Barclays PLC Has $3.32 Million Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

Barclays PLC lifted its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 130.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,960 shares of the financial services provider's stock after acquiring an additional 28,851 shares during the quarter. Barclays PLC owned about 0.20% of Lakeland Financial worth $3,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LKFN. nVerses Capital LLC acquired a new position in shares of Lakeland Financial during the 2nd quarter valued at $31,000. Fifth Third Bancorp boosted its stake in Lakeland Financial by 342.5% during the second quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider's stock valued at $36,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC grew its holdings in Lakeland Financial by 58.0% during the third quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider's stock worth $42,000 after acquiring an additional 235 shares during the period. Point72 DIFC Ltd bought a new stake in Lakeland Financial in the third quarter worth about $74,000. Finally, US Bancorp DE lifted its holdings in Lakeland Financial by 72.2% in the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider's stock valued at $138,000 after acquiring an additional 890 shares during the last quarter. Institutional investors own 81.15% of the company's stock.

Insider Buying and Selling

In related news, EVP Eric H. Ottinger sold 3,959 shares of the company's stock in a transaction that occurred on 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 represents a 10.87 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last quarter, insiders have sold 4,150 shares of company stock valued at $305,327. 3.30% of the stock is owned by corporate insiders.

Lakeland Financial Price Performance

Shares of LKFN traded up $0.35 during mid-day trading on Tuesday, hitting $69.25. The company's stock had a trading volume of 37,566 shares, compared to its average volume of 115,854. The firm has a 50-day moving average price of $70.80 and a 200 day moving average price of $66.39. Lakeland Financial Co. has a fifty-two week low of $57.45 and a fifty-two week high of $78.61. The stock has a market capitalization of $1.77 billion, a price-to-earnings ratio of 17.99 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last issued its earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.88 by $0.03. The firm had revenue of $106.94 million during the quarter, compared to analysts' expectations of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same period last year, the firm posted $0.98 earnings per share. As a group, equities analysts anticipate that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were given a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.77%. 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.