John W. Rosenthal Capital Management Inc. cut its holdings in shares of Lakeland Financial Corporation (NASDAQ:LKFN) by 18.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,000 shares of the financial services provider’s stock after selling 27,174 shares during the period. Lakeland Financial Corporation makes up 4.6% of John W. Rosenthal Capital Management Inc.’s holdings, making the stock its 4th biggest holding. John W. Rosenthal Capital Management Inc. owned 0.49% of Lakeland Financial Corporation worth $5,993,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of Lakeland Financial Corporation by 7.6% during the second quarter. Wells Fargo & Company MN now owns 79,494 shares of the financial services provider’s stock worth $3,647,000 after acquiring an additional 5,634 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Lakeland Financial Corporation by 1.7% during the second quarter. Franklin Resources Inc. now owns 1,948,115 shares of the financial services provider’s stock worth $89,380,000 after acquiring an additional 31,765 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of Lakeland Financial Corporation by 4.2% during the first quarter. Parametric Portfolio Associates LLC now owns 20,562 shares of the financial services provider’s stock worth $887,000 after acquiring an additional 836 shares in the last quarter. Menta Capital LLC purchased a new position in Lakeland Financial Corporation during the second quarter worth about $1,051,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Lakeland Financial Corporation by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock worth $43,992,000 after purchasing an additional 28,198 shares during the last quarter. 70.10% of the stock is owned by institutional investors.
In related news, Director M Scott Welch bought 5,557 shares of the company’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $41.83 per share, for a total transaction of $232,449.31. Following the completion of the purchase, the director now directly owns 112,148 shares in the company, valued at $4,691,150.84. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Batty Jill A. De sold 800 shares of the business’s stock in a transaction dated Tuesday, September 5th. The shares were sold at an average price of $43.31, for a total transaction of $34,648.00. Following the completion of the transaction, the insider now owns 8,132 shares in the company, valued at $352,196.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have purchased 10,113 shares of company stock worth $425,381. 5.00% of the stock is owned by corporate insiders.
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Several research firms recently weighed in on LKFN. Zacks Investment Research upgraded shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a report on Saturday, October 28th. ValuEngine cut shares of Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, BidaskClub cut shares of Lakeland Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the stock. Lakeland Financial Corporation currently has an average rating of “Hold” and a consensus price target of $49.00.
Lakeland Financial Corporation (NASDAQ:LKFN) traded up $0.57 during trading on Friday, reaching $47.64. 74,500 shares of the company traded hands, compared to its average volume of 77,588. Lakeland Financial Corporation has a 1-year low of $39.68 and a 1-year high of $50.00. The stock has a market capitalization of $1,200.29, a PE ratio of 20.53, a PEG ratio of 2.00 and a beta of 0.83. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07.
Lakeland Financial Corporation (NASDAQ:LKFN) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. Lakeland Financial Corporation had a net margin of 30.67% and a return on equity of 13.33%. The business had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.91 million. equities analysts predict that Lakeland Financial Corporation will post 2.38 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, November 6th. Investors of record on Wednesday, October 25th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.85%. The ex-dividend date of this dividend was Tuesday, October 24th. Lakeland Financial Corporation’s dividend payout ratio (DPR) is presently 37.93%.
Lakeland Financial Corporation Company Profile
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.
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