Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by Raymond James & Associates

Raymond James & Associates lowered its holdings in shares of Lakeland Financial Co. (NASDAQ:LKFN - Free Report) by 14.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 84,347 shares of the financial services provider's stock after selling 13,872 shares during the quarter. Raymond James & Associates owned 0.33% of Lakeland Financial worth $5,493,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of LKFN. nVerses Capital LLC bought a new stake in shares of Lakeland Financial in the 2nd quarter worth about $31,000. Fifth Third Bancorp lifted 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 worth $36,000 after acquiring an additional 459 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lakeland Financial by 58.0% in the 3rd 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 last quarter. First Merchants Corp bought a new stake in shares of Lakeland Financial in the 2nd quarter worth about $215,000. Finally, Sippican Capital Advisors bought a new stake in shares of Lakeland Financial in the 1st quarter worth about $223,000. Institutional investors own 81.15% of the company's stock.

Analyst Upgrades and Downgrades

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

Lakeland Financial Stock Down 0.0 %

LKFN stock traded down $0.02 during trading on Friday, hitting $65.05. The company had a trading volume of 110,384 shares, compared to its average volume of 104,535. The firm has a market capitalization of $1.66 billion, a P/E ratio of 16.90 and a beta of 0.65. Lakeland Financial Co. has a 52-week low of $48.85 and a 52-week high of $73.22. The company has a 50 day simple moving average of $65.47 and a 200-day simple moving average of $63.44.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last posted 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. The company had revenue of $106.94 million for 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 quarter last year, the firm posted $0.98 EPS. Sell-side analysts forecast that Lakeland Financial Co. will post 3.4 earnings per share for the current year.

Lakeland Financial Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date of this dividend is Friday, October 25th. Lakeland Financial's dividend payout ratio (DPR) is 49.87%.

Insider Buying and Selling at Lakeland Financial

In other news, President Kristin Pruitt sold 12,000 shares of Lakeland Financial stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.06, for a total value of $804,720.00. Following the transaction, the president now owns 10,252 shares of the company's stock, valued at $687,499.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, President Kristin Pruitt sold 12,000 shares of Lakeland Financial stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $67.06, for a total value of $804,720.00. Following the transaction, the president now owns 10,252 shares of the company's stock, valued at $687,499.12. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP James Rickard Donovan sold 800 shares of Lakeland Financial stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,336.00. Following the completion of the transaction, the senior vice president now directly owns 9,568 shares in the company, valued at approximately $625,938.56. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.