Massachusetts Financial Services Co. MA reduced its position in shares of Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) by 90.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 46,042 shares of the financial services provider's stock after selling 458,074 shares during the period. Massachusetts Financial Services Co. MA owned about 0.18% of Lakeland Financial worth $3,361,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Pinebridge Investments L.P. purchased a new stake in shares of Lakeland Financial during the 4th quarter worth $96,000. SG Americas Securities LLC lifted its position in shares of Lakeland Financial by 29.9% during the 1st quarter. SG Americas Securities LLC now owns 2,593 shares of the financial services provider's stock worth $189,000 after purchasing an additional 597 shares during the last quarter. Raymond James & Associates acquired a new stake in Lakeland Financial during the 4th quarter worth $232,000. Mutual of America Capital Management LLC raised its stake in Lakeland Financial by 5.5% during the 1st quarter. Mutual of America Capital Management LLC now owns 3,646 shares of the financial services provider's stock worth $266,000 after acquiring an additional 190 shares in the last quarter. Finally, Personal CFO Solutions LLC raised its stake in Lakeland Financial by 4.1% during the 1st quarter. Personal CFO Solutions LLC now owns 4,027 shares of the financial services provider's stock worth $294,000 after acquiring an additional 157 shares in the last quarter. 80.34% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LKFN has been the topic of several research analyst reports. Stephens lifted their price target on shares of Lakeland Financial to $80.00 in a research note on Tuesday, August 23rd. StockNews.com upgraded shares of Lakeland Financial from a "sell" rating to a "hold" rating in a research note on Tuesday, July 26th.

Lakeland Financial Price Performance

Lakeland Financial (NASDAQ:LKFN – Get Rating) last posted its quarterly earnings data on Monday, July 25th. The financial services provider reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. Lakeland Financial had a net margin of 40.50% and a return on equity of 15.27%. During the same period last year, the firm earned $0.95 EPS. On average, sell-side analysts anticipate that Lakeland Financial Co. will post 4.01 EPS for the current year.

Lakeland Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Monday, July 25th were paid a $0.40 dividend. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.10%. Lakeland Financial's dividend payout ratio is presently 41.99%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, Director Robert E. Bartels, Jr. acquired 755 shares of the company's stock in a transaction on Monday, June 13th. The shares were bought at an average cost of $67.29 per share, for a total transaction of $50,803.95. Following the completion of the purchase, the director now owns 26,213 shares in the company, valued at approximately $1,763,872.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Robert E. Bartels, Jr. bought 755 shares of the stock in a transaction dated Monday, June 13th. The shares were acquired at an average price of $67.29 per share, with a total value of $50,803.95. Following the completion of the acquisition, the director now directly owns 26,213 shares in the company, valued at $1,763,872.77. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Lisa M. O'neill sold 1,000 shares of Lakeland Financial stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $76.98, for a total transaction of $76,980.00. Following the completion of the sale, the chief financial officer now directly owns 25,420 shares in the company, valued at approximately $1,956,831.60. The disclosure for this sale can be found here. 4.00% of the stock is currently owned by company insiders.

Lakeland Financial Profile

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Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

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