Vaughan Nelson Investment Management L.P. lifted its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 3.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 878,934 shares of the financial services provider’s stock after purchasing an additional 30,687 shares during the quarter. Vaughan Nelson Investment Management L.P. owned approximately 3.48% of Lakeland Financial worth $40,634,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Lakeland Financial by 12.2% in the 1st quarter. BlackRock Inc. now owns 1,899,704 shares of the financial services provider’s stock valued at $87,823,000 after buying an additional 206,682 shares in the last quarter. Neuberger Berman Group LLC boosted its stake in Lakeland Financial by 9.3% in the 1st quarter. Neuberger Berman Group LLC now owns 1,086,450 shares of the financial services provider’s stock valued at $50,227,000 after buying an additional 92,780 shares in the last quarter. Northern Trust Corp boosted its stake in Lakeland Financial by 0.5% in the 1st quarter. Northern Trust Corp now owns 668,803 shares of the financial services provider’s stock valued at $30,919,000 after buying an additional 3,354 shares in the last quarter. Segall Bryant & Hamill LLC boosted its stake in Lakeland Financial by 89.4% in the 4th quarter. Segall Bryant & Hamill LLC now owns 377,646 shares of the financial services provider’s stock valued at $18,312,000 after buying an additional 178,286 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Lakeland Financial by 21.7% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 330,979 shares of the financial services provider’s stock valued at $15,301,000 after buying an additional 59,037 shares in the last quarter. 72.43% of the stock is currently owned by institutional investors.
Get Lakeland Financial alerts:Several equities analysts have issued reports on the company. Zacks Investment Research upgraded Lakeland Financial from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Saturday, April 7th. BidaskClub upgraded Lakeland Financial from a “hold” rating to a “buy” rating in a research report on Saturday, April 7th.
In other Lakeland Financial news, insider Kristin Pruitt sold 1,200 shares of Lakeland Financial stock in a transaction on Friday, March 2nd. The stock was sold at an average price of $46.00, for a total value of $55,200.00. Following the completion of the transaction, the insider now owns 7,900 shares in the company, valued at approximately $363,400. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Lisa M. O’neill sold 1,050 shares of Lakeland Financial stock in a transaction on Monday, March 12th. The shares were sold at an average price of $48.26, for a total value of $50,673.00. Following the completion of the transaction, the chief financial officer now owns 16,756 shares of the company’s stock, valued at approximately $808,644.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,520 shares of company stock valued at $941,623. Corporate insiders own 4.40% of the company’s stock.
Shares of Lakeland Financial opened at $49.40 on Wednesday, according to MarketBeat. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.07. Lakeland Financial Co. has a 52-week low of $41.30 and a 52-week high of $52.43. The firm has a market capitalization of $1.25 billion, a price-to-earnings ratio of 20.70, a price-to-earnings-growth ratio of 1.67 and a beta of 0.86.
Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.70 by $0.01. Lakeland Financial had a return on equity of 14.09% and a net margin of 28.94%. The firm had revenue of $46.10 million during the quarter, compared to the consensus estimate of $45.57 million. equities research analysts forecast that Lakeland Financial Co. will post 2.97 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 7th. Shareholders of record on Wednesday, April 25th were given a $0.26 dividend. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Tuesday, April 24th. This represents a $1.04 annualized dividend and a yield of 2.11%. Lakeland Financial’s payout ratio is presently 43.51%.
Lakeland Financial Profile
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.
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