Point72 Hong Kong Ltd Trims Position in Lakeland Financial Co. (NASDAQ:LKFN)

Point72 Hong Kong Ltd lessened its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) by 83.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 359 shares of the financial services provider’s stock after selling 1,802 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Lakeland Financial were worth $26,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Captrust Financial Advisors raised its position in shares of Lakeland Financial by 45.3% in the 2nd quarter. Captrust Financial Advisors now owns 542 shares of the financial services provider’s stock worth $36,000 after buying an additional 169 shares during the period. Synovus Financial Corp raised its position in shares of Lakeland Financial by 3.9% in the 2nd quarter. Synovus Financial Corp now owns 4,628 shares of the financial services provider’s stock worth $311,000 after buying an additional 174 shares during the period. FORVIS Wealth Advisors LLC raised its position in shares of Lakeland Financial by 0.3% in the 3rd quarter. FORVIS Wealth Advisors LLC now owns 63,455 shares of the financial services provider’s stock worth $4,620,000 after buying an additional 175 shares during the period. Raymond James & Associates raised its position in shares of Lakeland Financial by 6.2% in the 1st quarter. Raymond James & Associates now owns 3,075 shares of the financial services provider’s stock worth $224,000 after buying an additional 179 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in shares of Lakeland Financial by 1.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 17,152 shares of the financial services provider’s stock worth $1,139,000 after buying an additional 184 shares during the period. Hedge funds and other institutional investors own 80.45% of the company’s stock.

Lakeland Financial Stock Down 3.4 %

Shares of Lakeland Financial stock opened at $69.10 on Tuesday. The business has a 50-day moving average of $72.00 and a 200-day moving average of $75.01. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.87 and a quick ratio of 0.87. The company has a market capitalization of $1.76 billion, a PE ratio of 17.10 and a beta of 0.74. Lakeland Financial Co. has a 1-year low of $64.05 and a 1-year high of $83.57.

Lakeland Financial (NASDAQ:LKFN – Get Rating) last announced its earnings results on Wednesday, January 25th. The financial services provider reported $1.01 earnings per share for the quarter, missing the consensus estimate of $1.13 by ($0.12). The business had revenue of $85.87 million for the quarter, compared to analyst estimates of $65.70 million. Lakeland Financial had a net margin of 36.89% and a return on equity of 18.38%. During the same quarter in the prior year, the business earned $0.95 earnings per share. As a group, equities analysts forecast that Lakeland Financial Co. will post 4.35 EPS for the current fiscal year.

Lakeland Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 6th. Stockholders of record on Wednesday, January 25th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, January 24th. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.40. This represents a $1.84 annualized dividend and a dividend yield of 2.66%. Lakeland Financial’s dividend payout ratio (DPR) is currently 45.54%.

Insider Activity

In other news, SVP Stephanie R. Leniski sold 2,157 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $69.66, for a total transaction of $150,256.62. Following the completion of the sale, the senior vice president now directly owns 2,938 shares in the company, valued at $204,661.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Brok A. Lahrman sold 550 shares of Lakeland Financial stock in a transaction dated Wednesday, February 15th. The stock was sold at an average price of $70.37, for a total value of $38,703.50. Following the completion of the transaction, the chief accounting officer now directly owns 1,376 shares in the company, valued at $96,829.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Stephanie R. Leniski sold 2,157 shares of the firm’s stock in a transaction dated Friday, February 10th. The stock was sold at an average price of $69.66, for a total transaction of $150,256.62. Following the completion of the transaction, the senior vice president now directly owns 2,938 shares in the company, valued at approximately $204,661.08. The disclosure for this sale can be found here. Insiders sold 6,051 shares of company stock worth $423,609 over the last ninety days. Corporate insiders own 3.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. StockNews.com downgraded Lakeland Financial from a “hold” rating to a “sell” rating in a report on Thursday, January 26th. Raymond James upgraded Lakeland Financial from a “market perform” rating to an “outperform” rating and set a $78.00 price target for the company in a report on Tuesday, February 21st.

Lakeland Financial Company Profile

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Lakeland Financial Corp. is a bank holding company, which engages in the provision of banking products and services. It offers commercial and consumer banking, trust and wealth management, brokerage, and treasury management commercial services. The company was founded on February 8, 1983 and is headquartered in Warsaw, IN.