Lakeland Financial Co. (NASDAQ:LKFN) Stock Position Lessened by Uncommon Cents Investing LLC

Uncommon Cents Investing LLC reduced its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 5.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,076 shares of the financial services provider’s stock after selling 994 shares during the quarter. Uncommon Cents Investing LLC owned about 0.06% of Lakeland Financial worth $1,047,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of LKFN. Public Employees Retirement System of Ohio boosted its stake in Lakeland Financial by 47.6% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 431 shares of the financial services provider’s stock valued at $31,000 after purchasing an additional 139 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Lakeland Financial by 0.7% during the fourth quarter. Squarepoint Ops LLC now owns 22,306 shares of the financial services provider’s stock valued at $1,628,000 after buying an additional 155 shares in the last quarter. Bessemer Group Inc. grew its holdings in Lakeland Financial by 78.9% during the fourth quarter. Bessemer Group Inc. now owns 381 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 168 shares during the period. Captrust Financial Advisors raised its position in Lakeland Financial by 45.3% in the second quarter. Captrust Financial Advisors now owns 542 shares of the financial services provider’s stock worth $36,000 after acquiring an additional 169 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Lakeland Financial by 6.2% in the 1st quarter. Raymond James & Associates now owns 3,075 shares of the financial services provider’s stock valued at $224,000 after acquiring an additional 179 shares during the last quarter. Institutional investors and hedge funds own 81.15% of the company’s stock.

Lakeland Financial Stock Up 1.5 %

Shares of NASDAQ:LKFN opened at $66.32 on Friday. Lakeland Financial Co. has a 52 week low of $43.05 and a 52 week high of $73.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.88 and a current ratio of 0.88. The company has a market cap of $1.72 billion, a PE ratio of 18.17 and a beta of 0.67. The firm has a 50 day simple moving average of $65.03 and a 200 day simple moving average of $58.62.

Lakeland Financial (NASDAQ:LKFN) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Lakeland Financial had a return on equity of 14.89% and a net margin of 23.85%. The company had revenue of $65.81 million during the quarter, compared to analyst estimates of $59.81 million. During the same quarter in the prior year, the company earned $1.01 earnings per share. As a group, research analysts expect that Lakeland Financial Co. will post 3.49 earnings per share for the current year.

Lakeland Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Thursday, January 25th were paid a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 2.90%. The ex-dividend date of this dividend was Wednesday, January 24th. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.46. Lakeland Financial’s payout ratio is 52.60%.

Analysts Set New Price Targets

Several research analysts have issued reports on LKFN shares. TheStreet raised Lakeland Financial from a “c+” rating to a “b-” rating in a report on Monday, December 4th. Stephens boosted their target price on Lakeland Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. Finally, Raymond James increased their price target on Lakeland Financial from $60.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, January 26th.

Insider Activity

In other Lakeland Financial news, SVP Stephanie R. Leniski sold 2,560 shares of the stock in a transaction that occurred on Wednesday, February 7th. The shares were sold at an average price of $63.17, for a total value of $161,715.20. Following the completion of the sale, the senior vice president now owns 4,270 shares in the company, valued at approximately $269,735.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Lakeland Financial news, SVP Stephanie R. Leniski sold 2,560 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $63.17, for a total value of $161,715.20. Following the transaction, the senior vice president now owns 4,270 shares in the company, valued at $269,735.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Michael L. Kubacki sold 26,600 shares of the company’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $71.51, for a total value of $1,902,166.00. Following the completion of the transaction, the director now directly owns 39,800 shares in the company, valued at $2,846,098. The disclosure for this sale can be found here. Insiders have sold 53,728 shares of company stock worth $3,670,449 in the last 90 days. Company insiders own 3.30% of the company’s stock.

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.