Tudor Investment Corp Et Al Makes New Investment in Lakeland Financial Co. (NASDAQ:LKFN)


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Tudor Investment Corp Et Al bought a new position in Lakeland Financial Co. (NASDAQ:LKFN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 4,841 shares of the financial services provider’s stock, valued at approximately $259,000.

A number of other hedge funds have also recently modified their holdings of the business. BlackRock Inc. increased its position in Lakeland Financial by 4.3% in the 4th quarter. BlackRock Inc. now owns 1,838,844 shares of the financial services provider’s stock worth $98,525,000 after purchasing an additional 76,329 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of Lakeland Financial by 5.6% during the 4th quarter. Victory Capital Management Inc. now owns 1,323,548 shares of the financial services provider’s stock worth $70,916,000 after acquiring an additional 70,475 shares in the last quarter. Copeland Capital Management LLC boosted its stake in shares of Lakeland Financial by 15.4% during the 4th quarter. Copeland Capital Management LLC now owns 459,142 shares of the financial services provider’s stock worth $24,601,000 after acquiring an additional 61,208 shares in the last quarter. Neumeier Poma Investment Counsel LLC boosted its stake in shares of Lakeland Financial by 25.9% during the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 438,382 shares of the financial services provider’s stock worth $23,489,000 after acquiring an additional 90,145 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Lakeland Financial by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 382,372 shares of the financial services provider’s stock worth $20,488,000 after acquiring an additional 8,531 shares in the last quarter. 73.75% of the stock is currently owned by institutional investors.

LKFN opened at $68.08 on Thursday. The stock has a 50-day moving average of $70.47 and a 200-day moving average of $57.33. Lakeland Financial Co. has a 52-week low of $33.92 and a 52-week high of $77.05. The company has a market cap of $1.75 billion, a PE ratio of 21.34 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98.

Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Sunday, January 24th. The financial services provider reported $0.97 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.16. Lakeland Financial had a return on equity of 13.31% and a net margin of 33.90%. The firm had revenue of $56.50 million during the quarter, compared to the consensus estimate of $52.25 million. On average, research analysts predict that Lakeland Financial Co. will post 3.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, February 5th. Investors of record on Monday, January 25th were paid a dividend of $0.34 per share. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.30. The ex-dividend date was Friday, January 22nd. This represents a $1.36 annualized dividend and a yield of 2.00%. Lakeland Financial’s dividend payout ratio is presently 40.24%.

In related news, Director Michael L. Kubacki sold 50,490 shares of the stock in a transaction that occurred on Friday, January 29th. The stock was sold at an average price of $59.12, for a total transaction of $2,984,968.80. Following the completion of the sale, the director now owns 181,725 shares in the company, valued at approximately $10,743,582. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Lisa M. O’neill sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 5th. The stock was sold at an average price of $62.06, for a total value of $279,270.00. Following the completion of the sale, the chief financial officer now owns 22,925 shares of the company’s stock, valued at approximately $1,422,725.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 92,418 shares of company stock valued at $5,735,529. 4.80% of the stock is owned by corporate insiders.

Separately, Zacks Investment Research downgraded Lakeland Financial from a “buy” rating to a “sell” rating in a research note on Wednesday.

About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

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

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