automobiles, boats, and personal and family purposes.