State Street Corp Grows Stock Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

State Street Corp lifted its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 2.2% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,276,929 shares of the financial services provider’s stock after buying an additional 27,556 shares during the quarter. State Street Corp owned approximately 0.05% of Lakeland Financial worth $83,154,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. nVerses Capital LLC purchased a new position in shares of Lakeland Financial during the 2nd quarter valued at $31,000. Fifth Third Bancorp lifted its stake in Lakeland Financial by 342.5% in the 2nd quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its stake 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 in the last quarter. Point72 DIFC Ltd purchased a new stake in Lakeland Financial in the 3rd quarter worth $74,000. Finally, US Bancorp DE lifted its stake in Lakeland Financial by 72.2% in the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock worth $138,000 after purchasing an additional 890 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Insider Transactions at Lakeland Financial

In other news, EVP Eric H. Ottinger sold 3,959 shares of the business’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 directly owns 32,475 shares in the company, valued at $2,386,912.50. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Insiders have sold a total of 4,150 shares of company stock worth $305,327 in the last three months. Insiders own 3.30% of the company’s stock.

Lakeland Financial Stock Up 1.3 %

Shares of LKFN stock opened at $73.72 on Tuesday. The stock has a market cap of $1.88 billion, a P/E ratio of 19.02 and a beta of 0.67. Lakeland Financial Co. has a 52 week low of $57.45 and a 52 week high of $78.61. The company’s fifty day simple moving average is $69.92 and its two-hundred day simple moving average is $66.01.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. The business 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 company earned $0.98 EPS. On average, analysts anticipate that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.60%. Lakeland Financial’s dividend payout ratio (DPR) is presently 49.87%.

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.