Principal Financial Group Inc. Purchases 12,142 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Principal Financial Group Inc. increased its holdings in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF - Free Report) by 3.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 410,632 shares of the financial services provider's stock after purchasing an additional 12,142 shares during the quarter. Principal Financial Group Inc. owned 0.48% of Seacoast Banking Co. of Florida worth $11,305,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SBCF. State Street Corp boosted its holdings in shares of Seacoast Banking Co. of Florida by 0.7% in the third quarter. State Street Corp now owns 4,239,308 shares of the financial services provider's stock valued at $112,978,000 after buying an additional 28,066 shares during the period. Wellington Management Group LLP boosted its stake in Seacoast Banking Co. of Florida by 7.9% in the 3rd quarter. Wellington Management Group LLP now owns 4,170,515 shares of the financial services provider's stock worth $111,144,000 after purchasing an additional 305,843 shares during the period. Geode Capital Management LLC increased its holdings in Seacoast Banking Co. of Florida by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,024,351 shares of the financial services provider's stock worth $53,959,000 after purchasing an additional 23,396 shares in the last quarter. Segall Bryant & Hamill LLC raised its stake in shares of Seacoast Banking Co. of Florida by 0.7% in the 3rd quarter. Segall Bryant & Hamill LLC now owns 1,846,418 shares of the financial services provider's stock valued at $49,207,000 after purchasing an additional 13,567 shares during the period. Finally, abrdn plc lifted its holdings in shares of Seacoast Banking Co. of Florida by 10.9% in the third quarter. abrdn plc now owns 1,122,478 shares of the financial services provider's stock valued at $29,914,000 after purchasing an additional 110,582 shares in the last quarter. 81.77% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Raymond James reiterated an "outperform" rating and set a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. StockNews.com raised shares of Seacoast Banking Co. of Florida from a "sell" rating to a "hold" rating in a research note on Wednesday, January 29th. Finally, Stephens boosted their price objective on shares of Seacoast Banking Co. of Florida from $28.00 to $29.00 and gave the stock an "equal weight" rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $30.00.

Seacoast Banking Co. of Florida Stock Performance

Shares of SBCF traded down $0.20 during midday trading on Monday, reaching $28.08. The stock had a trading volume of 199,319 shares, compared to its average volume of 383,882. The firm has a market cap of $2.40 billion, a PE ratio of 19.64 and a beta of 1.08. The firm has a 50 day simple moving average of $27.80 and a 200-day simple moving average of $27.75. Seacoast Banking Co. of Florida has a one year low of $21.90 and a one year high of $31.68. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.16.

Seacoast Banking Co. of Florida (NASDAQ:SBCF - Get Free Report) last announced its quarterly earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share for the quarter, topping analysts' consensus estimates of $0.33 by $0.15. Seacoast Banking Co. of Florida had a return on equity of 5.91% and a net margin of 14.95%. As a group, sell-side analysts anticipate that Seacoast Banking Co. of Florida will post 1.71 EPS for the current year.

Seacoast Banking Co. of Florida Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Friday, March 14th will be issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, March 14th. Seacoast Banking Co. of Florida's dividend payout ratio is 50.35%.

About Seacoast Banking Co. of Florida

Seacoast Banking Corp. of Florida is a financial holding company, which engages in the provision of integrated financial services. It provides banking and investment services to businesses and consumers, including personal and business deposit products, Internet and mobile banking, personal, commercial and mortgage loans, wealth management services, and treasury management solutions.