Barings LLC continued to hold its stake in Lakeland Financial Co. (NASDAQ:LKFN) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,750 shares of the financial services provider’s stock at the end of the first quarter. Barings LLC owned about 0.05% of Lakeland Financial worth $550,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the stock. FMR LLC raised its position in shares of Lakeland Financial by 4.7% in the fourth quarter. FMR LLC now owns 1,850,010 shares of the financial services provider’s stock worth $87,616,000 after buying an additional 83,195 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Lakeland Financial by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,055,655 shares of the financial services provider’s stock worth $45,519,000 after buying an additional 35,653 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lakeland Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock worth $43,992,000 after buying an additional 28,198 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Lakeland Financial by 0.8% in the first quarter. Victory Capital Management Inc. now owns 911,935 shares of the financial services provider’s stock worth $39,323,000 after buying an additional 7,209 shares in the last quarter. Finally, Columbia Wanger Asset Management LLC raised its position in shares of Lakeland Financial by 2.7% in the first quarter. Columbia Wanger Asset Management LLC now owns 583,598 shares of the financial services provider’s stock worth $25,165,000 after buying an additional 15,506 shares in the last quarter. 69.57% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lakeland Financial Co. (NASDAQ:LKFN) traded down 0.37% during mid-day trading on Thursday, reaching $46.09. The company had a trading volume of 52,574 shares. Lakeland Financial Co. has a 52-week low of $33.93 and a 52-week high of $48.88. The company’s 50-day moving average is $45.93 and its 200 day moving average is $44.74. The stock has a market capitalization of $1.15 billion, a P/E ratio of 20.67 and a beta of 0.83.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The firm had revenue of $42.61 million during the quarter, compared to analyst estimates of $41.86 million. Lakeland Financial had a return on equity of 13.89% and a net margin of 36.06%. Analysts anticipate that Lakeland Financial Co. will post $2.37 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Tuesday, July 25th will be paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Friday, July 21st. Lakeland Financial’s payout ratio is 39.46%.

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A number of research firms have recently commented on LKFN. BidaskClub upgraded Lakeland Financial from a “sell” rating to a “hold” rating in a report on Friday, June 9th. Zacks Investment Research downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a report on Friday, April 28th. DA Davidson upgraded Lakeland Financial from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $43.00 price objective on Lakeland Financial and gave the stock a “hold” rating in a report on Tuesday, April 18th.

In related news, insider Batty Jill A. De sold 600 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total value of $25,566.00. Following the completion of the sale, the insider now owns 9,232 shares of the company’s stock, valued at $393,375.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael E. Gavin sold 2,500 shares of the firm’s stock in a transaction on Monday, May 22nd. The stock was sold at an average price of $42.93, for a total value of $107,325.00. Following the completion of the sale, the executive vice president now directly owns 2,018 shares of the company’s stock, valued at approximately $86,632.74. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Lakeland Financial 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.

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

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