Mutual of America Capital Management LLC Has $290,000 Stake in Lakeland Financial Co. (NASDAQ:LKFN)

Mutual of America Capital Management LLC decreased its position in Lakeland Financial Co. (NASDAQ:LKFN) by 88.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,451 shares of the financial services provider’s stock after selling 33,298 shares during the period. Mutual of America Capital Management LLC’s holdings in Lakeland Financial were worth $290,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC boosted its stake in Lakeland Financial by 10,016.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,214 shares of the financial services provider’s stock worth $79,000 after purchasing an additional 1,202 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Lakeland Financial by 6.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,506 shares of the financial services provider’s stock worth $750,000 after purchasing an additional 732 shares during the period. Boston Trust Walden Corp boosted its stake in shares of Lakeland Financial by 5.2% during the 4th quarter. Boston Trust Walden Corp now owns 339,586 shares of the financial services provider’s stock valued at $22,127,000 after buying an additional 16,823 shares during the period. Raymond James Financial Services Advisors Inc. acquired a new stake in shares of Lakeland Financial during the 4th quarter valued at $273,000. Finally, Raymond James & Associates boosted its stake in shares of Lakeland Financial by 1.8% during the 4th quarter. Raymond James & Associates now owns 40,160 shares of the financial services provider’s stock valued at $2,617,000 after buying an additional 698 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Raymond James lifted their target price on shares of Lakeland Financial from $60.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 26th. Stephens lifted their target price on shares of Lakeland Financial from $67.00 to $70.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th.

Insider Activity at Lakeland Financial

In related news, Director Michael L. Kubacki sold 26,600 shares of Lakeland Financial stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $71.51, for a total value of $1,902,166.00. Following the completion of the sale, the director now owns 39,800 shares of the company’s stock, valued at approximately $2,846,098. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Michael L. Kubacki sold 26,600 shares of Lakeland Financial stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $71.51, for a total value of $1,902,166.00. Following the transaction, the director now owns 39,800 shares in the company, valued at approximately $2,846,098. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David M. Findlay sold 12,000 shares of Lakeland Financial stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $65.26, for a total transaction of $783,120.00. Following the completion of the transaction, the chief executive officer now owns 14,175 shares in the company, valued at approximately $925,060.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,728 shares of company stock valued at $3,670,449. Insiders own 3.30% of the company’s stock.

Lakeland Financial Stock Up 2.5 %

LKFN stock opened at $62.90 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.08. Lakeland Financial Co. has a 1 year low of $43.05 and a 1 year high of $73.22. The company has a fifty day simple moving average of $63.11 and a 200 day simple moving average of $60.53. The firm has a market cap of $1.63 billion, a PE ratio of 17.23 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.10. Lakeland Financial had a net margin of 23.85% and a return on equity of 14.89%. The business had revenue of $65.81 million during the quarter, compared to analyst estimates of $59.81 million. During the same quarter in the previous year, the business earned $1.01 EPS. Sell-side analysts anticipate that Lakeland Financial Co. will post 3.49 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 25th will be paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 3.05%. The ex-dividend date is Wednesday, April 24th. Lakeland Financial’s payout ratio is presently 52.60%.

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.