Avior Wealth Management LLC lessened its stake in Lakeland Financial Co. (NASDAQ:LKFN – Free Report) by 39.0% in the fourth quarter, Holdings Channel reports. The firm owned 3,900 shares of the financial services provider’s stock after selling 2,497 shares during the quarter. Avior Wealth Management LLC’s holdings in Lakeland Financial were worth $268,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of the company. State Street Corp raised its position in shares of Lakeland Financial by 2.2% in the 3rd quarter. State Street Corp now owns 1,276,929 shares of the financial services provider’s stock valued at $83,154,000 after buying an additional 27,556 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lakeland Financial by 3.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 902,968 shares of the financial services provider’s stock valued at $58,801,000 after acquiring an additional 27,214 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Lakeland Financial by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider’s stock valued at $50,232,000 after purchasing an additional 11,118 shares in the last quarter. Geode Capital Management LLC lifted its stake in Lakeland Financial by 0.9% during the third quarter. Geode Capital Management LLC now owns 605,007 shares of the financial services provider’s stock worth $39,406,000 after purchasing an additional 5,562 shares during the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in shares of Lakeland Financial by 29.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider’s stock valued at $16,289,000 after purchasing an additional 56,928 shares in the last quarter. Institutional investors own 81.15% of the company’s stock.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods reissued a “market perform” rating and set a $74.00 price target (up previously from $73.00) on shares of Lakeland Financial in a report on Monday.
Insider Buying and Selling
In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 32,475 shares in the company, valued at approximately $2,386,912.50. This represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders have sold 4,150 shares of company stock worth $305,327 in the last 90 days. Insiders own 3.30% of the company’s stock.
Lakeland Financial Trading Up 0.5 %
LKFN stock opened at $69.54 on Tuesday. The firm has a 50-day moving average price of $70.73 and a 200-day moving average price of $67.77. Lakeland Financial Co. has a 12 month low of $57.45 and a 12 month high of $78.61. The stock has a market capitalization of $1.77 billion, a P/E ratio of 18.06 and a beta of 0.69.
Lakeland Financial (NASDAQ:LKFN – Get Free Report) last issued its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. As a group, equities analysts predict that Lakeland Financial Co. will post 3.43 EPS for the current fiscal year.
Lakeland Financial Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Saturday, January 25th will be issued a dividend of $0.50 per share. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 24th. This represents a $2.00 annualized dividend and a dividend yield of 2.88%. Lakeland Financial’s dividend payout ratio (DPR) is 55.10%.
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.
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