Tudor Investment Corp ET AL Has $1.88 Million Stock Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

Tudor Investment Corp ET AL decreased its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 33.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 27,345 shares of the financial services provider's stock after selling 13,731 shares during the quarter. Tudor Investment Corp ET AL owned about 0.11% of Lakeland Financial worth $1,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in LKFN. R Squared Ltd acquired a new position in shares of Lakeland Financial during the 4th quarter worth approximately $50,000. Sterling Capital Management LLC increased its holdings in shares of Lakeland Financial by 809.9% in the fourth quarter. Sterling Capital Management LLC now owns 737 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 656 shares during the last quarter. VisionPoint Advisory Group LLC bought a new position in shares of Lakeland Financial in the fourth quarter valued at about $53,000. KBC Group NV lifted its stake in shares of Lakeland Financial by 62.3% during the 4th quarter. KBC Group NV now owns 1,672 shares of the financial services provider's stock worth $115,000 after buying an additional 642 shares during the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Lakeland Financial by 18.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,062 shares of the financial services provider's stock worth $142,000 after buying an additional 326 shares during the period. Institutional investors own 81.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on LKFN. Keefe, Bruyette & Woods dropped their price target on Lakeland Financial from $69.00 to $65.00 and set a "market perform" rating for the company in a report on Monday, April 28th. Hovde Group raised shares of Lakeland Financial from a "market perform" rating to an "outperform" rating and set a $72.00 target price for the company in a research report on Tuesday.

Lakeland Financial Stock Performance

Shares of NASDAQ LKFN traded down $0.30 during midday trading on Friday, reaching $59.63. The company's stock had a trading volume of 66,917 shares, compared to its average volume of 136,358. Lakeland Financial Co. has a fifty-two week low of $50.00 and a fifty-two week high of $78.61. The company has a market cap of $1.52 billion, a P/E ratio of 16.43 and a beta of 0.58. The business's 50 day moving average price is $57.68 and its two-hundred day moving average price is $65.39.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last issued its earnings results on Friday, April 25th. The financial services provider reported $0.78 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.09). The business had revenue of $90.46 million for the quarter, compared to analyst estimates of $63.54 million. Lakeland Financial had a return on equity of 13.31% and a net margin of 21.74%. During the same period in the previous year, the firm posted $0.91 EPS. Sell-side analysts forecast that Lakeland Financial Co. will post 3.7 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Friday, April 25th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, April 25th. This represents a $2.00 annualized dividend and a dividend yield of 3.35%. Lakeland Financial's dividend payout ratio (DPR) is presently 57.14%.

Insider Activity

In other news, SVP Donald Robinson-Gay sold 550 shares of Lakeland Financial stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $36,437.50. Following the sale, the senior vice president now directly owns 4,974 shares of the company's stock, valued at approximately $329,527.50. This trade represents a 9.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephanie R. Leniski sold 1,500 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $61.94, for a total transaction of $92,910.00. Following the completion of the transaction, the executive vice president now owns 6,211 shares of the company's stock, valued at approximately $384,709.34. This trade represents a 19.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by corporate insiders.

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.