Atria Investments Inc decreased its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFN – Free Report) by 25.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,480 shares of the financial services provider’s stock after selling 1,218 shares during the period. Atria Investments Inc’s holdings in Lakeland Financial were worth $227,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James & Associates raised its holdings in shares of Lakeland Financial by 132.5% during the second quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock valued at $6,042,000 after acquiring an additional 55,975 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Lakeland Financial by 686.8% in the 2nd quarter. Renaissance Technologies LLC now owns 57,051 shares of the financial services provider’s stock worth $3,510,000 after purchasing an additional 49,800 shares in the last quarter. Squarepoint Ops LLC bought a new position in Lakeland Financial in the 2nd quarter worth $1,352,000. Aptus Capital Advisors LLC lifted its position in shares of Lakeland Financial by 24.8% in the 2nd quarter. Aptus Capital Advisors LLC now owns 65,224 shares of the financial services provider’s stock worth $4,013,000 after purchasing an additional 12,975 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Lakeland Financial by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock valued at $14,386,000 after purchasing an additional 12,846 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.
Analyst Ratings Changes
Separately, Keefe, Bruyette & Woods increased their price target on shares of Lakeland Financial from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.
Insider Buying and Selling at Lakeland Financial
In related news, President Kristin Pruitt sold 12,000 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.06, for a total value of $804,720.00. Following the transaction, the president now owns 10,252 shares in the company, valued at $687,499.12. The trade was a 53.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP James Rickard Donovan sold 800 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,336.00. Following the sale, the senior vice president now directly owns 9,568 shares in the company, valued at $625,938.56. This trade represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 16,950 shares of company stock valued at $1,162,383. Corporate insiders own 3.30% of the company’s stock.
Lakeland Financial Stock Up 2.4 %
NASDAQ LKFN opened at $75.38 on Friday. The stock’s 50 day moving average is $67.34 and its 200 day moving average is $64.68. The firm has a market capitalization of $1.92 billion, a PE ratio of 19.58 and a beta of 0.65. Lakeland Financial Co. has a twelve month low of $53.97 and a twelve month high of $78.31.
Lakeland Financial (NASDAQ:LKFN – Get Free Report) last announced its earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $106.94 million for the quarter, compared to analysts’ expectations of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same quarter in the previous year, the business posted $0.98 EPS. On average, research analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current year.
Lakeland Financial Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend 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.
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