Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 8.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,837 shares of the financial services provider’s stock after selling 355 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lakeland Financial were worth $250,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Raymond James & Associates increased its position in shares of Lakeland Financial by 132.5% in the 2nd quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock worth $6,042,000 after purchasing an additional 55,975 shares during the last quarter. Renaissance Technologies LLC increased its holdings in Lakeland Financial by 686.8% in the second quarter. Renaissance Technologies LLC now owns 57,051 shares of the financial services provider’s stock valued at $3,510,000 after buying an additional 49,800 shares during the last quarter. Squarepoint Ops LLC acquired a new stake in Lakeland Financial during the second quarter valued at approximately $1,352,000. Aptus Capital Advisors LLC lifted its holdings in Lakeland Financial by 24.8% during the 2nd quarter. Aptus Capital Advisors LLC now owns 65,224 shares of the financial services provider’s stock worth $4,013,000 after buying an additional 12,975 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of Lakeland Financial by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock worth $14,386,000 after acquiring an additional 12,846 shares in the last quarter. Institutional investors own 81.15% of the company’s stock.

Insider Buying and Selling

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $73.50, for a total value of $290,986.50. Following the sale, the executive vice president now directly owns 32,475 shares in the company, valued at approximately $2,386,912.50. This trade represents 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 link. Also, SVP James Rickard Donovan sold 800 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,336.00. Following the transaction, the senior vice president now owns 9,568 shares of the company’s stock, valued at $625,938.56. This represents a 7.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,950 shares of company stock valued at $357,663. Insiders own 3.30% of the company’s stock.

Lakeland Financial Trading Down 0.2 %

LKFN stock opened at $74.50 on Friday. The firm has a market cap of $1.90 billion, a P/E ratio of 19.35 and a beta of 0.65. The stock’s 50 day simple moving average is $67.90 and its 200 day simple moving average is $65.05. Lakeland Financial Co. has a 12-month low of $53.97 and a 12-month high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same period in the previous year, the business posted $0.98 EPS. On average, research analysts forecast that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Friday, October 25th. Lakeland Financial’s payout ratio is 49.87%.

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.