Aperio Group LLC Sells 1,730 Shares of Lakeland Financial Co. (LKFN)
Aperio Group LLC cut its position in Lakeland Financial Co. (NASDAQ:LKFN) by 13.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,276 shares of the financial services provider’s stock after selling 1,730 shares during the quarter. Aperio Group LLC’s holdings in Lakeland Financial were worth $547,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. SG Americas Securities LLC bought a new stake in Lakeland Financial in the 3rd quarter valued at about $208,000. Macquarie Group Ltd. bought a new stake in Lakeland Financial in the 3rd quarter valued at about $314,000. Legato Capital Management LLC bought a new stake in Lakeland Financial in the 3rd quarter valued at about $455,000. Engineers Gate Manager LP bought a new stake in Lakeland Financial in the 4th quarter valued at about $519,000. Finally, Grandeur Peak Global Advisors LLC bought a new stake in Lakeland Financial in the 3rd quarter valued at about $689,000. Hedge funds and other institutional investors own 69.73% of the company’s stock.
In other Lakeland Financial news, insider Kristin Pruitt sold 1,200 shares of the business’s stock in a transaction dated Friday, March 2nd. The shares were sold at an average price of $46.00, for a total transaction of $55,200.00. Following the sale, the insider now directly owns 7,900 shares in the company, valued at approximately $363,400. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael E. Gavin sold 4,558 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $45.95, for a total transaction of $209,440.10. Following the sale, 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. Insiders have sold a total of 8,318 shares of company stock worth $383,569 over the last 90 days. 5.00% of the stock is owned by insiders.
Shares of Lakeland Financial Co. (LKFN) opened at $46.29 on Friday. Lakeland Financial Co. has a 52-week low of $39.68 and a 52-week high of $52.43. The company has a market cap of $1,133.93, a PE ratio of 20.67, a price-to-earnings-growth ratio of 1.53 and a beta of 0.90. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.95.
Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. Lakeland Financial had a net margin of 28.42% and a return on equity of 13.67%. The company had revenue of $44.85 million for the quarter, compared to the consensus estimate of $44.64 million. sell-side analysts anticipate that Lakeland Financial Co. will post 2.96 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Thursday, January 25th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Wednesday, January 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.90%. Lakeland Financial’s dividend payout ratio (DPR) is 39.29%.
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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