Lakeland Financial Corporation (LKFN) Shares Sold by PDT Partners LLC
PDT Partners LLC decreased its holdings in shares of Lakeland Financial Corporation (NASDAQ:LKFN) by 0.5% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,000 shares of the financial services provider’s stock after selling 57 shares during the quarter. PDT Partners LLC’s holdings in Lakeland Financial Corporation were worth $505,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also modified their holdings of LKFN. SG Americas Securities LLC purchased a new position in shares of Lakeland Financial Corporation during the first quarter valued at $102,000. BNP Paribas Arbitrage SA grew its holdings in shares of Lakeland Financial Corporation by 1,811.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,989 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Lakeland Financial Corporation by 1.5% during the first quarter. Prudential Financial Inc. now owns 5,272 shares of the financial services provider’s stock valued at $228,000 after buying an additional 80 shares in the last quarter. Airain ltd purchased a new position in shares of Lakeland Financial Corporation during the second quarter valued at $229,000. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Lakeland Financial Corporation by 3.3% during the first quarter. PNC Financial Services Group Inc. now owns 6,200 shares of the financial services provider’s stock valued at $267,000 after buying an additional 200 shares in the last quarter. Institutional investors and hedge funds own 69.31% of the company’s stock.
Lakeland Financial Corporation (LKFN) opened at 48.63 on Friday. The firm has a 50-day moving average price of $45.16 and a 200-day moving average price of $44.82. Lakeland Financial Corporation has a 52 week low of $33.98 and a 52 week high of $49.22. The stock has a market cap of $1.22 billion, a P/E ratio of 21.81 and a beta of 0.86.
Lakeland Financial Corporation (NASDAQ:LKFN) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The business had revenue of $42.61 million for the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. On average, equities research analysts predict that Lakeland Financial Corporation will post $2.37 EPS for the current year.
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In other news, Director M Scott Welch bought 5,557 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of $41.83 per share, for a total transaction of $232,449.31. Following the acquisition, the director now owns 112,148 shares in the company, valued at $4,691,150.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eric H. Ottinger sold 1,899 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $46.28, for a total value of $87,885.72. Following the transaction, the insider now owns 21,500 shares of the company’s stock, valued at approximately $995,020. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 10,613 shares of company stock valued at $447,131 and have sold 3,149 shares valued at $142,334. 5.00% of the stock is currently owned by corporate insiders.
LKFN has been the topic of a number of research analyst reports. BidaskClub downgraded Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Zacks Investment Research downgraded Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday, August 25th. Finally, ValuEngine upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $48.00.
Lakeland Financial Corporation 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.
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