SG Americas Securities LLC purchased a new stake in shares of Lakeland Financial Corporation (NASDAQ:LKFN - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 5,512 shares of the financial services provider's stock, valued at approximately $328,000.
A number of other hedge funds also recently bought and sold shares of LKFN. Raymond James Financial Inc. purchased a new stake in Lakeland Financial during the fourth quarter valued at $23,111,000. First Trust Advisors LP increased its position in Lakeland Financial by 54.0% during the fourth quarter. First Trust Advisors LP now owns 307,242 shares of the financial services provider's stock valued at $21,126,000 after acquiring an additional 107,765 shares during the last quarter. Vanguard Group Inc. increased its position in Lakeland Financial by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 1,940,356 shares of the financial services provider's stock valued at $133,419,000 after acquiring an additional 100,001 shares during the last quarter. JPMorgan Chase & Co. increased its position in Lakeland Financial by 132.2% during the fourth quarter. JPMorgan Chase & Co. now owns 134,495 shares of the financial services provider's stock valued at $9,248,000 after acquiring an additional 76,562 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in Lakeland Financial by 9,426.1% during the first quarter. GAMMA Investing LLC now owns 64,492 shares of the financial services provider's stock valued at $3,833,000 after acquiring an additional 63,815 shares during the last quarter. Hedge funds and other institutional investors own 81.15% of the company's stock.
Lakeland Financial Trading Down 0.0%
Shares of NASDAQ LKFN traded down $0.01 during mid-day trading on Friday, reaching $61.39. The company had a trading volume of 684,314 shares, compared to its average volume of 141,905. The business's 50-day moving average is $59.00 and its 200-day moving average is $62.45. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.16. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 17.54 and a beta of 0.60. Lakeland Financial Corporation has a 52 week low of $50.00 and a 52 week high of $78.61.
Lakeland Financial (NASDAQ:LKFN - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The financial services provider reported $0.78 EPS for the quarter, missing analysts' consensus estimates of $0.87 by ($0.09). The company had revenue of $90.46 million during the quarter, compared to the consensus estimate of $63.54 million. Lakeland Financial had a return on equity of 12.71% and a net margin of 21.08%. During the same quarter in the previous year, the company posted $0.91 earnings per share. Equities analysts expect that Lakeland Financial Corporation will post 3.7 earnings per share for the current year.
Lakeland Financial Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Friday, April 25th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 3.26%. The ex-dividend date was Friday, April 25th. Lakeland Financial's payout ratio is 57.14%.
Insiders Place Their Bets
In other Lakeland Financial news, Director Melinda Jo Truex bought 8,309 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were bought at an average cost of $60.11 per share, for a total transaction of $499,453.99. Following the acquisition, the director now directly owns 16,507 shares in the company, valued at approximately $992,235.77. The trade was a 101.35% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 3.00% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on the stock. Hovde Group upgraded shares of Lakeland Financial from a "market perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods cut their price target on shares of Lakeland Financial from $69.00 to $65.00 and set a "market perform" rating on the stock in a report on Monday, April 28th.
Get Our Latest Stock Analysis on LKFN
About Lakeland Financial
(
Free Report)
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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