Ameriprise Financial Inc. Has $4,878,000 Position in Lakeland Financial Corp. (LKFN)
Ameriprise Financial Inc. boosted its position in shares of Lakeland Financial Corp. (NASDAQ:LKFN) by 1.1% during the second quarter, Holdings Channel reports. The institutional investor owned 103,767 shares of the financial services provider’s stock after buying an additional 1,114 shares during the period. Ameriprise Financial Inc. owned about 0.63% of Lakeland Financial Corp. worth $4,878,000 as of its most recent filing with the SEC.
Other large investors have also recently bought and sold shares of the company. GSA Capital Partners LLP raised its position in shares of Lakeland Financial Corp. by 28.8% in the second quarter. GSA Capital Partners LLP now owns 8,500 shares of the financial services provider’s stock valued at $400,000 after buying an additional 1,900 shares in the last quarter. Virginia Retirement System bought a new position in shares of Lakeland Financial Corp. during the first quarter valued at about $449,000. Swiss National Bank raised its position in shares of 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 in the last quarter. Emerald Mutual Fund Advisers Trust bought a new position in shares of Lakeland Financial Corp. during the second quarter valued at about $1,461,000. Finally, First Trust Advisors LP raised its position in shares of Lakeland Financial Corp. by 96.2% in the second quarter. First Trust Advisors LP now owns 31,091 shares of the financial services provider’s stock valued at $1,462,000 after buying an additional 15,246 shares in the last quarter. 44.53% of the stock is currently owned by institutional investors.
Lakeland Financial Corp. (NASDAQ:LKFN) traded up 0.26% on Friday, reaching $34.41. 60,548 shares of the company’s stock traded hands. The company has a market cap of $856.60 million, a PE ratio of 17.80 and a beta of 0.82. The firm’s 50 day moving average price is $35.49 and its 200 day moving average price is $33.07. Lakeland Financial Corp. has a 12 month low of $26.53 and a 12 month high of $37.74.
Lakeland Financial Corp. (NASDAQ:LKFN) last posted its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.76 EPS for the quarter, topping the consensus estimate of $0.71 by $0.05. Lakeland Financial Corp. had a net margin of 30.35% and a return on equity of 12.19%. On average, equities analysts expect that Lakeland Financial Corp. will post $2.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Tuesday, October 25th will be paid a $0.19 dividend. This represents a $0.76 annualized dividend and a dividend yield of 2.21%. The ex-dividend date is Friday, October 21st. Lakeland Financial Corp.’s payout ratio is 38.66%.
LKFN has been the topic of several research analyst reports. DA Davidson initiated coverage on shares of Lakeland Financial Corp. in a research note on Thursday, July 21st. They set a “neutral” rating on the stock. Keefe, Bruyette & Woods increased their target price on shares of Lakeland Financial Corp. from $45.00 to $48.00 and gave the stock a “market perform” rating in a research note on Wednesday, July 27th. Finally, Zacks Investment Research raised shares of Lakeland Financial Corp. from a “hold” rating to a “buy” rating and set a $39.00 target price on the stock in a research note on Monday, September 26th. Six equities research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average price target of $39.33.
In related news, insider Kevin L. Deardorff sold 4,263 shares of Lakeland Financial Corp. stock in a transaction on Friday, August 12th. The shares were sold at an average price of $35.24, for a total value of $150,228.12. Following the transaction, the insider now directly owns 43,324 shares of the company’s stock, valued at $1,526,737.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Charles E. Niemier bought 554 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was purchased at an average cost of $52.99 per share, for a total transaction of $29,356.46. Following the completion of the purchase, the director now owns 144,361 shares of the company’s stock, valued at $7,649,689.39. The disclosure for this purchase can be found here. 4.90% of the stock is currently owned by corporate insiders.
About Lakeland Financial Corp.
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.
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