Monarch Capital Management Inc. raised its stake in Lakeland Financial Corp. (NASDAQ:LKFN) by 48.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 230,803 shares of the financial services provider’s stock after buying an additional 75,753 shares during the period. Lakeland Financial Corp. makes up about 3.1% of Monarch Capital Management Inc.’s holdings, making the stock its 6th largest position. Monarch Capital Management Inc. owned approximately 0.93% of Lakeland Financial Corp. worth $8,175,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Teachers Advisors Inc. increased its position in Lakeland Financial Corp. by 0.4% in the first quarter. Teachers Advisors Inc. now owns 32,454 shares of the financial services provider’s stock valued at $1,486,000 after buying an additional 131 shares during the last quarter. BlackRock Advisors LLC increased its position in Lakeland Financial Corp. by 2.4% in the second quarter. BlackRock Advisors LLC now owns 8,197 shares of the financial services provider’s stock valued at $385,000 after buying an additional 193 shares during the last quarter. Teacher Retirement System of Texas increased its position in Lakeland Financial Corp. by 5.4% in the second quarter. Teacher Retirement System of Texas now owns 5,579 shares of the financial services provider’s stock valued at $262,000 after buying an additional 287 shares during the last quarter. Swiss National Bank increased its position in Lakeland Financial Corp. by 1.5% in the second quarter. Swiss National Bank now owns 27,300 shares of the financial services provider’s stock valued at $1,283,000 after buying an additional 400 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Lakeland Financial Corp. by 6.1% in the second quarter. UBS Asset Management Americas Inc. now owns 6,984 shares of the financial services provider’s stock valued at $328,000 after buying an additional 404 shares during the last quarter. Hedge funds and other institutional investors own 51.57% of the company’s stock.

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

Shares of Lakeland Financial Corp. (NASDAQ:LKFN) traded up 1.30% during mid-day trading on Wednesday, hitting $43.63. 93,054 shares of the stock traded hands. The company has a market capitalization of $1.09 billion, a PE ratio of 21.78 and a beta of 0.67. Lakeland Financial Corp. has a 1-year low of $26.53 and a 1-year high of $44.85. The company’s 50-day moving average price is $36.38 and its 200 day moving average price is $34.17.

Lakeland Financial Corp. (NASDAQ:LKFN) last released its quarterly earnings results on Tuesday, October 25th. The financial services provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.03. Lakeland Financial Corp. had a net margin of 30.55% and a return on equity of 12.36%. Equities research analysts forecast that Lakeland Financial Corp. will post $2.03 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, November 7th. Investors of record on Tuesday, October 25th were issued a $0.19 dividend. This represents a $0.76 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend was Friday, October 21st. Lakeland Financial Corp.’s dividend payout ratio (DPR) is currently 37.81%.

Several research analysts have weighed in on the stock. Keefe, Bruyette & Woods lowered their price objective on shares of Lakeland Financial Corp. from $48.00 to $32.00 and set a “market perform” rating on the stock in a report on Tuesday, August 9th. DA Davidson assumed coverage on shares of Lakeland Financial Corp. in a report on Thursday, July 21st. They issued a “neutral” rating for the company. Finally, Zacks Investment Research upgraded shares of Lakeland Financial Corp. from a “hold” rating to a “buy” rating and set a $42.00 target price for the company in a report on Thursday, October 27th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $37.00.

In related news, CEO David M. Findlay sold 8,200 shares of Lakeland Financial Corp. stock in a transaction on Friday, October 28th. The shares were sold at an average price of $36.50, for a total value of $299,300.00. Following the sale, the chief executive officer now owns 117,975 shares in the company, valued at $4,306,087.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric H. Ottinger sold 2,672 shares of Lakeland Financial Corp. stock in a transaction on Friday, October 28th. The shares were sold at an average price of $36.75, for a total transaction of $98,196.00. Following the completion of the sale, the insider now owns 20,000 shares in the company, valued at approximately $735,000. The disclosure for this sale can be found here. 4.90% of the stock is currently owned by corporate insiders.

Lakeland Financial Corp. Company Profile

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.

5 Day Chart for NASDAQ:LKFN

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