Victory Capital Management Inc. raised its position in Lakeland Financial Co. (NASDAQ:LKFN) by 0.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 911,935 shares of the financial services provider’s stock after buying an additional 7,209 shares during the period. Victory Capital Management Inc. owned about 3.65% of Lakeland Financial worth $39,323,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Comerica Bank raised its position in Lakeland Financial by 0.5% in the first quarter. Comerica Bank now owns 12,100 shares of the financial services provider’s stock worth $567,000 after buying an additional 62 shares during the last quarter. Prudential Financial Inc. raised its position in shares of Lakeland Financial by 1.5% in the first quarter. Prudential Financial Inc. now owns 5,272 shares of the financial services provider’s stock worth $228,000 after buying an additional 80 shares in the last quarter. Keybank National Association OH raised its position in shares of Lakeland Financial by 0.8% in the first quarter. Keybank National Association OH now owns 26,070 shares of the financial services provider’s stock worth $1,124,000 after buying an additional 200 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Lakeland Financial by 4.2% in the first quarter. Parametric Portfolio Associates LLC now owns 20,562 shares of the financial services provider’s stock worth $887,000 after buying an additional 836 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd raised its position in shares of Lakeland Financial by 17.5% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 7,078 shares of the financial services provider’s stock worth $335,000 after buying an additional 1,052 shares in the last quarter. 66.27% of the stock is currently owned by institutional investors and hedge funds.
Lakeland Financial Co. (NASDAQ:LKFN) traded up 3.04% during trading on Friday, reaching $46.80. The company’s stock had a trading volume of 114,765 shares. Lakeland Financial Co. has a 52-week low of $29.64 and a 52-week high of $48.88. The company has a market cap of $1.17 billion, a PE ratio of 21.87 and a beta of 0.77. The stock has a 50-day moving average price of $44.67 and a 200 day moving average price of $44.64.
Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.57 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. Lakeland Financial had a net margin of 30.31% and a return on equity of 12.47%. The firm had revenue of $40.32 million during the quarter, compared to the consensus estimate of $40.29 million. On average, analysts expect that Lakeland Financial Co. will post $2.27 EPS for the current year.
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A number of research analysts have commented on LKFN shares. Keefe, Bruyette & Woods set a $43.00 price objective on Lakeland Financial and gave the company a “hold” rating in a report on Tuesday, April 18th. Zacks Investment Research downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. DA Davidson upgraded Lakeland Financial from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Thursday, May 18th. Finally, BidaskClub upgraded Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $44.67.
In other Lakeland Financial news, insider Batty Jill A. De sold 600 shares of Lakeland Financial stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $42.61, for a total value of $25,566.00. Following the transaction, the insider now directly owns 9,232 shares of the company’s stock, valued at $393,375.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Michael E. Gavin sold 2,500 shares of Lakeland Financial stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $42.93, for a total transaction of $107,325.00. Following the completion of the transaction, the executive vice president now directly owns 2,018 shares in the company, valued at $86,632.74. The disclosure for this sale can be found here. Insiders have sold 6,100 shares of company stock valued at $270,711 in the last ninety days. Insiders own 4.90% of the company’s stock.
Lakeland Financial Company Profile
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.
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