Kessler Investment Group LLC Boosts Holdings in Lakeland Financial Co. (LKFN)

Kessler Investment Group LLC raised its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 32.1% during the 1st quarter, HoldingsChannel reports. The fund owned 4,499 shares of the financial services provider’s stock after acquiring an additional 1,094 shares during the period. Kessler Investment Group LLC’s holdings in Lakeland Financial were worth $203,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Quantamental Technologies LLC bought a new stake in shares of Lakeland Financial in the 4th quarter worth approximately $48,000. Clean Yield Group bought a new stake in shares of Lakeland Financial in the 4th quarter worth approximately $60,000. CKW Financial Group boosted its position in shares of Lakeland Financial by 150.1% in the 4th quarter. CKW Financial Group now owns 2,931 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,759 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Lakeland Financial by 13.8% in the 4th quarter. Legal & General Group Plc now owns 4,356 shares of the financial services provider’s stock worth $175,000 after purchasing an additional 529 shares in the last quarter. Finally, CIBC Private Wealth Group LLC bought a new stake in shares of Lakeland Financial in the 4th quarter worth approximately $201,000. 71.65% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have recently commented on LKFN. BidaskClub raised Lakeland Financial from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Zacks Investment Research raised Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Tuesday, January 22nd. Finally, ValuEngine raised Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Friday, January 25th. Five research analysts have rated the stock with a hold rating, Lakeland Financial has a consensus rating of “Hold” and an average price target of $52.50.

In related news, Director Thomas Hiatt bought 2,100 shares of the company’s stock in a transaction dated Thursday, February 7th. The shares were acquired at an average price of $45.66 per share, for a total transaction of $95,886.00. Following the completion of the transaction, the director now directly owns 20,291 shares in the company, valued at $926,487.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jonathan P. Steiner sold 1,991 shares of Lakeland Financial stock in a transaction dated Wednesday, February 6th. The shares were sold at an average price of $45.19, for a total transaction of $89,973.29. Following the completion of the sale, the senior vice president now owns 9,375 shares in the company, valued at approximately $423,656.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,439 shares of company stock valued at $665,431. 4.60% of the stock is owned by company insiders.

Shares of LKFN traded up $0.06 during mid-day trading on Tuesday, reaching $47.68. The company had a trading volume of 565 shares, compared to its average volume of 88,973. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. Lakeland Financial Co. has a 52 week low of $37.79 and a 52 week high of $51.25. The stock has a market cap of $1.22 billion, a P/E ratio of 15.23, a P/E/G ratio of 1.46 and a beta of 0.92.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. Lakeland Financial had a return on equity of 16.24% and a net margin of 33.63%. The firm had revenue of $49.70 million for the quarter, compared to analysts’ expectations of $48.48 million. On average, equities analysts anticipate that Lakeland Financial Co. will post 3.3 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 25th will be issued a $0.30 dividend. This is a positive change from Lakeland Financial’s previous quarterly dividend of $0.26. This represents a $1.20 dividend on an annualized basis and a yield of 2.52%. The ex-dividend date is Wednesday, April 24th. Lakeland Financial’s payout ratio is presently 33.23%.

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About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

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

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