Stieven Capital Advisors L.P. held its position in shares of Lakeland Financial Corporation (NASDAQ:LKFN) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,800 shares of the financial services provider’s stock at the end of the second quarter. Stieven Capital Advisors L.P.’s holdings in Lakeland Financial Corporation were worth $220,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its position in shares of Lakeland Financial Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,055,655 shares of the financial services provider’s stock valued at $45,519,000 after buying an additional 35,653 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Lakeland Financial Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock valued at $43,992,000 after buying an additional 28,198 shares during the period. Victory Capital Management Inc. boosted its position in shares of Lakeland Financial Corporation by 0.8% in the first quarter. Victory Capital Management Inc. now owns 911,935 shares of the financial services provider’s stock valued at $39,323,000 after buying an additional 7,209 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Lakeland Financial Corporation by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 806,256 shares of the financial services provider’s stock valued at $34,766,000 after buying an additional 89,271 shares during the period. Finally, Columbia Wanger Asset Management LLC boosted its position in shares of Lakeland Financial Corporation by 2.7% in the first quarter. Columbia Wanger Asset Management LLC now owns 583,598 shares of the financial services provider’s stock valued at $25,165,000 after buying an additional 15,506 shares during the period. Institutional investors own 69.31% of the company’s stock.

Lakeland Financial Corporation (LKFN) opened at 43.71 on Tuesday. The stock has a market capitalization of $1.09 billion, a PE ratio of 19.60 and a beta of 0.83. The company’s 50-day moving average price is $45.34 and its 200 day moving average price is $44.77. Lakeland Financial Corporation has a 52-week low of $33.98 and a 52-week high of $48.88.

Lakeland Financial Corporation (NASDAQ:LKFN) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Equities analysts forecast that Lakeland Financial Corporation will post $2.37 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Tuesday, July 25th were given a dividend of $0.22 per share. The ex-dividend date was Friday, July 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.01%. Lakeland Financial Corporation’s dividend payout ratio (DPR) is presently 39.46%.

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LKFN has been the subject of several recent research reports. DA Davidson upgraded Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Thursday, May 18th. BidaskClub cut Lakeland Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. Finally, Zacks Investment Research upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research report on Saturday.

In related news, insider Eric H. Ottinger sold 1,899 shares of the company’s stock in a transaction dated 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 transaction, the insider now owns 21,500 shares in the company, valued at approximately $995,020. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.

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

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