KFG Wealth Management LLC Reduces Stock Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

KFG Wealth Management LLC reduced its holdings in Lakeland Financial Co. (NASDAQ:LKFN) by 22.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,527 shares of the financial services provider’s stock after selling 5,000 shares during the period. KFG Wealth Management LLC’s holdings in Lakeland Financial were worth $1,142,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. SYM FINANCIAL Corp acquired a new position in shares of Lakeland Financial in the 3rd quarter valued at $1,544,000. Illinois Municipal Retirement Fund acquired a new position in shares of Lakeland Financial in the 3rd quarter valued at $724,000. Kennedy Capital Management LLC raised its position in Lakeland Financial by 41.0% during the third quarter. Kennedy Capital Management LLC now owns 113,114 shares of the financial services provider’s stock worth $5,368,000 after acquiring an additional 32,912 shares during the period. Northern Trust Corp raised its position in Lakeland Financial by 2.8% during the third quarter. Northern Trust Corp now owns 463,234 shares of the financial services provider’s stock worth $21,985,000 after acquiring an additional 12,618 shares during the period. Finally, Heartland Advisors Inc. acquired a new position in Lakeland Financial during the third quarter worth $1,193,000. 81.15% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Financial Price Performance

Shares of NASDAQ LKFN traded up $2.53 during mid-day trading on Friday, reaching $61.65. The company’s stock had a trading volume of 116,401 shares, compared to its average volume of 126,082. The stock has a 50-day moving average of $63.33 and a two-hundred day moving average of $60.03. The stock has a market capitalization of $1.60 billion, a P/E ratio of 16.20 and a beta of 0.67. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.88 and a current ratio of 0.88. Lakeland Financial Co. has a 1-year low of $43.05 and a 1-year high of $73.22.

Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.98 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. The business had revenue of $65.81 million during the quarter, compared to analysts’ expectations of $59.81 million. Lakeland Financial had a net margin of 23.85% and a return on equity of 14.89%. During the same period in the prior year, the business earned $1.01 earnings per share. On average, equities research analysts anticipate that Lakeland Financial Co. will post 3.49 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 25th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.11%. The ex-dividend date is Wednesday, April 24th. Lakeland Financial’s dividend payout ratio (DPR) is 52.60%.

Insider Activity

In other news, Director Michael L. Kubacki sold 26,600 shares of the stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $71.51, for a total value of $1,902,166.00. Following the completion of the sale, the director now directly owns 39,800 shares in the company, valued at $2,846,098. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO David M. Findlay sold 12,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $65.26, for a total value of $783,120.00. Following the completion of the sale, the chief executive officer now owns 14,175 shares of the company’s stock, valued at $925,060.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael L. Kubacki sold 26,600 shares of the company’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $71.51, for a total transaction of $1,902,166.00. Following the completion of the sale, the director now directly owns 39,800 shares of the company’s stock, valued at approximately $2,846,098. The disclosure for this sale can be found here. Insiders sold 53,728 shares of company stock worth $3,670,449 over the last three months. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

LKFN has been the subject of a number of research analyst reports. Raymond James upped their price objective on shares of Lakeland Financial from $60.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Stephens upped their price objective on shares of Lakeland Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th.

Lakeland Financial Profile

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.