Marshall Wace LLP Invests $3.14 Million in Lakeland Financial Co. (LKFN) Stock

Marshall Wace LLP acquired a new stake in Lakeland Financial Co. (NASDAQ:LKFN) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 67,536 shares of the financial services provider’s stock, valued at approximately $3,139,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. United Services Automobile Association acquired a new stake in Lakeland Financial in the 2nd quarter valued at about $202,000. Capital Fund Management S.A. acquired a new stake in Lakeland Financial in the 3rd quarter valued at about $251,000. Engineers Gate Manager LP acquired a new stake in Lakeland Financial in the 3rd quarter valued at about $358,000. WINTON GROUP Ltd grew its stake in Lakeland Financial by 14.0% in the 3rd quarter. WINTON GROUP Ltd now owns 10,005 shares of the financial services provider’s stock valued at $465,000 after acquiring an additional 1,226 shares during the last quarter. Finally, BlueMountain Capital Management LLC grew its stake in Lakeland Financial by 52.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 10,369 shares of the financial services provider’s stock valued at $500,000 after acquiring an additional 3,547 shares during the last quarter. 70.95% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts have issued reports on LKFN shares. BidaskClub lowered shares of Lakeland Financial from a “hold” rating to a “sell” rating in a report on Thursday, August 30th. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $47.00 target price on the stock in a report on Wednesday, October 31st. ValuEngine lowered shares of Lakeland Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Boenning Scattergood restated a “hold” rating on shares of Lakeland Financial in a report on Friday, October 26th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Lakeland Financial has an average rating of “Hold” and a consensus price target of $49.00.

In other news, Director M Scott Welch bought 2,000 shares of Lakeland Financial stock in a transaction on Wednesday, October 31st. The shares were bought at an average cost of $43.61 per share, for a total transaction of $87,220.00. Following the acquisition, the director now owns 136,448 shares in the company, valued at $5,950,497.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kevin L. Deardorff bought 5,582 shares of Lakeland Financial stock in a transaction on Friday, December 14th. The stock was purchased at an average price of $41.47 per share, for a total transaction of $231,485.54. Following the completion of the acquisition, the insider now owns 42,015 shares in the company, valued at approximately $1,742,362.05. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 32,456 shares of company stock worth $1,376,023. 4.40% of the stock is owned by insiders.

NASDAQ:LKFN opened at $41.20 on Friday. The stock has a market capitalization of $1.04 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.33 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. Lakeland Financial Co. has a 12-month low of $39.41 and a 12-month high of $51.76.

Lakeland Financial (NASDAQ:LKFN) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.02. The company had revenue of $48.36 million for the quarter, compared to analyst estimates of $48.60 million. Lakeland Financial had a net margin of 30.88% and a return on equity of 15.54%. Analysts forecast that Lakeland Financial Co. will post 3.09 earnings per share for the current year.

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Lakeland Financial Profile

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

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

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