Principal Financial Group Inc. Has $11.31 Million Stock Position in Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Principal Financial Group Inc. lifted its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 3.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 410,632 shares of the financial services provider’s stock after buying an additional 12,142 shares during the period. Principal Financial Group Inc. owned about 0.48% of Seacoast Banking Co. of Florida worth $11,305,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. KBC Group NV increased its holdings in Seacoast Banking Co. of Florida by 30.0% in the 3rd quarter. KBC Group NV now owns 3,326 shares of the financial services provider’s stock worth $89,000 after purchasing an additional 768 shares in the last quarter. Meeder Asset Management Inc. bought a new stake in shares of Seacoast Banking Co. of Florida during the third quarter worth about $121,000. FMR LLC increased its stake in shares of Seacoast Banking Co. of Florida by 57.3% in the third quarter. FMR LLC now owns 5,382 shares of the financial services provider’s stock valued at $143,000 after buying an additional 1,960 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in Seacoast Banking Co. of Florida in the 3rd quarter valued at approximately $178,000. Finally, ZWJ Investment Counsel Inc. acquired a new stake in Seacoast Banking Co. of Florida during the 4th quarter worth approximately $203,000. 81.77% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have issued reports on SBCF shares. StockNews.com upgraded shares of Seacoast Banking Co. of Florida from a “sell” rating to a “hold” rating in a research report on Wednesday, January 29th. Raymond James restated an “outperform” rating and issued a $31.00 price objective (up from $29.00) on shares of Seacoast Banking Co. of Florida in a report on Wednesday, January 29th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Seacoast Banking Co. of Florida has a consensus rating of “Hold” and an average target price of $29.40.

Seacoast Banking Co. of Florida Stock Up 0.3 %

Shares of NASDAQ SBCF opened at $27.91 on Friday. The company’s 50 day moving average price is $27.76 and its 200-day moving average price is $27.70. The company has a debt-to-equity ratio of 0.16, a quick ratio of 0.85 and a current ratio of 0.85. Seacoast Banking Co. of Florida has a 52-week low of $21.90 and a 52-week high of $31.68. The company has a market capitalization of $2.38 billion, a P/E ratio of 19.52 and a beta of 1.08.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its earnings results on Monday, January 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.15. Seacoast Banking Co. of Florida had a net margin of 14.95% and a return on equity of 5.91%. Equities analysts forecast that Seacoast Banking Co. of Florida will post 1.71 earnings per share for the current year.

Seacoast Banking Co. of Florida Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a dividend of $0.18 per share. The ex-dividend date is Friday, March 14th. This represents a $0.72 annualized dividend and a dividend yield of 2.58%. Seacoast Banking Co. of Florida’s payout ratio is 50.35%.

Seacoast Banking Co. of Florida Company Profile

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.