Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by Huntington National Bank

Huntington National Bank reduced its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 5.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,072 shares of the financial services provider’s stock after selling 301 shares during the period. Huntington National Bank’s holdings in Lakeland Financial were worth $330,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. nVerses Capital LLC acquired a new position in Lakeland Financial in the second quarter worth about $31,000. Fifth Third Bancorp grew its position 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 in the last quarter. GAMMA Investing LLC increased 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 valued at $42,000 after acquiring an additional 235 shares during the last quarter. US Bancorp DE raised its position in shares of Lakeland Financial by 72.2% during the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 890 shares in the last quarter. Finally, Everence Capital Management Inc. bought a new position in Lakeland Financial during the third quarter worth $201,000. Institutional investors own 81.15% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, President Kristin Pruitt sold 12,000 shares of Lakeland Financial stock in a transaction 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 sale, the president now owns 10,252 shares of the company’s stock, valued at $687,499.12. The trade was a 53.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James Rickard Donovan sold 800 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $65.42, for a total value of $52,336.00. Following the transaction, the senior vice president now owns 9,568 shares of the company’s stock, valued at $625,938.56. This trade represents a 7.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,950 shares of company stock valued at $868,383 in the last ninety days. Company insiders own 3.30% of the company’s stock.

Lakeland Financial Trading Down 0.9 %

NASDAQ:LKFN opened at $73.22 on Friday. The firm has a market capitalization of $1.87 billion, a PE ratio of 19.02 and a beta of 0.65. Lakeland Financial Co. has a 52 week low of $53.97 and a 52 week high of $78.31. The stock has a 50 day moving average of $66.43 and a 200-day moving average of $64.24.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 13.64% and a net margin of 22.85%. During the same period in the prior year, the business earned $0.98 EPS. As a group, analysts predict that Lakeland Financial Co. will post 3.42 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

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 annualized dividend and a yield of 2.62%. Lakeland Financial’s dividend payout ratio is presently 49.87%.

Lakeland Financial Company 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.