GAMMA Investing LLC Makes New Investment in Lakeland Financial Co. (NASDAQ:LKFN)

GAMMA Investing LLC bought a new stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 899 shares of the financial services provider’s stock, valued at approximately $60,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. SYM FINANCIAL Corp bought a new stake in Lakeland Financial during the 3rd quarter worth approximately $1,544,000. Illinois Municipal Retirement Fund purchased a new stake in shares of Lakeland Financial in the third quarter worth $724,000. Kennedy Capital Management LLC boosted its stake in Lakeland Financial by 41.0% during the third quarter. Kennedy Capital Management LLC now owns 113,114 shares of the financial services provider’s stock valued at $5,368,000 after buying an additional 32,912 shares during the period. Northern Trust Corp grew its position in Lakeland Financial by 2.8% during the third quarter. Northern Trust Corp now owns 463,234 shares of the financial services provider’s stock worth $21,985,000 after buying an additional 12,618 shares in the last quarter. Finally, Heartland Advisors Inc. bought a new position in Lakeland Financial in the 3rd quarter worth about $1,193,000. 81.15% of the stock is currently owned by institutional investors.

Lakeland Financial Price Performance

Shares of Lakeland Financial stock opened at $60.66 on Thursday. The firm has a market capitalization of $1.58 billion, a PE ratio of 16.76 and a beta of 0.67. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Lakeland Financial Co. has a 12 month low of $43.05 and a 12 month high of $73.22. The business’s 50-day moving average price is $62.54 and its 200-day moving average price is $60.93.

Lakeland Financial Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 25th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.17%. The ex-dividend date of this dividend is Wednesday, April 24th. Lakeland Financial’s payout ratio is 53.04%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on LKFN shares. Raymond James boosted their price objective on Lakeland Financial from $60.00 to $78.00 and gave the stock an “outperform” rating in a report on Friday, January 26th. Stephens boosted their price target on shares of Lakeland Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th.

Insider Activity at Lakeland Financial

In other Lakeland Financial news, Director Steven D. Ross sold 1,300 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $64.50, for a total value of $83,850.00. Following the transaction, the director now owns 27,501 shares in the company, valued at $1,773,814.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Eric H. Ottinger sold 5,247 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $66.75, for a total value of $350,237.25. Following the sale, the executive vice president now directly owns 36,475 shares of the company’s stock, valued at $2,434,706.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Steven D. Ross sold 1,300 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $64.50, for a total value of $83,850.00. Following the transaction, the director now directly owns 27,501 shares of the company’s stock, valued at approximately $1,773,814.50. The disclosure for this sale can be found here. Insiders sold 27,128 shares of company stock worth $1,768,283 in the last three months. 3.30% of the stock is owned by insiders.

Lakeland Financial Company Profile

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.