Menta Capital LLC acquired a new position in shares of Lakeland Financial Corporation (NASDAQ:LKFN) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 22,912 shares of the financial services provider’s stock, valued at approximately $1,051,000. Menta Capital LLC owned approximately 0.09% of Lakeland Financial Corporation at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Franklin Resources Inc. increased its position in Lakeland Financial Corporation by 1.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,948,115 shares of the financial services provider’s stock worth $89,380,000 after purchasing an additional 31,765 shares in the last quarter. Vanguard Group Inc. increased its position in Lakeland Financial Corporation by 3.5% during the 1st quarter. Vanguard Group Inc. now owns 1,055,655 shares of the financial services provider’s stock worth $45,519,000 after purchasing an additional 35,653 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Lakeland Financial Corporation by 2.8% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock worth $43,992,000 after purchasing an additional 28,198 shares in the last quarter. Victory Capital Management Inc. increased its position in Lakeland Financial Corporation by 0.8% during the 1st quarter. Victory Capital Management Inc. now owns 911,935 shares of the financial services provider’s stock worth $39,323,000 after purchasing an additional 7,209 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Lakeland Financial Corporation by 12.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 806,256 shares of the financial services provider’s stock worth $34,766,000 after purchasing an additional 89,271 shares in the last quarter. Institutional investors and hedge funds own 69.31% of the company’s stock.

A number of equities analysts recently issued reports on LKFN shares. BidaskClub upgraded shares of Lakeland Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Zacks Investment Research upgraded shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, June 27th. Finally, ValuEngine upgraded shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $47.00.

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In other Lakeland Financial Corporation news, insider Eric H. Ottinger sold 1,899 shares of Lakeland Financial Corporation stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $46.28, for a total transaction of $87,885.72. Following the completion of the sale, the insider now directly owns 21,500 shares in the company, valued at $995,020. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Batty Jill A. De sold 800 shares of Lakeland Financial Corporation stock in a transaction that occurred on Tuesday, September 5th. The shares were sold at an average price of $43.31, for a total transaction of $34,648.00. Following the sale, the insider now owns 8,132 shares of the company’s stock, valued at $352,196.92. The disclosure for this sale can be found here. Over 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. Insiders own 5.00% of the company’s stock.

Lakeland Financial Corporation (NASDAQ LKFN) opened at 46.26 on Monday. The firm has a market capitalization of $1.15 billion, a PE ratio of 22.57 and a beta of 0.84. Lakeland Financial Corporation has a 52-week low of $33.98 and a 52-week high of $48.88. The company’s 50-day moving average is $44.26 and its 200-day moving average is $44.55.

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

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.

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

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