Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 14.1% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 84,347 shares of the financial services provider’s stock after selling 13,872 shares during the period. Raymond James & Associates owned approximately 0.33% of Lakeland Financial worth $5,493,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LKFN. nVerses Capital LLC increased its holdings in Lakeland Financial by 60.0% during the 3rd quarter. nVerses Capital LLC now owns 800 shares of the financial services provider’s stock worth $52,000 after purchasing an additional 300 shares during the last quarter. CX Institutional bought a new stake in shares of Lakeland Financial in the 3rd quarter valued at approximately $391,000. Inspire Investing LLC increased its holdings in shares of Lakeland Financial by 11.3% in the 3rd quarter. Inspire Investing LLC now owns 6,321 shares of the financial services provider’s stock valued at $412,000 after acquiring an additional 642 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Lakeland Financial by 58.0% in 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. Finally, Handelsbanken Fonder AB increased its holdings in shares of Lakeland Financial by 19.9% in the 3rd quarter. Handelsbanken Fonder AB now owns 6,030 shares of the financial services provider’s stock valued at $393,000 after acquiring an additional 1,000 shares during the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lakeland Financial

In other news, SVP James Rickard Donovan sold 800 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 9,568 shares of the company’s stock, valued at approximately $625,938.56. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, President Kristin Pruitt sold 12,000 shares of the stock in a transaction 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 completion of the transaction, the president now owns 10,252 shares of the company’s stock, valued at approximately $687,499.12. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP James Rickard Donovan sold 800 shares of the stock in a transaction on 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 transaction, the senior vice president now directly owns 9,568 shares of the company’s stock, valued at approximately $625,938.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.30% of the company’s stock.

Analyst Ratings Changes

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

Lakeland Financial Price Performance

Shares of NASDAQ LKFN opened at $65.05 on Friday. Lakeland Financial Co. has a 1-year low of $48.85 and a 1-year high of $73.22. The business’s fifty day moving average price is $65.50 and its two-hundred day moving average price is $63.40. The firm has a market capitalization of $1.66 billion, a PE ratio of 16.90 and a beta of 0.65.

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 firm 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 earned $0.98 earnings per share. Equities research analysts expect that Lakeland Financial Co. will post 3.4 earnings per share for the current fiscal year.

Lakeland Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be paid a $0.48 dividend. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.92 annualized dividend and a dividend yield of 2.95%. Lakeland Financial’s payout ratio is 49.87%.

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.