Susquehanna International Group LLP Decreases Stock Holdings in Lakeland Financial Corporation $LKFN

Susquehanna International Group LLP lowered its stake in shares of Lakeland Financial Corporation (NASDAQ:LKFN) by 75.2% during the second quarter, Holdings Channel.com reports. The firm owned 6,060 shares of the financial services provider’s stock after selling 18,345 shares during the quarter. Susquehanna International Group LLP’s holdings in Lakeland Financial were worth $374,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Osaic Holdings Inc. lifted its position in shares of Lakeland Financial by 186.0% during the second quarter. Osaic Holdings Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after buying an additional 305 shares during the last quarter. Global Retirement Partners LLC purchased a new position in shares of Lakeland Financial in the 2nd quarter worth approximately $38,000. EverSource Wealth Advisors LLC grew its position in shares of Lakeland Financial by 1,212.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $39,000 after buying an additional 582 shares during the last quarter. Allworth Financial LP bought a new position in shares of Lakeland Financial during the 2nd quarter worth approximately $41,000. Finally, Rockefeller Capital Management L.P. lifted its position in Lakeland Financial by 40.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 729 shares of the financial services provider’s stock valued at $42,000 after acquiring an additional 210 shares during the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Analyst Ratings Changes

LKFN has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. Weiss Ratings downgraded Lakeland Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. One equities research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $66.50.

Lakeland Financial Stock Performance

Shares of LKFN stock opened at $58.82 on Wednesday. Lakeland Financial Corporation has a fifty-two week low of $54.36 and a fifty-two week high of $68.55. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 13.49 and a beta of 0.71. The stock’s 50-day simple moving average is $61.51 and its 200-day simple moving average is $60.09.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The firm had revenue of $70.87 million during the quarter, compared to analyst estimates of $72.11 million. Lakeland Financial had a net margin of 26.04% and a return on equity of 14.67%. During the same period last year, the firm posted $1.04 EPS. As a group, equities analysts forecast that Lakeland Financial Corporation will post 4.38 earnings per share for the current year.

Lakeland Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 5th. Shareholders of record on Saturday, July 25th were paid a dividend of $0.52 per share. The ex-dividend date was Friday, July 24th. This represents a $2.08 dividend on an annualized basis and a yield of 3.5%. Lakeland Financial’s dividend payout ratio is presently 47.71%.

Lakeland Financial Profile

Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.

Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.