Lakeland Financial Co. (NASDAQ:LKFN) Shares Purchased by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in Lakeland Financial Co. (NASDAQ:LKFNFree Report) by 5.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 263,434 shares of the financial services provider’s stock after acquiring an additional 12,486 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.04% of Lakeland Financial worth $17,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. PNC Financial Services Group Inc. increased its stake in shares of Lakeland Financial by 4.1% in the third quarter. PNC Financial Services Group Inc. now owns 6,516 shares of the financial services provider’s stock worth $309,000 after acquiring an additional 257 shares during the period. Eagle Asset Management Inc. boosted its holdings in Lakeland Financial by 0.6% during the third quarter. Eagle Asset Management Inc. now owns 72,402 shares of the financial services provider’s stock worth $3,436,000 after buying an additional 426 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in Lakeland Financial by 359.1% during the fourth quarter. SRS Capital Advisors Inc. now owns 629 shares of the financial services provider’s stock worth $41,000 after buying an additional 492 shares in the last quarter. Raymond James & Associates boosted its holdings in Lakeland Financial by 1.8% during the fourth quarter. Raymond James & Associates now owns 40,160 shares of the financial services provider’s stock worth $2,617,000 after buying an additional 698 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in Lakeland Financial by 6.8% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,506 shares of the financial services provider’s stock worth $750,000 after buying an additional 732 shares in the last quarter. Institutional investors and hedge funds own 81.15% of the company’s stock.

Lakeland Financial Stock Performance

Shares of NASDAQ LKFN opened at $61.08 on Monday. The company’s fifty day moving average price is $61.70 and its 200 day moving average price is $62.42. Lakeland Financial Co. has a 1 year low of $44.47 and a 1 year high of $73.22. The company has a market capitalization of $1.56 billion, a PE ratio of 16.87 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.

Lakeland Financial (NASDAQ:LKFNGet Free Report) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. The business had revenue of $60.03 million for the quarter, compared to the consensus estimate of $58.10 million. Lakeland Financial had a net margin of 22.81% and a return on equity of 14.34%. On average, research analysts predict that Lakeland Financial Co. will post 3.46 earnings per share for the current year.

Lakeland Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Thursday, April 25th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 3.14%. The ex-dividend date was Wednesday, April 24th. Lakeland Financial’s payout ratio is 53.04%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, SVP Donald Robinson-Gay sold 893 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $65.93, for a total transaction of $58,875.49. Following the transaction, the senior vice president now directly owns 3,174 shares of the company’s stock, valued at $209,261.82. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Steven D. Ross sold 1,300 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $64.50, for a total value of $83,850.00. Following the completion of the sale, the director now directly owns 27,501 shares in the company, valued at $1,773,814.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald Robinson-Gay sold 893 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $65.93, for a total transaction of $58,875.49. Following the completion of the sale, the senior vice president now owns 3,174 shares of the company’s stock, valued at $209,261.82. The disclosure for this sale can be found here. Insiders have sold a total of 21,740 shares of company stock valued at $1,425,490 over the last ninety days. Corporate insiders own 3.30% of the company’s stock.

Lakeland Financial Company Profile

(Free Report)

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.

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

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