BKD Wealth Advisors LLC raised its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 50.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,221 shares of the financial services provider’s stock after buying an additional 9,816 shares during the quarter. BKD Wealth Advisors LLC owned about 0.12% of Lakeland Financial worth $1,417,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. BNP Paribas Arbitrage SA grew its holdings in shares of Lakeland Financial by 1,811.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 2,989 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Lakeland Financial in the third quarter valued at $208,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of Lakeland Financial in the second quarter valued at $234,000. Prudential Financial Inc. grew its holdings in shares of Lakeland Financial by 4.4% in the second quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 230 shares in the last quarter. Finally, Legal & General Group Plc grew its holdings in shares of Lakeland Financial by 2.7% in the second quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 156 shares in the last quarter. 69.91% of the stock is owned by institutional investors and hedge funds.
Lakeland Financial Co. (NASDAQ:LKFN) traded up $0.57 during midday trading on Thursday, reaching $51.43. 89,700 shares of the company’s stock traded hands, compared to its average volume of 112,973. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $1,281.41, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. Lakeland Financial Co. has a 52 week low of $39.68 and a 52 week high of $52.43.
Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. The company had revenue of $44.12 million during the quarter, compared to analyst estimates of $43.91 million. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. research analysts anticipate that Lakeland Financial Co. will post 2.39 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Shareholders of record on Thursday, January 25th will be paid a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 1.71%. The ex-dividend date is Wednesday, January 24th. Lakeland Financial’s payout ratio is 37.93%.
A number of research firms recently weighed in on LKFN. ValuEngine raised shares of Lakeland Financial from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Zacks Investment Research raised shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a report on Saturday, January 13th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $50.00 target price on shares of Lakeland Financial in a report on Friday, December 22nd. Finally, BidaskClub lowered shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $52.00.
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About Lakeland Financial
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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