Lakeland Financial Co. (NASDAQ:LKFN) is Monarch Capital Management Inc.’s 4th Largest Position

Monarch Capital Management Inc. reduced its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 0.6% in the 2nd quarter, Holdings Channel.com reports. The firm owned 194,676 shares of the financial services provider’s stock after selling 1,084 shares during the period. Lakeland Financial comprises about 3.3% of Monarch Capital Management Inc.’s holdings, making the stock its 4th largest position. Monarch Capital Management Inc.’s holdings in Lakeland Financial were worth $9,117,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Raymond James & Associates lifted its stake in shares of Lakeland Financial by 53.9% in the 4th quarter. Raymond James & Associates now owns 7,702 shares of the financial services provider’s stock valued at $309,000 after purchasing an additional 2,696 shares during the period. Principal Financial Group Inc. lifted its stake in shares of Lakeland Financial by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 11,070 shares of the financial services provider’s stock valued at $445,000 after purchasing an additional 420 shares during the period. Bank of America Corp DE lifted its stake in shares of Lakeland Financial by 30.2% in the 4th quarter. Bank of America Corp DE now owns 131,102 shares of the financial services provider’s stock valued at $5,264,000 after purchasing an additional 30,394 shares during the period. Legal & General Group Plc lifted its stake in shares of Lakeland Financial by 13.8% in the 4th quarter. Legal & General Group Plc now owns 4,356 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 529 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Lakeland Financial by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,134 shares of the financial services provider’s stock valued at $42,134,000 after purchasing an additional 11,809 shares during the period. 74.17% of the stock is owned by institutional investors and hedge funds.

In related news, insider Kristin Pruitt sold 1,600 shares of the firm’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $46.00, for a total transaction of $73,600.00. Following the completion of the transaction, the insider now owns 7,494 shares of the company’s stock, valued at approximately $344,724. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 4.60% of the stock is owned by company insiders.

Shares of LKFN traded down $0.10 on Monday, reaching $42.77. The stock had a trading volume of 1,124 shares, compared to its average volume of 81,960. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 13.66, a price-to-earnings-growth ratio of 1.32 and a beta of 0.94. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.06. The company’s 50-day moving average price is $45.27. Lakeland Financial Co. has a 12-month low of $37.79 and a 12-month high of $51.25.

Lakeland Financial (NASDAQ:LKFN) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.85 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.04. The company had revenue of $50.00 million during the quarter, compared to analysts’ expectations of $49.78 million. Lakeland Financial had a return on equity of 16.37% and a net margin of 33.35%. As a group, sell-side analysts predict that Lakeland Financial Co. will post 3.26 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Thursday, July 25th were given a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 2.81%. The ex-dividend date of this dividend was Wednesday, July 24th. Lakeland Financial’s dividend payout ratio (DPR) is presently 38.34%.

A number of research firms have recently commented on LKFN. Boenning Scattergood restated a “hold” rating on shares of Lakeland Financial in a research note on Thursday, May 2nd. Zacks Investment Research upgraded Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, August 7th. BidaskClub upgraded Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Saturday, August 3rd. Finally, ValuEngine upgraded Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st.

Lakeland Financial Company Profile

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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Institutional Ownership by Quarter for Lakeland Financial (NASDAQ:LKFN)

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