Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP lessened its position in Lakeland Financial Co. (NASDAQ:LKFNFree Report) by 21.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,206 shares of the financial services provider’s stock after selling 1,122 shares during the quarter. Quantbot Technologies LP’s holdings in Lakeland Financial were worth $200,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Illinois Municipal Retirement Fund purchased a new position in shares of Lakeland Financial in the third quarter valued at approximately $724,000. Assenagon Asset Management S.A. lifted its position in shares of Lakeland Financial by 25.4% in the third quarter. Assenagon Asset Management S.A. now owns 70,843 shares of the financial services provider’s stock valued at $3,362,000 after acquiring an additional 14,357 shares in the last quarter. Victory Capital Management Inc. lifted its position in shares of Lakeland Financial by 26.1% in the third quarter. Victory Capital Management Inc. now owns 1,452,481 shares of the financial services provider’s stock valued at $68,935,000 after acquiring an additional 300,747 shares in the last quarter. SYM FINANCIAL Corp purchased a new position in shares of Lakeland Financial in the third quarter valued at approximately $1,544,000. Finally, Inspire Investing LLC purchased a new position in shares of Lakeland Financial in the third quarter valued at approximately $308,000. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Insiders Place Their Bets

In other Lakeland Financial news, SVP Stephanie R. Leniski sold 2,560 shares of the firm’s stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $63.17, for a total transaction of $161,715.20. Following the completion of the sale, the senior vice president now owns 4,270 shares of the company’s stock, valued at $269,735.90. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, SVP Stephanie R. Leniski sold 2,560 shares of Lakeland Financial stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $63.17, for a total value of $161,715.20. Following the completion of the sale, the senior vice president now directly owns 4,270 shares of the company’s stock, valued at $269,735.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael L. Kubacki sold 26,600 shares of Lakeland Financial stock in a transaction on Tuesday, January 30th. The shares were 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 $2,846,098. The disclosure for this sale can be found here. 3.40% of the stock is owned by insiders.

Lakeland Financial Price Performance

LKFN stock opened at $66.06 on Friday. The business has a fifty day moving average of $64.51 and a two-hundred day moving average of $56.16. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.08. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 18.10 and a beta of 0.70. Lakeland Financial Co. has a 52-week low of $43.05 and a 52-week 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 (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. The company had revenue of $65.81 million during the quarter, compared to analysts’ expectations of $59.81 million. Lakeland Financial had a return on equity of 14.89% and a net margin of 23.85%. During the same quarter last year, the firm earned $1.01 earnings per share. As a group, research analysts anticipate that Lakeland Financial Co. will post 3.49 earnings per share for the current year.

Lakeland Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Thursday, January 25th were paid a dividend of $0.48 per share. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.46. The ex-dividend date was Wednesday, January 24th. This represents a $1.92 annualized dividend and a yield of 2.91%. Lakeland Financial’s dividend payout ratio (DPR) is 52.60%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Raymond James raised 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. StockNews.com upgraded Lakeland Financial to a “sell” rating in a research report on Thursday, October 26th. 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. Finally, TheStreet upgraded Lakeland Financial from a “c+” rating to a “b-” rating in a research report on Monday, December 4th.

View Our Latest Research Report on Lakeland Financial

About Lakeland Financial

(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.

Further Reading

Want to see what other hedge funds are holding LKFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Financial Co. (NASDAQ:LKFNFree Report).

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

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