Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by 1ST Source Bank

1ST Source Bank decreased its position in Lakeland Financial Co. (NASDAQ:LKFN) by 1.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 48,744 shares of the financial services provider’s stock after selling 790 shares during the quarter. 1ST Source Bank’s holdings in Lakeland Financial were worth $3,174,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of LKFN. Raymond James & Associates raised its holdings in Lakeland Financial by 132.5% during the second quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock worth $6,042,000 after purchasing an additional 55,975 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Lakeland Financial by 342.5% in the 2nd quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider’s stock valued at $36,000 after purchasing an additional 459 shares during the last quarter. Louisiana State Employees Retirement System raised its stake in shares of Lakeland Financial by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the financial services provider’s stock valued at $787,000 after acquiring an additional 200 shares during the period. First Merchants Corp acquired a new position in Lakeland Financial in the 2nd quarter worth $215,000. 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 valued at $14,327,000 after purchasing an additional 684 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the transaction, the executive vice president now directly owns 32,475 shares of the company’s stock, valued at $2,386,912.50. This represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders sold 4,150 shares of company stock worth $305,327. 3.30% of the stock is currently owned by corporate insiders.

Lakeland Financial Stock Up 0.0 %

LKFN stock traded up $0.03 during mid-day trading on Friday, reaching $73.05. The company had a trading volume of 10,532 shares, compared to its average volume of 113,925. The stock has a market capitalization of $1.86 billion, a P/E ratio of 18.97 and a beta of 0.67. The stock’s 50-day simple moving average is $69.73 and its two-hundred day simple moving average is $65.85. Lakeland Financial Co. has a one year low of $57.45 and a one year high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The company had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. During the same quarter last year, the business posted $0.98 EPS. On average, research analysts forecast that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a yield of 2.63%. Lakeland Financial’s dividend payout ratio is 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.