Lakeland Financial Co. (NASDAQ:LKFN) Holdings Reduced by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 13.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 45,724 shares of the financial services provider’s stock after selling 6,985 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.18% of Lakeland Financial worth $2,978,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 in the last quarter. Dimensional Fund Advisors LP lifted its position in Lakeland Financial by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider’s stock worth $50,232,000 after purchasing an additional 11,118 shares during the period. Eagle Asset Management Inc. boosted its stake in Lakeland Financial by 29.5% during 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. Envestnet Asset Management Inc. increased its position in shares of Lakeland Financial by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock valued at $14,386,000 after purchasing an additional 12,846 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in shares of Lakeland Financial by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider’s stock worth $14,327,000 after buying an additional 684 shares in the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lakeland Financial

In other news, EVP Eric H. Ottinger sold 3,959 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $73.50, for a total transaction of $290,986.50. Following the completion of the sale, the executive vice president now owns 32,475 shares in the company, valued at $2,386,912.50. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 4,150 shares of company stock valued at $305,327. 3.30% of the stock is owned by insiders.

Lakeland Financial Price Performance

Shares of LKFN opened at $72.76 on Friday. Lakeland Financial Co. has a one year low of $57.45 and a one year high of $78.61. The stock has a market cap of $1.86 billion, a price-to-earnings ratio of 18.90 and a beta of 0.67. The company has a 50-day moving average of $69.73 and a two-hundred day moving average of $65.85.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share (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 business had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. During the same period in the previous year, the company earned $0.98 EPS. 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 declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.64%. The ex-dividend date of this dividend was Friday, October 25th. 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.