Lakeland Financial Co. (NASDAQ:LKFN) Shares Acquired by Corient Private Wealth LLC

Corient Private Wealth LLC boosted its stake in shares of Lakeland Financial Co. (NASDAQ:LKFNFree Report) by 18.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,109 shares of the financial services provider’s stock after purchasing an additional 1,697 shares during the quarter. Corient Private Wealth LLC’s holdings in Lakeland Financial were worth $724,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. boosted its holdings in shares of Lakeland Financial by 4.1% during the third quarter. PNC Financial Services Group Inc. now owns 6,516 shares of the financial services provider’s stock valued at $309,000 after acquiring an additional 257 shares during the period. Eagle Asset Management Inc. grew its position in Lakeland Financial by 0.6% in the 3rd quarter. Eagle Asset Management Inc. now owns 72,402 shares of the financial services provider’s stock worth $3,436,000 after purchasing an additional 426 shares during the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Lakeland Financial by 359.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 629 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 492 shares during the period. Raymond James & Associates raised its holdings in shares of Lakeland Financial by 1.8% during the fourth 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 last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of 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 during the period. 81.15% of the stock is currently owned by institutional investors.

Lakeland Financial Stock Down 1.0 %

LKFN opened at $60.37 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. Lakeland Financial Co. has a 12 month low of $44.47 and a 12 month high of $73.22. The stock’s 50 day moving average price is $61.43 and its 200 day moving average price is $62.75. The stock has a market cap of $1.54 billion, a P/E ratio of 16.68 and a beta of 0.68.

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

Lakeland Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Thursday, April 25th were paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date was Wednesday, April 24th. Lakeland Financial’s dividend payout ratio is currently 53.04%.

Insider Activity

In related news, SVP Kyra E. Clark sold 500 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $62.03, for a total transaction of $31,015.00. Following the sale, the senior vice president now owns 7,596 shares of the company’s stock, valued at $471,179.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, CEO David M. Findlay sold 12,000 shares of Lakeland Financial stock in a transaction that occurred on Wednesday, March 13th. The shares were sold at an average price of $65.26, for a total value of $783,120.00. Following the transaction, the chief executive officer now owns 14,175 shares of the company’s stock, valued at approximately $925,060.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Kyra E. Clark sold 500 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $62.03, for a total transaction of $31,015.00. Following the sale, the senior vice president now directly owns 7,596 shares of the company’s stock, valued at $471,179.88. The disclosure for this sale can be found here. Insiders sold 19,547 shares of company stock worth $1,282,764 over the last three months. Corporate insiders own 3.30% of the company’s stock.

About Lakeland Financial

(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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