Bedel Financial Consulting Inc. purchased a new position in shares of Lakeland Financial Co. (NASDAQ:LKFN) during the 4th quarter, HoldingsChannel reports. The firm purchased 6,450 shares of the financial services provider’s stock, valued at approximately $313,000.

Several other institutional investors and hedge funds have also made changes to their positions in LKFN. Neuberger Berman Group LLC increased its stake in shares of Lakeland Financial by 80.2% during the 3rd quarter. Neuberger Berman Group LLC now owns 631,245 shares of the financial services provider’s stock worth $30,754,000 after purchasing an additional 280,980 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Lakeland Financial by 4.6% during the 3rd quarter. Victory Capital Management Inc. now owns 950,549 shares of the financial services provider’s stock worth $46,311,000 after purchasing an additional 41,769 shares during the last quarter. Vaughan Nelson Investment Management L.P. increased its stake in shares of Lakeland Financial by 4.0% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 858,109 shares of the financial services provider’s stock worth $41,807,000 after purchasing an additional 32,875 shares during the last quarter. State Street Corp increased its stake in shares of Lakeland Financial by 6.0% during the 2nd quarter. State Street Corp now owns 482,021 shares of the financial services provider’s stock worth $22,113,000 after purchasing an additional 27,167 shares during the last quarter. Finally, Citadel Advisors LLC increased its stake in shares of Lakeland Financial by 134.2% during the 3rd quarter. Citadel Advisors LLC now owns 47,161 shares of the financial services provider’s stock worth $2,297,000 after purchasing an additional 27,026 shares during the last quarter. Institutional investors own 70.48% of the company’s stock.

In other news, Director M Scott Welch bought 25,000 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were acquired at an average cost of $45.64 per share, for a total transaction of $1,141,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Michael E. Gavin sold 4,558 shares of the firm’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $45.95, for a total transaction of $209,440.10. Following the completion of the transaction, the executive vice president now owns 7,800 shares in the company, valued at $358,410. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Lakeland Financial Co. (NASDAQ LKFN) opened at $45.76 on Friday. Lakeland Financial Co. has a 12 month low of $39.68 and a 12 month high of $52.43. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.07. The stock has a market cap of $1,162.45, a price-to-earnings ratio of 20.43, a P/E/G ratio of 1.57 and a beta of 0.86.

Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. Lakeland Financial had a net margin of 28.42% and a return on equity of 13.67%. The business had revenue of $44.85 million for the quarter, compared to analyst estimates of $44.64 million. equities analysts anticipate that Lakeland Financial Co. will post 2.96 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Monday, February 5th. Investors of record on Thursday, January 25th were paid a $0.22 dividend. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. Lakeland Financial’s payout ratio is presently 39.29%.

Several research analysts have recently commented on the stock. ValuEngine upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research note on Saturday, January 13th. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price target on shares of Lakeland Financial in a research note on Friday, December 22nd. Finally, BidaskClub lowered shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Lakeland Financial currently has a consensus rating of “Buy” and an average price target of $52.00.

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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.

Want to see what other hedge funds are holding LKFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Financial Co. (NASDAQ:LKFN).

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

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