Legal & General Group Plc reduced its position in shares of Lakeland Financial Corporation (NASDAQ:LKFN) by 1.8% during the first quarter, Holdings Channel reports. The fund owned 5,776 shares of the financial services provider’s stock after selling 107 shares during the period. Legal & General Group Plc’s holdings in Lakeland Financial Corporation were worth $248,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in LKFN. SG Americas Securities LLC purchased a new position in shares of Lakeland Financial Corporation during the first quarter valued at about $102,000. Motley Fool Wealth Management LLC purchased a new position in shares of Lakeland Financial Corporation during the first quarter valued at about $225,000. Prudential Financial Inc. boosted its position in shares of Lakeland Financial Corporation by 1.5% in 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. PNC Financial Services Group Inc. boosted its position in shares of Lakeland Financial Corporation by 3.3% in 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. Finally, Highbridge Capital Management LLC purchased a new position in shares of Lakeland Financial Corporation during the fourth quarter valued at about $346,000. 69.96% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lakeland Financial Corporation (NASDAQ:LKFN) traded down 0.48% during trading on Friday, reaching $43.97. 4,883 shares of the company’s stock traded hands. The company has a 50 day moving average of $45.92 and a 200-day moving average of $44.81. Lakeland Financial Corporation has a 1-year low of $33.98 and a 1-year high of $48.88. The company has a market capitalization of $1.10 billion, a price-to-earnings ratio of 19.72 and a beta of 0.83.

Lakeland Financial Corporation (NASDAQ:LKFN) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $42.61 million for the quarter, compared to analyst estimates of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. Equities analysts predict that Lakeland Financial Corporation will post $2.37 earnings per share for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Tuesday, July 25th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, July 21st. Lakeland Financial Corporation’s payout ratio is currently 39.46%.

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Several brokerages have issued reports on LKFN. BidaskClub cut shares of Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, June 27th. Keefe, Bruyette & Woods set a $43.00 price objective on shares of Lakeland Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, April 18th. Finally, DA Davidson raised shares of Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, May 18th.

In related news, insider Eric H. Ottinger sold 1,899 shares of Lakeland Financial Corporation stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $46.28, for a total transaction of $87,885.72. Following the transaction, the insider now directly owns 21,500 shares of the company’s stock, valued at $995,020. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Batty Jill A. De sold 600 shares of Lakeland Financial Corporation stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total value of $25,566.00. Following the transaction, the insider now directly owns 9,232 shares in the company, valued at $393,375.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,999 shares of company stock worth $220,777. 5.00% of the stock is owned by corporate insiders.

About Lakeland Financial Corporation

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 Corporation (NASDAQ:LKFN)

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