Parametric Portfolio Associates LLC grew its holdings in Lakeland Financial Corporation (NASDAQ:LKFN) by 1.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,901 shares of the financial services provider’s stock after purchasing an additional 339 shares during the quarter. Parametric Portfolio Associates LLC owned about 0.08% of Lakeland Financial Corporation worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently modified their holdings of the stock. Alps Advisors Inc. increased its position in Lakeland Financial Corporation by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 10,751 shares of the financial services provider’s stock valued at $493,000 after buying an additional 28 shares in the last quarter. Nationwide Fund Advisors increased its position in Lakeland Financial Corporation by 0.5% in the 2nd quarter. Nationwide Fund Advisors now owns 24,453 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 123 shares in the last quarter. Legal & General Group Plc increased its position in Lakeland Financial Corporation by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock valued at $272,000 after buying an additional 156 shares in the last quarter. Prudential Financial Inc. increased its position in Lakeland Financial Corporation by 4.4% in the 2nd quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock valued at $252,000 after buying an additional 230 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Lakeland Financial Corporation by 1.2% in the 1st quarter. Alliancebernstein L.P. now owns 38,217 shares of the financial services provider’s stock valued at $1,648,000 after buying an additional 450 shares in the last quarter. 69.42% of the stock is owned by institutional investors and hedge funds.
A number of analysts have commented on LKFN shares. ValuEngine lowered Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a report on Thursday. Zacks Investment Research raised Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a report on Tuesday, September 26th. Finally, BidaskClub lowered Lakeland Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $49.00.
In other news, Director M Scott Welch acquired 5,557 shares of the company’s stock in a transaction that occurred on Thursday, September 7th. The shares were acquired at an average price of $41.83 per share, for a total transaction of $232,449.31. Following the completion of the purchase, the director now owns 112,148 shares in the company, valued at $4,691,150.84. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Batty Jill A. De sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $43.31, for a total value of $34,648.00. Following the completion of the transaction, the insider now owns 8,132 shares in the company, valued at approximately $352,196.92. The disclosure for this sale can be found here. Over the last ninety days, insiders bought 10,113 shares of company stock valued at $425,381. 5.00% of the stock is currently owned by corporate insiders.
Shares of Lakeland Financial Corporation (NASDAQ:LKFN) opened at $48.15 on Friday. The company has a market capitalization of $1,213.14, a P/E ratio of 20.75, a price-to-earnings-growth ratio of 2.02 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.95. Lakeland Financial Corporation has a twelve month low of $39.68 and a twelve month high of $50.00.
Lakeland Financial Corporation (NASDAQ:LKFN) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $44.12 million during the quarter, compared to analyst estimates of $43.91 million. Lakeland Financial Corporation had a return on equity of 13.33% and a net margin of 30.67%. sell-side analysts predict that Lakeland Financial Corporation will post 2.38 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Wednesday, October 25th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.83%. The ex-dividend date was Tuesday, October 24th. Lakeland Financial Corporation’s dividend payout ratio is presently 37.93%.
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Lakeland Financial Corporation Profile
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.
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