Cwm LLC Purchases 3,507 Shares of Lakeland Financial Corporation $LKFN

Cwm LLC grew its position in shares of Lakeland Financial Corporation (NASDAQ:LKFN) by 555.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,138 shares of the financial services provider’s stock after buying an additional 3,507 shares during the quarter. Cwm LLC’s holdings in Lakeland Financial were worth $254,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in LKFN. State of Wyoming grew its holdings in shares of Lakeland Financial by 5.8% during the first quarter. State of Wyoming now owns 4,523 shares of the financial services provider’s stock worth $269,000 after purchasing an additional 249 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in Lakeland Financial by 2.2% during the 1st quarter. Russell Investments Group Ltd. now owns 12,925 shares of the financial services provider’s stock worth $768,000 after acquiring an additional 280 shares during the last quarter. Harbour Investments Inc. grew its holdings in Lakeland Financial by 16.4% during the 1st quarter. Harbour Investments Inc. now owns 1,990 shares of the financial services provider’s stock worth $118,000 after acquiring an additional 281 shares during the last quarter. KFG Wealth Management LLC grew its holdings in Lakeland Financial by 2.5% during the 2nd quarter. KFG Wealth Management LLC now owns 12,837 shares of the financial services provider’s stock worth $789,000 after acquiring an additional 310 shares during the last quarter. Finally, LPL Financial LLC grew its stake in shares of Lakeland Financial by 0.5% during the first quarter. LPL Financial LLC now owns 66,165 shares of the financial services provider’s stock valued at $3,933,000 after purchasing an additional 340 shares during the last quarter. 81.15% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Lakeland Financial news, EVP Eric H. Ottinger sold 4,635 shares of Lakeland Financial stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $67.07, for a total transaction of $310,869.45. Following the transaction, the executive vice president directly owned 32,282 shares in the company, valued at approximately $2,165,153.74. The trade was a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 3.00% of the company’s stock.

Lakeland Financial Price Performance

Lakeland Financial stock opened at $58.67 on Tuesday. The company’s 50 day simple moving average is $64.47 and its 200 day simple moving average is $61.84. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 15.99 and a beta of 0.59. Lakeland Financial Corporation has a fifty-two week low of $50.00 and a fifty-two week high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.03 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.01. The company had revenue of $69.00 million for the quarter, compared to analysts’ expectations of $69.15 million. Lakeland Financial had a net margin of 22.55% and a return on equity of 13.57%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period last year, the firm posted $0.91 earnings per share. As a group, analysts predict that Lakeland Financial Corporation will post 3.7 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 5th. Shareholders of record on Saturday, October 25th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, October 24th. This represents a $2.00 annualized dividend and a yield of 3.4%. Lakeland Financial’s payout ratio is currently 54.50%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on LKFN. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $68.00 price target (up from $65.00) on shares of Lakeland Financial in a research note on Monday, July 28th. Weiss Ratings reiterated a “hold (c)” rating on shares of Lakeland Financial in a research report on Wednesday, October 8th. One analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.00.

Lakeland Financial 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.