Lakeland Financial Co. (NASDAQ:LKFN) Shares Acquired by Fmr LLC

FMR LLC boosted its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 41.1% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 82,428 shares of the financial services provider's stock after purchasing an additional 24,030 shares during the period. FMR LLC owned approximately 0.32% of Lakeland Financial worth $5,368,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of LKFN. Charles Schwab Investment Management Inc. raised its position in Lakeland Financial by 3.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 902,968 shares of the financial services provider's stock valued at $58,801,000 after acquiring an additional 27,214 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Lakeland Financial by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider's stock valued at $50,232,000 after purchasing an additional 11,118 shares in the last quarter. Eagle Asset Management Inc. lifted its stake in shares of Lakeland Financial by 29.5% in the 3rd quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider's stock valued at $16,289,000 after purchasing an additional 56,928 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Lakeland Financial by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider's stock worth $14,386,000 after buying an additional 12,846 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in Lakeland Financial by 0.3% during the second quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider's stock worth $14,327,000 after buying an additional 684 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company's stock.

Insider Buying and Selling at Lakeland Financial

In related news, EVP Eric H. Ottinger sold 3,959 shares of the firm's stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $73.50, for a total transaction of $290,986.50. Following the completion of the sale, the executive vice president now directly owns 32,475 shares of the company's stock, valued at approximately $2,386,912.50. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 4,150 shares of company stock worth $305,327 in the last three months. 3.30% of the stock is owned by corporate insiders.

Lakeland Financial Price Performance

NASDAQ LKFN traded down $0.28 during trading hours on Friday, reaching $72.74. The company's stock had a trading volume of 50,948 shares, compared to its average volume of 114,063. Lakeland Financial Co. has a 1-year low of $57.45 and a 1-year high of $78.61. The company's 50-day moving average is $69.73 and its two-hundred day moving average is $65.85. The firm has a market capitalization of $1.86 billion, a price-to-earnings ratio of 18.97 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping 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 company had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. During the same quarter in the previous year, the firm earned $0.98 EPS. Equities analysts forecast that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, October 25th. Lakeland Financial's dividend payout ratio is currently 49.87%.

Lakeland Financial Company 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.