Keybank National Association OH Buys 1,490 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

Keybank National Association OH lifted its holdings in Lakeland Financial Co. (NASDAQ:LKFNFree Report) by 16.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 10,579 shares of the financial services provider’s stock after purchasing an additional 1,490 shares during the quarter. Keybank National Association OH’s holdings in Lakeland Financial were worth $502,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased its stake in Lakeland Financial by 3.5% during the 1st quarter. BlackRock Inc. now owns 3,807,592 shares of the financial services provider’s stock worth $277,953,000 after buying an additional 128,992 shares in the last quarter. Vanguard Group Inc. increased its stake in Lakeland Financial by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 1,838,241 shares of the financial services provider’s stock worth $133,843,000 after buying an additional 35,326 shares in the last quarter. Victory Capital Management Inc. increased its stake in Lakeland Financial by 26.1% during the 3rd quarter. Victory Capital Management Inc. now owns 1,452,481 shares of the financial services provider’s stock worth $68,935,000 after buying an additional 300,747 shares in the last quarter. State Street Corp increased its stake in Lakeland Financial by 27.4% during the 1st quarter. State Street Corp now owns 1,308,005 shares of the financial services provider’s stock worth $95,484,000 after buying an additional 280,943 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Lakeland Financial by 0.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 774,927 shares of the financial services provider’s stock worth $37,602,000 after buying an additional 2,174 shares in the last quarter. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Lakeland Financial Stock Down 0.6 %

Shares of NASDAQ LKFN opened at $63.67 on Thursday. The company has a market capitalization of $1.62 billion, a price-to-earnings ratio of 17.44 and a beta of 0.70. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.88 and a quick ratio of 0.88. The business has a 50-day moving average of $64.16 and a two-hundred day moving average of $56.02. Lakeland Financial Co. has a 1 year low of $43.05 and a 1 year high of $73.22.

Lakeland Financial (NASDAQ:LKFNGet Free Report) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.98 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.10. Lakeland Financial had a return on equity of 14.89% and a net margin of 23.85%. The business had revenue of $65.81 million during the quarter, compared to the consensus estimate of $59.81 million. During the same period in the previous year, the business earned $1.01 EPS. On average, analysts forecast that Lakeland Financial Co. will post 3.49 earnings per share for the current fiscal year.

Lakeland Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Thursday, January 25th were issued a $0.48 dividend. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.46. This represents a $1.92 annualized dividend and a dividend yield of 3.02%. The ex-dividend date of this dividend was Wednesday, January 24th. Lakeland Financial’s payout ratio is presently 52.60%.

Analyst Upgrades and Downgrades

LKFN has been the topic of a number of analyst reports. TheStreet upgraded Lakeland Financial from a “c+” rating to a “b-” rating in a research report on Monday, December 4th. Stephens lifted their price objective on Lakeland Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. StockNews.com upgraded Lakeland Financial to a “sell” rating in a research report on Thursday, October 26th. Finally, Raymond James lifted their target price on Lakeland Financial from $60.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, January 26th.

Read Our Latest Stock Report on Lakeland Financial

Insider Activity

In other news, Director Michael L. Kubacki sold 26,600 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $71.51, for a total value of $1,902,166.00. Following the completion of the sale, the director now directly owns 39,800 shares of the company’s stock, valued at approximately $2,846,098. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.40% of the company’s stock.

Lakeland Financial Profile

(Free Report)

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.

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Institutional Ownership by Quarter for Lakeland Financial (NASDAQ:LKFN)

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