Atria Investments Inc Trims Stock Position in Lakeland Financial Co. (NASDAQ:LKFN)

Atria Investments Inc cut its position in Lakeland Financial Co. (NASDAQ:LKFN) by 25.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,480 shares of the financial services provider’s stock after selling 1,218 shares during the quarter. Atria Investments Inc’s holdings in Lakeland Financial were worth $227,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of LKFN. nVerses Capital LLC purchased a new stake in shares of Lakeland Financial in the second quarter worth $31,000. Fifth Third Bancorp raised its holdings in shares of Lakeland Financial by 342.5% in the 2nd quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 459 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Lakeland Financial by 58.0% during the 3rd quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 235 shares during the last quarter. US Bancorp DE boosted its position in shares of Lakeland Financial by 72.2% during the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 890 shares during the last quarter. Finally, Everence Capital Management Inc. purchased a new position in shares of Lakeland Financial during the third quarter worth about $201,000. 81.15% of the stock is owned by institutional investors.

Lakeland Financial Stock Up 2.4 %

NASDAQ LKFN opened at $75.38 on Friday. The stock’s 50-day simple moving average is $67.34 and its two-hundred day simple moving average is $64.68. Lakeland Financial Co. has a twelve month low of $53.97 and a twelve month high of $78.31. The company has a market capitalization of $1.92 billion, a price-to-earnings ratio of 19.58 and a beta of 0.65.

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

Lakeland Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.55%. Lakeland Financial’s payout ratio is 49.87%.

Insider Activity

In other news, SVP James Rickard Donovan sold 800 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $65.42, for a total value of $52,336.00. Following the completion of the sale, the senior vice president now owns 9,568 shares of the company’s stock, valued at approximately $625,938.56. The trade was a 7.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Kristin Pruitt sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.06, for a total value of $804,720.00. Following the transaction, the president now owns 10,252 shares in the company, valued at approximately $687,499.12. The trade was a 53.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,950 shares of company stock valued at $1,162,383. Corporate insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods raised their target price on shares of Lakeland Financial from $64.00 to $65.00 and gave the company a “market perform” rating in a research note on Monday, July 29th.

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.