Los Angeles Capital Management LLC holds $640,000 worth of shares in Lakeland Financial Co. (NASDAQ:LKFN)


Los Angeles Capital Management LLC increased its stake in Lakeland Financial Co. (NASDAQ:LKFNGet a rating) by 2.9% in Q1, according to the company in its latest 13F filing with the Securities and Exchange Commission (SEC). The fund held 8,761 shares of the financial services provider after buying an additional 251 shares during the period. Los Angeles Capital Management LLC’s holdings in Lakeland Financial were worth $640,000 at the end of the last quarter.

Several other institutional investors and hedge funds have also increased or reduced their stakes in the stock. Copeland Capital Management LLC increased its stake in Lakeland Financial by 1.9% in the first quarter. Copeland Capital Management LLC now owns 515,314 shares of the financial services provider valued at $37,618,000 after purchasing an additional 9,371 shares in the last quarter. Geode Capital Management LLC increased its stake in Lakeland Financial by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 472,553 shares of the financial services provider valued at $37,870,000 after purchasing an additional 3,747 shares in the last quarter. Boston Trust Walden Corp increased its stake in Lakeland Financial by 2.2% in the first quarter. Boston Trust Walden Corp now owns 369,458 shares of the financial services provider valued at $26,971,000 after buying an additional 7,777 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC bought a new position in shares of Lakeland Financial during the fourth quarter at a value of $21,921,000. Finally, Principal Financial Group Inc. increased its stake in shares of Lakeland Financial by 10.8% during the fourth quarter. Principal Financial Group Inc. now owns 234,055 shares of the financial services provider valued at $18,757,000 after acquiring an additional 22,811 shares in the last quarter. Institutional investors hold 80.34% of the company’s shares.

Insider Activity at Lakeland Financial

In other Lakeland Financial news, Director Robert E. Bartels, Jr. bought 755 shares of the company in a transaction that took place on Monday, June 13. The shares were purchased at an average price of $67.29 per share, for a total transaction of $50,803.95. Following the transaction, the administrator now directly owns 26,213 shares of the company, valued at $1,763,872.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. In other Lakeland Financial news, Director Robert E. Bartels, Jr. purchased 755 shares of the company in a transaction that took place on Monday, June 13. The shares were purchased at an average price of $67.29 per share, for a total transaction of $50,803.95. Following the transaction, the administrator now directly owns 26,213 shares of the company, valued at $1,763,872.77. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available via this hyperlink. Additionally, Chief Financial Officer Lisa M. O’Neill sold 1,000 shares of the company in a trade dated Monday, August 1. The shares were sold at an average price of $76.98, for a total value of $76,980.00. Following the sale, the CFO now owns 25,420 shares of the company, valued at approximately $1,956,831.60. Disclosure of this sale can be found here. 4.00% of the shares are held by insiders.

Performance of Lakeland Financial shares

LKFN Stock opened at $79.24 on Friday. The company has a fifty-day moving average price of $70.00 and a 200-day moving average price of $73.95. The company has a market capitalization of $2.01 billion, a P/E ratio of 20.80 and a beta of 0.77. Lakeland Financial Co. has a 52-week low of $62.44 and a 52-week high of $85.71.

Lakeland Financial (NASDAQ:LKFNGet a rating) last released its quarterly results on Monday, July 25. The financial services provider reported earnings per share (EPS) of $1.00 for the quarter, beating the consensus estimate of $0.96 by $0.04. Lakeland Financial had a net margin of 40.50% and a return on equity of 15.27%. In the same quarter of the previous year, the company had earned earnings per share of $0.95. As a group, sell-side analysts expect Lakeland Financial Co. to post 4 earnings per share for the current fiscal year.

Lakeland Financial Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 5. Shareholders of record on Monday, July 25 received a dividend of $0.40. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 2.02%. The ex-dividend date was Friday, July 22. Lakeland Financial’s dividend payout ratio is 41.99%.

Analysts set new price targets

Separately, StockNews.com upgraded Lakeland Financial shares from a “sell” to a “hold” rating in a Tuesday, July 26 research note.

About Lakeland Financial

(Get a rating)

Lakeland Financial Corporation operates as a bank holding company for Lake City Bank which provides various banking products and services. The company accepts various deposit products, such as interest-free deposits, interest-bearing checks, savings, money market, NOW and demand deposits. Its lending products include commercial and industrial loans, commercial and multi-family residential real estate, agribusiness and agriculture, 1-4 family consumer mortgages and other consumer loans.

Recommended Stories

Institutional ownership by quarter for Lakeland Financial (NASDAQ:LKFN)



Get news and reviews for Lakeland Financial Daily – Enter your email address below to receive a concise daily summary of breaking news and analyst ratings for Lakeland Financial and related companies with MarketBeat.com’s free daily email newsletter.

About Catherine Wilson

Check Also

Colonial Federal Savings Bank reported positive profits in the second quarter

In its first full quarter since its partial conversion to a stock bank, Quincy-based Colonial …