GSA Capital Partners LLP Acquires 10,685 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

GSA Capital Partners LLP increased its holdings in Lakeland Financial Co. (NASDAQ:LKFN) by 215.2% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 15,649 shares of the financial services provider’s stock after purchasing an additional 10,685 shares during the quarter. GSA Capital Partners LLP’s holdings in Lakeland Financial were worth $1,019,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Rosenthal Henry Capital Advisors Inc. raised its position in shares of Lakeland Financial by 2.3% in the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 45,955 shares of the financial services provider’s stock worth $2,993,000 after acquiring an additional 1,025 shares in the last quarter. US Bancorp DE grew its stake in Lakeland Financial by 72.2% in the third quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 890 shares during the last quarter. Sippican Capital Advisors raised its holdings in Lakeland Financial by 21.3% in the third quarter. Sippican Capital Advisors now owns 18,931 shares of the financial services provider’s stock worth $1,233,000 after purchasing an additional 3,330 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in Lakeland Financial by 12.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,551 shares of the financial services provider’s stock worth $998,000 after purchasing an additional 1,709 shares in the last quarter. Finally, Everence Capital Management Inc. purchased a new stake in shares of Lakeland Financial during the third quarter valued at about $201,000. Institutional investors own 81.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price objective on shares of Lakeland Financial from $64.00 to $65.00 and gave the stock a “market perform” rating in a research report on Monday, July 29th.

Insider Activity at Lakeland Financial

In related news, SVP James Rickard Donovan sold 800 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now owns 9,568 shares in the company, valued at $625,938.56. This represents a 7.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Kristin Pruitt sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.06, for a total transaction of $804,720.00. Following the transaction, the president now directly owns 10,252 shares of the company’s stock, valued at $687,499.12. This represents a 53.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,950 shares of company stock valued at $868,383 in the last ninety days. Company insiders own 3.30% of the company’s stock.

Lakeland Financial Price Performance

Lakeland Financial stock opened at $73.22 on Friday. The business has a fifty day moving average price of $66.26 and a 200-day moving average price of $64.15. Lakeland Financial Co. has a 1-year low of $53.97 and a 1-year high of $78.31. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of 19.02 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly 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. The business had revenue of $106.94 million during the quarter, compared to the consensus estimate of $59.90 million. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. During the same quarter last year, the company earned $0.98 earnings per share. On average, equities research analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current fiscal year.

Lakeland Financial Announces Dividend

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 dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Friday, October 25th. Lakeland Financial’s dividend payout ratio (DPR) is presently 49.87%.

Lakeland Financial Company 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.