Lakeland Financial Corporation $LKFN Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp reduced its position in Lakeland Financial Corporation (NASDAQ:LKFN) by 11.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 303,942 shares of the financial services provider’s stock after selling 40,377 shares during the period. Boston Trust Walden Corp’s holdings in Lakeland Financial were worth $17,440,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the business. Osaic Holdings Inc. boosted its position in shares of Lakeland Financial by 186.0% in the 2nd quarter. Osaic Holdings Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 305 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in Lakeland Financial by 1,212.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $39,000 after buying an additional 582 shares in the last quarter. Rockefeller Capital Management L.P. raised its stake in Lakeland Financial by 40.5% in the fourth quarter. Rockefeller Capital Management L.P. now owns 729 shares of the financial services provider’s stock valued at $42,000 after buying an additional 210 shares during the last quarter. Global Retirement Partners LLC raised its stake in Lakeland Financial by 118.9% in the fourth quarter. Global Retirement Partners LLC now owns 996 shares of the financial services provider’s stock valued at $57,000 after buying an additional 541 shares during the last quarter. Finally, State of Wyoming boosted its holdings in Lakeland Financial by 16.7% in the fourth quarter. State of Wyoming now owns 2,431 shares of the financial services provider’s stock worth $139,000 after acquiring an additional 348 shares in the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.

Lakeland Financial Stock Performance

Shares of NASDAQ:LKFN opened at $62.40 on Friday. Lakeland Financial Corporation has a twelve month low of $54.36 and a twelve month high of $69.40. The company’s 50 day moving average is $60.47 and its 200 day moving average is $59.48. The company has a market cap of $1.55 billion, a PE ratio of 14.61 and a beta of 0.73.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Monday, April 27th. The financial services provider reported $1.04 EPS for the quarter, beating the consensus estimate of $1.01 by $0.03. The business had revenue of $69.71 million during the quarter, compared to analysts’ expectations of $70.42 million. Lakeland Financial had a net margin of 25.81% and a return on equity of 14.79%. During the same period in the previous year, the business posted $0.78 EPS. Equities research analysts predict that Lakeland Financial Corporation will post 4.3 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 5th. Shareholders of record on Saturday, April 25th were issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 3.3%. The ex-dividend date of this dividend was Friday, April 24th. Lakeland Financial’s dividend payout ratio is presently 48.71%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, Director Bradley J. Toothaker sold 5,900 shares of the stock in a transaction dated Friday, May 29th. The stock was sold at an average price of $60.62, for a total transaction of $357,658.00. Following the sale, the director directly owned 14,278 shares of the company’s stock, valued at approximately $865,532.36. This trade represents a 29.24% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Steven D. Ross sold 1,281 shares of the company’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $62.50, for a total value of $80,062.50. Following the completion of the sale, the director owned 27,001 shares in the company, valued at $1,687,562.50. The trade was a 4.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 9,336 shares of company stock valued at $570,251. 3.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on LKFN. Weiss Ratings upgraded shares of Lakeland Financial from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Wall Street Zen raised shares of Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Sunday, April 19th. Finally, Hovde Group upped their price target on shares of Lakeland Financial from $63.00 to $66.00 and gave the company a “market perform” rating in a research note on Tuesday, April 28th. One research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Lakeland Financial currently has a consensus rating of “Hold” and a consensus price target of $66.50.

About Lakeland Financial

Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.

Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.