Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by Aviva PLC

Aviva PLC lessened its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) by 36.3% during the fourth quarter, Holdings Channel.com reports. The fund owned 13,324 shares of the financial services provider’s stock after selling 7,599 shares during the period. Aviva PLC’s holdings in Lakeland Financial were worth $972,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio boosted its stake in Lakeland Financial by 47.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 431 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 139 shares in the last quarter. Commonwealth Equity Services LLC grew its holdings in Lakeland Financial by 4.3% during the fourth quarter. Commonwealth Equity Services LLC now owns 3,745 shares of the financial services provider’s stock worth $273,000 after acquiring an additional 156 shares during the period. Captrust Financial Advisors grew its holdings in Lakeland Financial by 45.3% during the second quarter. Captrust Financial Advisors now owns 542 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 169 shares during the period. Raymond James & Associates raised its position in Lakeland Financial by 6.2% in the first quarter. Raymond James & Associates now owns 3,075 shares of the financial services provider’s stock worth $224,000 after acquiring an additional 179 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Lakeland Financial by 1.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,152 shares of the financial services provider’s stock valued at $1,139,000 after acquiring an additional 184 shares during the last quarter. Institutional investors own 80.45% of the company’s stock.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, Director M Scott Welch bought 5,016 shares of the firm’s stock in a transaction dated Thursday, March 9th. The stock was acquired at an average price of $64.97 per share, with a total value of $325,889.52. Following the completion of the transaction, the director now directly owns 5,016 shares in the company, valued at approximately $325,889.52. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Lakeland Financial news, Director M Scott Welch acquired 5,016 shares of the firm’s stock in a transaction on Thursday, March 9th. The stock was purchased at an average cost of $64.97 per share, for a total transaction of $325,889.52. Following the transaction, the director now owns 5,016 shares of the company’s stock, valued at approximately $325,889.52. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Brian J. Smith bought 10,000 shares of the company’s stock in a transaction dated Friday, April 28th. The stock was acquired at an average price of $51.00 per share, for a total transaction of $510,000.00. Following the acquisition, the director now directly owns 38,185 shares in the company, valued at $1,947,435. The disclosure for this purchase can be found here. Insiders have bought a total of 32,756 shares of company stock valued at $1,956,985 in the last three months. 3.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts recently commented on LKFN shares. StockNews.com initiated coverage on shares of Lakeland Financial in a report on Thursday. They issued a “sell” rating on the stock. Raymond James decreased their price target on shares of Lakeland Financial from $74.00 to $66.00 in a research report on Wednesday, April 26th.

Lakeland Financial Trading Down 1.8 %

NASDAQ:LKFN opened at $47.00 on Friday. The stock has a fifty day simple moving average of $56.23 and a 200 day simple moving average of $67.55. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 11.58 and a beta of 0.72. Lakeland Financial Co. has a 1-year low of $43.05 and a 1-year high of $83.57. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.33.

Lakeland Financial (NASDAQ:LKFN – Get Rating) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.94 EPS for the quarter, missing analysts’ consensus estimates of $1.08 by ($0.14). The firm had revenue of $89.53 million for the quarter, compared to analysts’ expectations of $66.40 million. Lakeland Financial had a net margin of 33.46% and a return on equity of 18.55%. During the same period in the prior year, the company posted $0.92 earnings per share. Sell-side analysts forecast that Lakeland Financial Co. will post 3.72 earnings per share for the current year.

Lakeland Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 5th. Shareholders of record on Tuesday, April 25th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 3.91%. The ex-dividend date was Monday, April 24th. Lakeland Financial’s payout ratio is 45.32%.

Lakeland Financial Profile

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Lakeland Financial Corp. is a bank holding company, which engages in the provision of banking products and services. It offers commercial and consumer banking, trust and wealth management, brokerage, and treasury management commercial services. The company was founded on February 8, 1983 and is headquartered in Warsaw, IN.