FORVIS Wealth Advisors LLC increased its position in Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) by 0.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 63,280 shares of the financial services provider's stock after acquiring an additional 179 shares during the quarter. FORVIS Wealth Advisors LLC owned about 0.25% of Lakeland Financial worth $4,203,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in Lakeland Financial by 4.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 65,361 shares of the financial services provider's stock worth $4,771,000 after acquiring an additional 2,856 shares during the period. Advisor Group Holdings Inc. increased its holdings in shares of Lakeland Financial by 49.3% during the 1st quarter. Advisor Group Holdings Inc. now owns 13,370 shares of the financial services provider's stock worth $686,000 after purchasing an additional 4,413 shares during the period. Krane Funds Advisors LLC increased its holdings in shares of Lakeland Financial by 3.5% during the 1st quarter. Krane Funds Advisors LLC now owns 10,197 shares of the financial services provider's stock worth $744,000 after purchasing an additional 341 shares during the period. Timucuan Asset Management Inc. FL increased its holdings in shares of Lakeland Financial by 0.4% during the 1st quarter. Timucuan Asset Management Inc. FL now owns 160,496 shares of the financial services provider's stock worth $11,716,000 after purchasing an additional 650 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Lakeland Financial by 29.7% during the 1st quarter. American Century Companies Inc. now owns 83,533 shares of the financial services provider's stock worth $6,098,000 after purchasing an additional 19,149 shares during the period. Institutional investors own 81.26% of the company's stock.
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Lakeland Financial Stock Performance
Shares of Lakeland Financial stock opened at $72.81 on Friday. The firm's 50-day simple moving average is $76.60 and its 200-day simple moving average is $73.16. Lakeland Financial Co. has a twelve month low of $64.05 and a twelve month high of $85.71. The firm has a market cap of $1.85 billion, a P/E ratio of 19.11 and a beta of 0.77.
Lakeland Financial (NASDAQ:LKFN – Get Rating) last issued its earnings results on Monday, July 25th. The financial services provider reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.05. Lakeland Financial had a net
margin of 40.50% and a return on equity of 15.27%. The business had revenue of $59.17 million for the quarter, compared to analyst estimates of $59.42 million. During the same period in the previous year, the business earned $0.95 EPS. On average, equities analysts forecast that Lakeland Financial Co. will post 4.01 earnings per share for the current fiscal year.
Lakeland Financial Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Monday, July 25th were given a $0.40 dividend. The ex-dividend date was Friday, July 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.20%. Lakeland Financial's dividend payout ratio (DPR) is presently 41.99%.
Wall Street Analysts Forecast Growth
Several research analysts have recently issued reports on the stock. Stephens boosted their price objective on shares of Lakeland Financial to $80.00 in a report on Tuesday, August 23rd. StockNews.com upgraded shares of Lakeland Financial from a "sell" rating to a "hold" rating in a research report on Tuesday, July 26th.
Insider Buying and Selling at Lakeland Financial
In other Lakeland Financial news, CFO Lisa M. O'neill sold 1,100 shares of the business's stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $76.79, for a total value of $84,469.00. Following the transaction, the chief financial officer now directly owns 24,320 shares in the company, valued at $1,867,532.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Lisa M. O'neill sold 1,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $1,956,831.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Lisa M. O'neill sold 1,100 shares of the business's stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $76.79, for a total transaction of $84,469.00. Following the sale, the chief financial officer now directly owns 24,320 shares of the company's stock, valued at $1,867,532.80. The disclosure for this sale can be found here. Insiders have sold a total of 2,350 shares of company stock worth $180,187 over the last ninety days. Corporate insiders own 4.00% of the company's stock.
Lakeland Financial Company 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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