3,054 Shares in Lakeland Financial Co. (NASDAQ:LKFN) Acquired by Point72 Asset Management L.P.

Point72 Asset Management L.P. bought a new stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,054 shares of the financial services provider’s stock, valued at approximately $199,000.

Other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Lakeland Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 902,968 shares of the financial services provider’s stock valued at $58,801,000 after purchasing an additional 27,214 shares during the period. Dimensional Fund Advisors LP grew its position in Lakeland Financial by 1.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider’s stock valued at $50,232,000 after buying an additional 11,118 shares in the last quarter. Eagle Asset Management Inc. increased its stake in Lakeland Financial by 29.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider’s stock valued at $16,289,000 after buying an additional 56,928 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Lakeland Financial by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock worth $14,386,000 after buying an additional 12,846 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in shares of Lakeland Financial by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider’s stock worth $14,327,000 after acquiring an additional 684 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.

Lakeland Financial Price Performance

NASDAQ LKFN opened at $73.02 on Friday. Lakeland Financial Co. has a 12 month low of $57.45 and a 12 month high of $78.61. The firm has a market capitalization of $1.86 billion, a PE ratio of 18.97 and a beta of 0.67. The company’s 50 day simple moving average is $69.73 and its 200 day simple moving average is $65.85.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. The company had revenue of $106.94 million for the quarter, compared to analysts’ expectations of $59.90 million. During the same period last year, the firm earned $0.98 EPS. Sell-side analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.63%. The ex-dividend date was Friday, October 25th. Lakeland Financial’s dividend payout ratio (DPR) is presently 49.87%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the transaction, the executive vice president now owns 32,475 shares in the company, valued at approximately $2,386,912.50. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In the last three months, insiders sold 4,150 shares of company stock valued at $305,327. 3.30% of the stock is owned by insiders.

About Lakeland Financial

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.