6,442 Shares in Lakeland Financial Co. (LKFN) Acquired by Macquarie Group Ltd.
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.
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.
COPYRIGHT VIOLATION WARNING: This story was first reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another publication, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this story can be read at https://www.watchlistnews.com/6442-shares-in-lakeland-financial-co-lkfn-acquired-by-macquarie-group-ltd/1771240.html.
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.
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).
Receive News & Ratings for Lakeland Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Financial and related companies with MarketBeat.com's FREE daily email newsletter.