Barclays PLC Grows Position in Lakeland Financial Co. (NASDAQ:LKFN)

Barclays PLC grew its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 130.5% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 50,960 shares of the financial services provider’s stock after purchasing an additional 28,851 shares during the period. Barclays PLC owned approximately 0.20% of Lakeland Financial worth $3,320,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in LKFN. nVerses Capital LLC acquired a new position in Lakeland Financial during the second quarter worth about $31,000. Fifth Third Bancorp increased its holdings in Lakeland Financial by 342.5% during 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 grew its position in shares of Lakeland Financial by 58.0% in the third quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 235 shares during the last quarter. Point72 DIFC Ltd purchased a new position in shares of Lakeland Financial during the 3rd quarter worth approximately $74,000. Finally, US Bancorp DE increased its position in Lakeland Financial by 72.2% during the third quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock worth $138,000 after buying an additional 890 shares in the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.

Lakeland Financial Stock Up 0.0 %

Shares of NASDAQ:LKFN opened at $68.90 on Tuesday. The company has a market capitalization of $1.76 billion, a P/E ratio of 17.90 and a beta of 0.67. Lakeland Financial Co. has a 52-week low of $57.45 and a 52-week high of $78.61. The stock’s fifty day simple moving average is $70.80 and its 200-day simple moving average is $66.39.

Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, topping 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 business had revenue of $106.94 million for the quarter, compared to analyst estimates of $59.90 million. During the same period last year, the company posted $0.98 EPS. On average, sell-side analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current year.

Lakeland Financial Dividend Announcement

The business 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. This represents a $1.92 annualized dividend and a dividend yield of 2.79%. 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 news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $73.50, for a total transaction of $290,986.50. Following the completion of the sale, the executive vice president now owns 32,475 shares in the company, valued at approximately $2,386,912.50. This represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 4,150 shares of company stock valued at $305,327. 3.30% of the stock is owned by corporate insiders.

Lakeland Financial 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.