GSA Capital Partners LLP Purchases 10,685 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

GSA Capital Partners LLP grew its holdings in Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 215.2% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 15,649 shares of the financial services provider's stock after purchasing an additional 10,685 shares during the period. GSA Capital Partners LLP owned approximately 0.06% of Lakeland Financial worth $1,019,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. BNP Paribas Financial Markets grew its position in Lakeland Financial by 82.3% in the first quarter. BNP Paribas Financial Markets now owns 12,344 shares of the financial services provider's stock valued at $819,000 after acquiring an additional 5,571 shares during the last quarter. ProShare Advisors LLC raised its position in shares of Lakeland Financial by 7.4% during the first quarter. ProShare Advisors LLC now owns 5,020 shares of the financial services provider's stock worth $333,000 after acquiring an additional 345 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its stake in shares of Lakeland Financial by 14.9% in the first quarter. State Board of Administration of Florida Retirement System now owns 8,146 shares of the financial services provider's stock worth $510,000 after acquiring an additional 1,054 shares during the period. CANADA LIFE ASSURANCE Co boosted its holdings in Lakeland Financial by 5.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 21,562 shares of the financial services provider's stock valued at $1,427,000 after acquiring an additional 1,141 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in Lakeland Financial by 5.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,044 shares of the financial services provider's stock valued at $1,131,000 after purchasing an additional 862 shares during the period. Institutional investors own 81.15% of the company's stock.

Insider Activity at Lakeland Financial

In other Lakeland Financial news, President Kristin Pruitt sold 12,000 shares of the business's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.06, for a total transaction of $804,720.00. Following the completion of the sale, the president now directly owns 10,252 shares of the company's stock, valued at approximately $687,499.12. The trade was a 53.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP James Rickard Donovan sold 800 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $65.42, for a total value of $52,336.00. Following the completion of the transaction, the senior vice president now owns 9,568 shares in the company, valued at $625,938.56. This represents a 7.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,950 shares of company stock valued at $868,383. 3.30% of the stock is owned by company insiders.

Lakeland Financial Stock Down 0.9 %

LKFN traded down $0.63 during trading on Friday, hitting $73.22. The company's stock had a trading volume of 95,964 shares, compared to its average volume of 115,615. The firm has a market capitalization of $1.87 billion, a P/E ratio of 19.02 and a beta of 0.65. Lakeland Financial Co. has a twelve month low of $53.97 and a twelve month high of $78.31. The stock's fifty day moving average price is $66.43 and its 200-day moving average price is $64.24.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $106.94 million during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.98 earnings per share. Equities research analysts expect that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date was Friday, October 25th. Lakeland Financial's dividend payout ratio is currently 49.87%.

Wall Street Analyst Weigh In

Separately, Keefe, Bruyette & Woods increased their price objective on shares of Lakeland Financial from $64.00 to $65.00 and gave the stock a "market perform" rating in a research report on Monday, July 29th.

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.