Amundi Has $880,000 Stock Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

Amundi lifted its position in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 197.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,932 shares of the financial services provider's stock after acquiring an additional 8,578 shares during the quarter. Amundi owned approximately 0.05% of Lakeland Financial worth $880,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Albert D Mason Inc. boosted its stake in shares of Lakeland Financial by 0.8% during the fourth quarter. Albert D Mason Inc. now owns 22,638 shares of the financial services provider's stock valued at $1,557,000 after purchasing an additional 177 shares in the last quarter. Forvis Mazars Wealth Advisors LLC boosted its position in Lakeland Financial by 0.4% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 68,875 shares of the financial services provider's stock worth $4,736,000 after buying an additional 255 shares during the period. Jones Financial Companies Lllp grew its holdings in Lakeland Financial by 18.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,062 shares of the financial services provider's stock worth $142,000 after acquiring an additional 326 shares during the last quarter. US Bancorp DE increased its position in Lakeland Financial by 16.8% in the 4th quarter. US Bancorp DE now owns 2,480 shares of the financial services provider's stock valued at $171,000 after acquiring an additional 357 shares during the period. Finally, Sippican Capital Advisors raised its stake in shares of Lakeland Financial by 2.4% during the fourth quarter. Sippican Capital Advisors now owns 19,376 shares of the financial services provider's stock valued at $1,332,000 after acquiring an additional 445 shares during the last quarter. Institutional investors own 81.15% of the company's stock.

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Insiders Place Their Bets

In other news, SVP Donald Robinson-Gay sold 550 shares of Lakeland Financial stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $66.25, for a total value of $36,437.50. Following the completion of the sale, the senior vice president now owns 4,974 shares in the company, valued at $329,527.50. The trade was a 9.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephanie R. Leniski sold 1,500 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $61.94, for a total transaction of $92,910.00. Following the transaction, the executive vice president now owns 6,211 shares in the company, valued at $384,709.34. The trade was a 19.45 % decrease in their position. The disclosure for this sale can be found here. 3.00% of the stock is currently owned by corporate insiders.

Lakeland Financial Stock Performance

Shares of NASDAQ:LKFN traded down $0.61 during trading on Friday, reaching $60.19. The stock had a trading volume of 554,603 shares, compared to its average volume of 111,622. Lakeland Financial Co. has a 52 week low of $57.45 and a 52 week high of $78.61. The firm's fifty day moving average is $65.99 and its 200 day moving average is $67.66. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 16.58 and a beta of 0.63.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.94 EPS for the quarter, beating analysts' consensus estimates of $0.89 by $0.05. Lakeland Financial had a net margin of 21.74% and a return on equity of 13.31%. On average, research analysts forecast that Lakeland Financial Co. will post 3.7 earnings per share for the current fiscal year.

Lakeland Financial Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Saturday, January 25th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, January 24th. This represents a $2.00 annualized dividend and a yield of 3.32%. This is a boost from Lakeland Financial's previous quarterly dividend of $0.48. Lakeland Financial's dividend payout ratio (DPR) is currently 55.10%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on LKFN shares. Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $74.00 price objective (up previously from $73.00) on shares of Lakeland Financial in a research note on Monday, January 27th. Hovde Group initiated coverage on Lakeland Financial in a research report on Friday. They issued a "market perform" rating and a $66.00 price target on the stock.

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.