Lakeland Financial Co. (NASDAQ: LKFN) Shares sold by Russell Investments Group Ltd.

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Lakeland Financial LogoRussell Investments Group Ltd. reduced its holdings of Lakeland Financial Co. (NASDAQ: LKFN – Get Rating) stock by 12.1% in the fourth quarter, according to the company in its latest filing with the Securities & Exchange Commission. The fund held 14,149 shares of the financial services provider after selling 1,953 shares during the period. The holdings of Russell Investments Group Ltd. in Lakeland Financial were worth $1,133,000 at the end of the most recent period.

A number of other institutional investors have also recently bought and sold shares of LKFN. Copeland Capital Management LLC increased its stake in Lakeland Financial by 2.9% in the fourth quarter. Copeland Capital Management LLC now owns 505,943 shares of the financial services provider valued at $40,546,000 after purchasing an additional 14,066 shares during the period. Gilman Hill Asset Management LLC acquired a new stock position in Lakeland Financial in Q4 worth $261,000. Comerica Bank increased its position in Lakeland Financial shares by 148.9% during the third quarter. Comerica Bank now owns 36,118 shares of the financial services provider worth $2,822,000 after buying an additional 21,605 shares last quarter. American International Group Inc. increased its position in Lakeland Financial shares by 12.5% ​​during the third quarter. American International Group Inc. now owns 15,388 shares of the financial services provider worth $1,096,000 after buying 1,713 more shares last quarter. Finally, Bank of New York Mellon Corp increased its position in Lakeland Financial shares by 73.9% during the third quarter. Bank of New York Mellon Corp now owns 321,703 shares of the financial services provider worth $22,918,000 after buying an additional 136,718 shares last quarter. 81.43% of the shares are held by hedge funds and other institutional investors.

Shares of Lakeland Financial opened at $72.83 on Monday. Lakeland Financial Co. has a 52-week low of $56.06 and a 52-week high of $85.71. The company has a 50-day moving average of $78.32 and a 200-day moving average of $76.62. The company has a debt ratio of 0.11, a quick ratio of 0.86 and a current ratio of 0.86. The stock has a market capitalization of $1.88 billion, a PE ratio of 19.47 and a beta of 0.73.

Lakeland Financial (NASDAQ:LKFN – Get Rating) last released its results on Tuesday, January 25. The financial services provider reported EPS of $0.95 for the quarter, missing Thomson Reuters consensus estimate of $0.97 per ($0.02). Lakeland Financial had a return on equity of 14.09% and a net margin of 40.23%. The company posted revenue of $54.72 million for the quarter, versus analyst estimates of $57.47 million. During the same period a year earlier, the company posted EPS of $0.97. Equity research analysts expect Lakeland Financial Co. to post earnings per share of 3.7 for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, February 7. Investors of record on Tuesday, January 25 received a dividend of $0.40. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.34. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 2.20%. The ex-dividend date was Monday, January 24. Lakeland Financial’s dividend payout ratio (DPR) is currently 42.78%.

In other Lakeland Financial news, Director Steven D. Ross sold 2,300 shares of Lakeland Financial in a trade that took place on Tuesday February 8th. The stock was sold at an average price of $82.00, for a total value of $188,600.00. The sale was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Additionally, SVP Jonathan P. Steiner sold 1,500 shares of the company in a transaction that took place on Friday, January 28. The shares were sold at an average price of $78.30, for a total value of $117,450.00. The disclosure of this sale can be found here. During the last quarter, insiders sold 71,521 shares of the company worth $5,719,506. 4.00% of the shares are held by insiders of the company.

LKFN has been the subject of several recent research reports. Zacks Investment Research downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a Wednesday, April 6 research note. StockNews.com launched coverage on Lakeland Financial shares in a Thursday, March 31 report. They issued a “sell” rating on the stock.

Lakeland Financial Profile (Get an assessment)

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.

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



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