Lakeland Financial Corporation (LKFN) Position Raised by Vanguard Group Inc.

Vanguard Group Inc. increased its position in shares of Lakeland Financial Corporation (NASDAQ:LKFN) by 2.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,081,120 shares of the financial services provider’s stock after purchasing an additional 25,465 shares during the quarter. Vanguard Group Inc. owned 4.32% of Lakeland Financial Corporation worth $49,602,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN lifted its holdings in shares of Lakeland Financial Corporation by 7.6% in 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 during the last quarter. Franklin Resources Inc. lifted its holdings in shares of Lakeland Financial Corporation by 1.7% in 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 during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of Lakeland Financial Corporation by 4.2% in 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 during the last quarter. Menta Capital LLC bought a new position in shares of Lakeland Financial Corporation in the second quarter worth about $1,051,000. Finally, Dimensional Fund Advisors LP lifted its holdings in shares of Lakeland Financial Corporation by 2.8% in 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 acquiring an additional 28,198 shares during the last quarter. 69.37% of the stock is owned by hedge funds and other institutional investors.

Lakeland Financial Corporation (LKFN) opened at $48.50 on Friday. The company has a market cap of $1,213.81, a PE ratio of 20.91, a PEG ratio of 2.03 and a beta of 0.83. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.07. Lakeland Financial Corporation has a fifty-two week low of $35.31 and a fifty-two week high of $50.00.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. Lakeland Financial Corporation had a net margin of 30.67% and a return on equity of 13.51%. The firm had revenue of $44.12 million during the quarter, compared to analysts’ expectations of $43.91 million. equities research analysts forecast that Lakeland Financial Corporation will post 2.38 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Wednesday, October 25th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.81%. The ex-dividend date is Tuesday, October 24th. Lakeland Financial Corporation’s dividend payout ratio is currently 37.93%.

LKFN has been the subject of a number of research reports. Zacks Investment Research raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Monday, September 4th. ValuEngine raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. 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 equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.00.

In other news, insider Batty Jill A. De sold 800 shares of the company’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $43.31, for a total value of $34,648.00. Following the completion of the transaction, the insider now owns 8,132 shares of the company’s stock, valued at $352,196.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric H. Ottinger sold 1,899 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $46.28, for a total value of $87,885.72. Following the completion of the transaction, the insider now directly owns 21,500 shares of the company’s stock, valued at approximately $995,020. The disclosure for this sale can be found here. In the last ninety days, insiders bought 10,613 shares of company stock valued at $447,131 and sold 3,149 shares valued at $142,334. Corporate insiders own 5.00% of the company’s stock.

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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.

Institutional Ownership by Quarter for Lakeland Financial Corporation (NASDAQ:LKFN)

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