Lakeland Financial Co. (NASDAQ:LKFN) Shares Purchased by Synovus Financial Corp

Synovus Financial Corp increased its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFNGet Rating) by 3.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,628 shares of the financial services provider’s stock after acquiring an additional 174 shares during the period. Synovus Financial Corp’s holdings in Lakeland Financial were worth $311,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Tower View Investment Management & Research LLC acquired a new position in Lakeland Financial during the second quarter worth $27,000. Nisa Investment Advisors LLC grew its holdings in Lakeland Financial by 70.4% during the second quarter. Nisa Investment Advisors LLC now owns 484 shares of the financial services provider’s stock worth $32,000 after acquiring an additional 200 shares during the period. First Horizon Advisors Inc. grew its holdings in Lakeland Financial by 2,390.2% during the second quarter. First Horizon Advisors Inc. now owns 1,519 shares of the financial services provider’s stock worth $100,000 after acquiring an additional 1,458 shares during the period. KBC Group NV acquired a new position in Lakeland Financial during the second quarter worth $138,000. Finally, SG Americas Securities LLC grew its holdings in Lakeland Financial by 29.9% during the first quarter. SG Americas Securities LLC now owns 2,593 shares of the financial services provider’s stock worth $189,000 after acquiring an additional 597 shares during the period. Institutional investors and hedge funds own 81.26% of the company’s stock.

Lakeland Financial Stock Performance

Lakeland Financial stock opened at $76.26 on Monday. The firm has a market capitalization of $1.93 billion, a price-to-earnings ratio of 19.16 and a beta of 0.78. Lakeland Financial Co. has a fifty-two week low of $64.05 and a fifty-two week high of $85.71. The stock’s fifty day moving average is $77.44 and its two-hundred day moving average is $73.88.

Lakeland Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th were issued a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.10%. The ex-dividend date of this dividend was Monday, October 24th. Lakeland Financial’s dividend payout ratio (DPR) is 40.20%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, Director Blake Augsburger sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $82.31, for a total value of $329,240.00. Following the sale, the director now owns 14,313 shares of the company’s stock, valued at $1,178,103.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Blake Augsburger sold 4,000 shares of the company’s stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $82.31, for a total value of $329,240.00. Following the sale, the director now directly owns 14,313 shares in the company, valued at $1,178,103.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Brok A. Lahrman sold 312 shares of the company’s stock in a transaction on Friday, October 28th. The shares were sold at an average price of $82.03, for a total value of $25,593.36. Following the completion of the sale, the chief accounting officer now owns 588 shares in the company, valued at $48,233.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,932 shares of company stock valued at $4,373,483. Insiders own 4.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. StockNews.com began coverage on Lakeland Financial in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Stephens upped their target price on Lakeland Financial to $80.00 in a report on Tuesday, August 23rd.

Lakeland Financial Company Profile

(Get Rating)

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

Further Reading

Institutional Ownership by Quarter for Lakeland Financial (NASDAQ:LKFN)

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