Rafferty Asset Management LLC Buys 8,218 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

Rafferty Asset Management LLC lifted its position in Lakeland Financial Co. (NASDAQ:LKFNFree Report) by 42.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,782 shares of the financial services provider’s stock after buying an additional 8,218 shares during the quarter. Rafferty Asset Management LLC owned about 0.11% of Lakeland Financial worth $1,810,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in LKFN. PNC Financial Services Group Inc. lifted its position 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 valued at $309,000 after buying an additional 257 shares during the last quarter. Eagle Asset Management Inc. lifted its holdings in Lakeland Financial by 0.6% during the 3rd quarter. Eagle Asset Management Inc. now owns 72,402 shares of the financial services provider’s stock valued at $3,436,000 after purchasing an additional 426 shares during the last quarter. SRS Capital Advisors Inc. boosted its position 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 purchasing an additional 492 shares during the period. Raymond James & Associates increased its holdings in shares of Lakeland Financial by 1.8% in the fourth quarter. Raymond James & Associates now owns 40,160 shares of the financial services provider’s stock valued at $2,617,000 after purchasing an additional 698 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its position in shares of Lakeland Financial by 6.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 11,506 shares of the financial services provider’s stock valued at $750,000 after purchasing an additional 732 shares during the period. 81.15% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Financial Stock Performance

NASDAQ LKFN opened at $60.25 on Tuesday. Lakeland Financial Co. has a 52-week low of $44.47 and a 52-week high of $73.22. The stock has a market cap of $1.54 billion, a PE ratio of 16.64 and a beta of 0.68. The firm has a 50-day moving average of $61.05 and a 200-day moving average of $62.89. 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 issued its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.02. Lakeland Financial had a net margin of 22.81% and a return on equity of 14.34%. The firm had revenue of $60.03 million during the quarter, compared to the consensus estimate of $58.10 million. On average, sell-side analysts anticipate that Lakeland Financial Co. will post 3.41 EPS for the current year.

Lakeland Financial Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Thursday, April 25th were paid a $0.48 dividend. The ex-dividend date of this dividend was Wednesday, April 24th. This represents a $1.92 annualized dividend and a yield of 3.19%. Lakeland Financial’s dividend payout ratio (DPR) is presently 53.04%.

Insider Buying and Selling at Lakeland Financial

In other news, CEO David M. Findlay sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $65.26, for a total value of $783,120.00. Following the completion of the sale, the chief executive officer now owns 14,175 shares of the company’s stock, valued at $925,060.50. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Kyra E. Clark sold 500 shares of the company’s stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $62.03, for a total transaction of $31,015.00. Following the completion of the sale, the senior vice president now owns 7,596 shares of the company’s stock, valued at $471,179.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David M. Findlay sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The shares were 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 directly owns 14,175 shares in the company, valued at $925,060.50. The disclosure for this sale can be found here. 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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