Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by 1ST Source Bank

1ST Source Bank cut its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 1.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 48,744 shares of the financial services provider’s stock after selling 790 shares during the quarter. 1ST Source Bank owned approximately 0.19% of Lakeland Financial worth $3,174,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Louisiana State Employees Retirement System increased its position in Lakeland Financial by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the financial services provider’s stock worth $787,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC increased its stake in Lakeland Financial by 58.0% in the 3rd quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock valued at $42,000 after buying an additional 235 shares during the last quarter. Inspire Investing LLC increased its stake in shares of Lakeland Financial by 5.1% during the 2nd quarter. Inspire Investing LLC now owns 5,679 shares of the financial services provider’s stock worth $349,000 after purchasing an additional 277 shares during the last quarter. Arizona State Retirement System boosted its holdings in Lakeland Financial by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 7,269 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 280 shares during the period. Finally, nVerses Capital LLC lifted its holdings in shares of Lakeland Financial by 60.0% during the 3rd quarter. nVerses Capital LLC now owns 800 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 300 shares during the period. 81.15% of the stock is owned by institutional investors.

Insider Buying and Selling at Lakeland Financial

In other news, EVP Eric H. Ottinger sold 3,959 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the completion of the sale, the executive vice president now owns 32,475 shares in the company, valued at approximately $2,386,912.50. This trade represents a 10.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last ninety days, insiders sold 4,150 shares of company stock valued at $305,327. Insiders own 3.30% of the company’s stock.

Lakeland Financial Trading Up 0.0 %

NASDAQ LKFN traded up $0.03 on Friday, hitting $73.05. 10,532 shares of the company were exchanged, compared to its average volume of 113,925. Lakeland Financial Co. has a 12 month low of $57.45 and a 12 month high of $78.61. The company has a market cap of $1.86 billion, a PE ratio of 18.97 and a beta of 0.67. The stock has a fifty day moving average of $69.73 and a 200-day moving average of $65.85.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The business had revenue of $106.94 million for the quarter, compared to the consensus estimate of $59.90 million. During the same period in the prior year, the firm earned $0.98 earnings per share. On average, analysts expect that Lakeland Financial Co. will post 3.42 earnings per share for the current year.

Lakeland Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a yield of 2.63%. Lakeland Financial’s dividend payout ratio (DPR) is 49.87%.

About Lakeland Financial

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.