Stifel Financial Corp Has $4.32 Million Stock Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

Stifel Financial Corp increased its stake in Lakeland Financial Co. (NASDAQ:LKFN) by 7.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 66,295 shares of the financial services provider’s stock after acquiring an additional 4,315 shares during the quarter. Stifel Financial Corp owned about 0.26% of Lakeland Financial worth $4,317,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Raymond James & Associates boosted its position in 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 during the last quarter. Fifth Third Bancorp boosted its position in shares of Lakeland Financial by 342.5% during the 2nd quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 459 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Lakeland Financial by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the financial services provider’s stock worth $787,000 after purchasing an additional 200 shares during the period. First Merchants Corp bought a new stake in Lakeland Financial in the second quarter worth approximately $215,000. Finally, Bank of New York Mellon Corp lifted its stake in Lakeland Financial by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider’s stock valued at $14,327,000 after buying an additional 684 shares during the period. 81.15% of the stock is currently owned by institutional investors.

Insider Activity

In related news, EVP Eric H. Ottinger sold 3,959 shares of the company’s stock in a transaction dated 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 owns 32,475 shares in the company, valued at $2,386,912.50. This represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold a total of 4,150 shares of company stock worth $305,327 over the last quarter. 3.30% of the stock is currently owned by corporate insiders.

Lakeland Financial Stock Down 0.4 %

Shares of LKFN stock opened at $72.76 on Monday. Lakeland Financial Co. has a 52 week low of $57.45 and a 52 week high of $78.61. The firm has a 50 day moving average of $69.92 and a 200-day moving average of $66.01. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 18.90 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $106.94 million during the quarter, compared to the consensus estimate of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same period in the previous year, the firm posted $0.98 earnings per share. Analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current year.

Lakeland Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were paid a $0.48 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a yield of 2.64%. Lakeland Financial’s dividend payout ratio (DPR) is presently 49.87%.

About Lakeland Financial

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.