State Board of Administration of Florida Retirement System maintained its stake in shares of Lakeland Financial Corporation (NASDAQ:LKFN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,631 shares of the financial services provider’s stock at the end of the 2nd quarter. State Board of Administration of Florida Retirement System owned about 0.10% of Lakeland Financial Corporation worth $1,130,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LKFN. Wells Fargo & Company MN increased its stake in Lakeland Financial Corporation by 7.9% during the first quarter. Wells Fargo & Company MN now owns 73,860 shares of the financial services provider’s stock worth $3,185,000 after acquiring an additional 5,384 shares during the last quarter. First Trust Advisors LP increased its stake in Lakeland Financial Corporation by 27.2% during the first quarter. First Trust Advisors LP now owns 91,166 shares of the financial services provider’s stock worth $3,931,000 after acquiring an additional 19,501 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Lakeland Financial Corporation by 51.3% during the first quarter. Bank of New York Mellon Corp now owns 290,127 shares of the financial services provider’s stock worth $12,510,000 after acquiring an additional 98,331 shares during the last quarter. Comerica Bank increased its stake in Lakeland Financial Corporation by 0.5% during the first quarter. Comerica Bank now owns 12,100 shares of the financial services provider’s stock worth $567,000 after acquiring an additional 62 shares during the last quarter. Finally, Swiss National Bank increased its stake in Lakeland Financial Corporation by 3.5% during the first quarter. Swiss National Bank now owns 41,250 shares of the financial services provider’s stock worth $1,779,000 after acquiring an additional 1,400 shares during the last quarter. 69.31% of the stock is currently owned by institutional investors.

Lakeland Financial Corporation (LKFN) opened at 45.98 on Thursday. The firm’s 50 day moving average price is $44.26 and its 200 day moving average price is $44.55. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 20.62 and a beta of 0.84. Lakeland Financial Corporation has a 12 month low of $33.98 and a 12 month high of $48.88.

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

ILLEGAL ACTIVITY WARNING: This piece of content was originally posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another domain, it was illegally copied and republished in violation of U.S. and international trademark & copyright law. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/state-board-of-administration-of-florida-retirement-system-maintains-holdings-in-lakeland-financial-corporation-lkfn/1577092.html.

In other news, Director M Scott Welch purchased 4,443 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was acquired at an average price of $42.30 per share, for a total transaction of $187,938.90. Following the acquisition, the director now directly owns 112,148 shares of the company’s stock, valued at $4,743,860.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Batty Jill A. De sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was 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 approximately $352,196.92. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 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 owned by company insiders.

Several brokerages have weighed in on LKFN. BidaskClub cut Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised 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. Finally, ValuEngine raised Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $47.00.

Lakeland Financial Corporation 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 Corporation (NASDAQ:LKFN).

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

Receive News & Ratings for Lakeland Financial Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Financial Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.