Principal Financial Group Inc. Sells 16,744 Shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF)

Principal Financial Group Inc. trimmed its stake in shares of Seacoast Banking Co. of Florida (NASDAQ:SBCF) by 4.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 398,490 shares of the financial services provider’s stock after selling 16,744 shares during the quarter. Principal Financial Group Inc. owned approximately 0.47% of Seacoast Banking Co. of Florida worth $10,620,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. GAMMA Investing LLC grew its position in Seacoast Banking Co. of Florida by 73.4% during the 3rd quarter. GAMMA Investing LLC now owns 973 shares of the financial services provider’s stock worth $26,000 after acquiring an additional 412 shares during the last quarter. Innealta Capital LLC bought a new position in Seacoast Banking Co. of Florida during the 2nd quarter worth approximately $55,000. Algert Global LLC bought a new position in Seacoast Banking Co. of Florida during the 2nd quarter worth approximately $202,000. Janney Montgomery Scott LLC grew its position in Seacoast Banking Co. of Florida by 6.0% during the 1st quarter. Janney Montgomery Scott LLC now owns 8,127 shares of the financial services provider’s stock worth $206,000 after acquiring an additional 460 shares during the last quarter. Finally, Xcel Wealth Management LLC bought a new stake in shares of Seacoast Banking Co. of Florida in the 3rd quarter worth approximately $223,000. 81.77% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

SBCF has been the topic of a number of recent analyst reports. Keefe, Bruyette & Woods reiterated an “outperform” rating and issued a $31.00 price objective on shares of Seacoast Banking Co. of Florida in a research report on Wednesday, August 21st. Stephens lifted their price objective on Seacoast Banking Co. of Florida from $25.00 to $26.00 and gave the stock an “equal weight” rating in a research report on Monday, October 28th. Hovde Group lowered Seacoast Banking Co. of Florida from an “outperform” rating to a “market perform” rating and lifted their price objective for the stock from $29.00 to $31.00 in a research report on Monday, July 29th. Finally, Truist Financial cut their price objective on Seacoast Banking Co. of Florida from $30.00 to $28.00 and set a “hold” rating on the stock in a research report on Monday, October 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Seacoast Banking Co. of Florida has an average rating of “Hold” and a consensus price target of $28.70.

Insider Buying and Selling at Seacoast Banking Co. of Florida

In other Seacoast Banking Co. of Florida news, CEO Charles M. Shaffer sold 21,255 shares of Seacoast Banking Co. of Florida stock in a transaction on Monday, November 11th. The stock was sold at an average price of $30.36, for a total transaction of $645,301.80. Following the completion of the transaction, the chief executive officer now owns 126,232 shares in the company, valued at approximately $3,832,403.52. The trade was a 14.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by company insiders.

Seacoast Banking Co. of Florida Trading Down 0.4 %

NASDAQ SBCF opened at $29.50 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.16. Seacoast Banking Co. of Florida has a twelve month low of $21.23 and a twelve month high of $30.78. The firm has a market capitalization of $2.52 billion, a PE ratio of 21.38 and a beta of 1.07. The stock’s 50 day moving average is $27.23 and its 200 day moving average is $25.72.

Seacoast Banking Co. of Florida (NASDAQ:SBCF) last released its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Seacoast Banking Co. of Florida had a return on equity of 5.44% and a net margin of 14.55%. The company had revenue of $130.30 million for the quarter, compared to analyst estimates of $129.20 million. During the same period in the previous year, the company posted $0.37 earnings per share. The firm’s revenue was up 5.5% on a year-over-year basis. Research analysts forecast that Seacoast Banking Co. of Florida will post 1.42 earnings per share for the current fiscal year.

Seacoast Banking Co. of Florida Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Friday, December 13th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.44%. The ex-dividend date of this dividend is Friday, December 13th. Seacoast Banking Co. of Florida’s payout ratio is 52.17%.

About Seacoast Banking Co. of Florida

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.