Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 30.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,652 shares of the financial services provider's stock after selling 14,874 shares during the quarter. Jane Street Group LLC owned approximately 0.13% of Lakeland Financial worth $2,191,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp increased its holdings in Lakeland Financial by 2.2% in the 3rd quarter. State Street Corp now owns 1,276,929 shares of the financial services provider's stock worth $83,154,000 after acquiring an additional 27,556 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Lakeland Financial by 3.1% in 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 purchasing an additional 27,214 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Lakeland Financial by 1.4% during the second quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider's stock worth $50,232,000 after purchasing an additional 11,118 shares in the last quarter. Eagle Asset Management Inc. raised its position in shares of Lakeland Financial by 29.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider's stock worth $16,289,000 after purchasing an additional 56,928 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Lakeland Financial by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider's stock worth $14,386,000 after purchasing an additional 12,846 shares during the last quarter. Hedge funds and other institutional investors own 81.15% of the company's stock.

Lakeland Financial Price Performance

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

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last released its 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. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. The business had revenue of $106.94 million for the quarter, compared to the consensus estimate of $59.90 million. During the same quarter last year, the business posted $0.98 earnings per share. As a group, sell-side analysts expect that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date of this dividend was Friday, October 25th. Lakeland Financial's payout ratio is 49.87%.

Insider Transactions at Lakeland Financial

In related news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was 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 of the company's stock, valued at approximately $2,386,912.50. This trade represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders have sold 4,150 shares of company stock valued at $305,327. Corporate insiders own 3.30% of the company's 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.