9,458 Shares in Lakeland Financial Co. (NASDAQ:LKFN) Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 9,458 shares of the financial services provider’s stock, valued at approximately $616,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Prospera Private Wealth LLC acquired a new stake in shares of Lakeland Financial during the third quarter worth approximately $352,000. Quest Partners LLC grew its holdings in Lakeland Financial by 33,337.5% during the 3rd quarter. Quest Partners LLC now owns 2,675 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 2,667 shares in the last quarter. Aptus Capital Advisors LLC increased its position in shares of Lakeland Financial by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 75,418 shares of the financial services provider’s stock worth $4,911,000 after purchasing an additional 10,194 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Lakeland Financial in the 3rd quarter valued at about $222,000. Finally, GSA Capital Partners LLP lifted its position in shares of Lakeland Financial by 215.2% during the third quarter. GSA Capital Partners LLP now owns 15,649 shares of the financial services provider’s stock worth $1,019,000 after purchasing an additional 10,685 shares during the last quarter. 81.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction on Monday, November 18th. The stock was 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 $2,386,912.50. This trade represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP James Rickard Donovan sold 800 shares of the firm’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $65.42, for a total value of $52,336.00. Following the completion of the sale, the senior vice president now owns 9,568 shares in the company, valued at $625,938.56. The trade was a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,950 shares of company stock worth $357,663. 3.30% of the stock is currently owned by company insiders.

Lakeland Financial Stock Down 0.2 %

Shares of Lakeland Financial stock opened at $74.50 on Friday. The business has a 50-day moving average price of $67.90 and a 200 day moving average price of $65.05. Lakeland Financial Co. has a fifty-two week low of $53.97 and a fifty-two week high of $78.61. The firm has a market cap of $1.90 billion, a P/E ratio of 19.35 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last released its 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. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The firm had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. During the same quarter in the previous year, the firm earned $0.98 earnings per share. As a group, equities 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 announced a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were issued 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 2.58%. Lakeland Financial’s dividend payout ratio is currently 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.