WINTON GROUP Ltd acquired a new position in shares of Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,865 shares of the financial services provider’s stock, valued at approximately $456,000.
Several other large investors have also added to or reduced their stakes in LKFN. State Street Corp grew its stake in Lakeland Financial by 27.4% during the first quarter. State Street Corp now owns 1,308,005 shares of the financial services provider’s stock worth $95,484,000 after purchasing an additional 280,943 shares during the period. Vanguard Group Inc. grew its stake in Lakeland Financial by 11.4% during the first quarter. Vanguard Group Inc. now owns 1,768,640 shares of the financial services provider’s stock worth $129,111,000 after purchasing an additional 181,199 shares during the period. BlackRock Inc. grew its stake in Lakeland Financial by 3.5% during the first quarter. BlackRock Inc. now owns 3,807,592 shares of the financial services provider’s stock worth $277,953,000 after purchasing an additional 128,992 shares during the period. Invesco Ltd. grew its stake in Lakeland Financial by 222.6% during the first quarter. Invesco Ltd. now owns 167,036 shares of the financial services provider’s stock worth $12,193,000 after purchasing an additional 115,258 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new stake in Lakeland Financial during the second quarter worth approximately $4,845,000. Institutional investors and hedge funds own 81.26% of the company’s stock.
Insider Buying and Selling at Lakeland Financial
In other Lakeland Financial news, CAO Brok A. Lahrman sold 312 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $82.03, for a total value of $25,593.36. Following the completion of the sale, the chief accounting officer now owns 588 shares of the company’s stock, valued at $48,233.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Michael L. Kubacki sold 47,520 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The stock was sold at an average price of $82.79, for a total value of $3,934,180.80. Following the transaction, the director now owns 76,250 shares in the company, valued at $6,312,737.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Brok A. Lahrman sold 312 shares of the firm’s stock in a transaction that occurred on Friday, October 28th. The shares were sold at an average price of $82.03, for a total value of $25,593.36. Following the completion of the transaction, the chief accounting officer now owns 588 shares in the company, valued at approximately $48,233.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,932 shares of company stock valued at $4,373,483. Company insiders own 4.00% of the company’s stock.
Lakeland Financial Stock Performance
Lakeland Financial Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th were paid a $0.40 dividend. The ex-dividend date was Monday, October 24th. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. Lakeland Financial’s dividend payout ratio (DPR) is presently 40.20%.
Analyst Ratings Changes
LKFN has been the subject of several recent analyst reports. Stephens raised their target price on Lakeland Financial to $80.00 in a research note on Tuesday, August 23rd. StockNews.com started coverage on Lakeland Financial in a research note on Wednesday, October 12th. They issued a “hold” rating for the company.
About Lakeland Financial
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.
- Get a free copy of the StockNews.com research report on Lakeland Financial (LKFN)
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