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UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Cuts Position in Lakeland Financial Co. (NASDAQ:LKFN)

Lakeland Financial logo with Finance background

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lessened its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 13.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,724 shares of the financial services provider's stock after selling 6,985 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.18% of Lakeland Financial worth $2,978,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of LKFN. Raymond James & Associates boosted its position in shares of Lakeland Financial by 132.5% in the 2nd quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider's stock valued at $6,042,000 after purchasing an additional 55,975 shares during the period. Fifth Third Bancorp increased its holdings in shares of Lakeland Financial by 342.5% in the 2nd quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider's stock valued at $36,000 after acquiring an additional 459 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Lakeland Financial by 1.6% in the 2nd quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the financial services provider's stock valued at $787,000 after acquiring an additional 200 shares during the period. First Merchants Corp purchased a new stake in Lakeland Financial in the 2nd quarter valued at $215,000. Finally, Bank of New York Mellon Corp boosted its stake in Lakeland Financial by 0.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider's stock worth $14,327,000 after purchasing an additional 684 shares during the period. Institutional investors and hedge funds own 81.15% of the company's stock.

Lakeland Financial Stock Performance

NASDAQ LKFN traded down $0.26 during trading on Friday, reaching $72.76. The company's stock had a trading volume of 110,619 shares, compared to its average volume of 114,210. The business's fifty day moving average price is $69.92 and its 200-day moving average price is $65.97. Lakeland Financial Co. has a twelve month low of $57.45 and a twelve month high of $78.61. The firm has a market cap of $1.86 billion, a price-to-earnings ratio of 18.90 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS 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 firm had revenue of $106.94 million during the quarter, compared to the consensus estimate of $59.90 million. During the same period in the prior year, the business earned $0.98 EPS. As a group, sell-side analysts forecast that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The company also recently disclosed 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 was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a yield of 2.64%. Lakeland Financial's dividend payout ratio (DPR) is 49.87%.

Insider Buying and Selling at Lakeland Financial

In other news, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the sale, the executive vice president now owns 32,475 shares of the company's stock, valued at $2,386,912.50. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have sold 4,150 shares of company stock valued at $305,327. 3.30% of the stock is owned by company insiders.

Lakeland Financial Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Lakeland Financial (NASDAQ:LKFN)

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