Citadel Advisors LLC reduced its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 4.3% in the 3rd quarter, Holdings Channel reports. The firm owned 100,075 shares of the financial services provider’s stock after selling 4,455 shares during the quarter. Citadel Advisors LLC’s holdings in Lakeland Financial were worth $4,652,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. United Services Automobile Association bought a new position in Lakeland Financial during the 2nd quarter worth $202,000. Engineers Gate Manager LP bought a new position in Lakeland Financial during the 3rd quarter worth $358,000. WINTON GROUP Ltd raised its position in Lakeland Financial by 14.0% during the 3rd quarter. WINTON GROUP Ltd now owns 10,005 shares of the financial services provider’s stock worth $465,000 after purchasing an additional 1,226 shares during the last quarter. BlueMountain Capital Management LLC raised its position in Lakeland Financial by 52.0% during the 2nd quarter. BlueMountain Capital Management LLC now owns 10,369 shares of the financial services provider’s stock worth $500,000 after purchasing an additional 3,547 shares during the last quarter. Finally, Alps Advisors Inc. bought a new position in Lakeland Financial during the 2nd quarter worth $520,000. 70.95% of the stock is owned by institutional investors and hedge funds.

In other Lakeland Financial news, Director M Scott Welch acquired 2,000 shares of the stock in a transaction dated Wednesday, October 31st. The stock was purchased at an average cost of $43.61 per share, with a total value of $87,220.00. Following the transaction, the director now owns 136,448 shares in the company, valued at approximately $5,950,497.28. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, insider Batty Jill A. De sold 1,800 shares of Lakeland Financial stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $48.81, for a total value of $87,858.00. Following the completion of the transaction, the insider now directly owns 10,386 shares of the company’s stock, valued at $506,940.66. The disclosure for this sale can be found here. Over the last three months, insiders bought 10,124 shares of company stock valued at $430,613. Corporate insiders own 4.40% of the company’s stock.

LKFN stock opened at $43.08 on Friday. Lakeland Financial Co. has a 1-year low of $39.41 and a 1-year high of $51.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The stock has a market capitalization of $1.10 billion, a PE ratio of 18.03, a price-to-earnings-growth ratio of 1.40 and a beta of 0.75.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.80 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.02. Lakeland Financial had a return on equity of 15.54% and a net margin of 30.88%. The firm had revenue of $48.36 million during the quarter, compared to analyst estimates of $48.60 million. Analysts expect that Lakeland Financial Co. will post 3.09 earnings per share for the current year.

Several research analysts recently issued reports on LKFN shares. ValuEngine lowered Lakeland Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Boenning Scattergood reaffirmed a “hold” rating on shares of Lakeland Financial in a research report on Friday, October 26th. BidaskClub raised Lakeland Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Finally, Zacks Investment Research raised Lakeland Financial from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a research report on Wednesday, October 31st. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. The stock has an average rating of “Hold” and a consensus target price of $49.00.

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About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

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

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