Macquarie Group Ltd. bought a new stake in Lakeland Financial Co. (NASDAQ:LKFN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 6,442 shares of the financial services provider’s stock, valued at approximately $314,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. SG Americas Securities LLC acquired a new stake in Lakeland Financial in the third quarter valued at approximately $208,000. Principal Financial Group Inc. lifted its stake in shares of Lakeland Financial by 69.2% during the third quarter. Principal Financial Group Inc. now owns 14,174 shares of the financial services provider’s stock worth $690,000 after buying an additional 5,796 shares during the period. Chicago Equity Partners LLC lifted its stake in shares of Lakeland Financial by 15.9% during the third quarter. Chicago Equity Partners LLC now owns 34,876 shares of the financial services provider’s stock worth $1,699,000 after buying an additional 4,776 shares during the period. Legato Capital Management LLC acquired a new stake in shares of Lakeland Financial during the third quarter worth $455,000. Finally, Bridge City Capital LLC acquired a new stake in shares of Lakeland Financial during the third quarter worth $996,000. Institutional investors own 69.98% of the company’s stock.

Shares of Lakeland Financial Co. (NASDAQ LKFN) opened at $49.75 on Monday. Lakeland Financial Co. has a one year low of $39.68 and a one year high of $52.43. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07. The company has a market cap of $1,253.45, a price-to-earnings ratio of 21.44, a PEG ratio of 2.09 and a beta of 0.83.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. The business had revenue of $44.12 million during the quarter, compared to the consensus estimate of $43.91 million. research analysts predict that Lakeland Financial Co. will post 2.38 EPS for the current fiscal year.

Several equities research analysts have recently commented on LKFN shares. ValuEngine downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Saturday, October 28th. Finally, BidaskClub downgraded shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $49.00.

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Lakeland Financial 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.

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

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