Quest Partners LLC Grows Stock Position in Lakeland Financial Co. (NASDAQ:LKFN)

Quest Partners LLC boosted its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 33,337.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,675 shares of the financial services provider’s stock after buying an additional 2,667 shares during the quarter. Quest Partners LLC’s holdings in Lakeland Financial were worth $174,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of LKFN. Louisiana State Employees Retirement System lifted its holdings in shares of Lakeland Financial by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the financial services provider’s stock worth $787,000 after acquiring an additional 200 shares during the last quarter. GAMMA Investing LLC raised its position in Lakeland Financial by 58.0% in the 3rd quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 235 shares during the period. Inspire Investing LLC raised its position in Lakeland Financial by 5.1% in the 2nd quarter. Inspire Investing LLC now owns 5,679 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 277 shares during the period. Arizona State Retirement System lifted its stake in Lakeland Financial by 4.0% in the second quarter. Arizona State Retirement System now owns 7,269 shares of the financial services provider’s stock worth $447,000 after purchasing an additional 280 shares during the last quarter. Finally, nVerses Capital LLC boosted its position in shares of Lakeland Financial by 60.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the financial services provider’s stock valued at $52,000 after buying an additional 300 shares during the period. Institutional investors own 81.15% of the company’s stock.

Lakeland Financial Stock Performance

Shares of NASDAQ LKFN opened at $74.50 on Thursday. Lakeland Financial Co. has a fifty-two week low of $53.97 and a fifty-two week high of $78.61. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 19.35 and a beta of 0.65. The business’s 50 day moving average price is $67.81 and its 200-day moving average price is $64.98.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. The company had revenue of $106.94 million for the quarter, compared to the consensus estimate of $59.90 million. During the same quarter in the prior year, the company posted $0.98 EPS. Sell-side analysts predict that Lakeland Financial Co. will post 3.42 earnings per share for the current year.

Lakeland Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.58%. The ex-dividend date was Friday, October 25th. Lakeland Financial’s dividend payout ratio is presently 49.87%.

Insider Activity at Lakeland Financial

In other Lakeland Financial news, SVP James Rickard Donovan sold 800 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,336.00. Following the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction on Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the sale, the executive vice president now directly owns 32,475 shares of the company’s stock, valued at approximately $2,386,912.50. This trade represents a 10.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,950 shares of company stock worth $357,663 in the last 90 days. 3.30% of the stock is owned by corporate insiders.

Lakeland Financial 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.