2 weeks Ago By Defense World Staff
Bank of Montreal Can boosted its holdings in Lakeland Financial Co. (NASDAQ:LKFN – Free Report) by 6.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission.
The fund owned 4,954 shares of the financial services provider’s stock after acquiring an additional 306 shares during the period. Bank of Montreal Can’s holdings in Lakeland Financial were worth $341,000 as of its most recent filing with the Securities and Exchange Commission. Other institutional investors and hedge funds have also modified their holdings of the company.
Raymond James Financial Inc. acquired a new position in shares of Lakeland Financial during the fourth quarter worth about $23,111,000. Assenagon Asset Management S.
A. bought a new stake in shares of Lakeland Financial in the 4th quarter valued at approximately $10,560,000. Vanguard Group Inc.
grew its position in shares of Lakeland Financial by 5.4% during the fourth quarter. Vanguard Group Inc.
now owns 1,940,356 shares of the financial services provider’s stock worth $133,419,000 after acquiring an additional 100,001 shares during the last quarter. JPMorgan Chase & Co. increased its stake in shares of Lakeland Financial by 132.
2% in the fourth quarter. JPMorgan Chase & Co. now owns 134,495 shares of the financial services provider’s stock valued at $9,248,000 after purchasing an additional 76,562 shares during the period.
Finally, Charles Schwab Investment Management Inc. raised its stake in Lakeland Financial by 4.8% during the 4th quarter.
Charles Schwab Investment Management Inc. now owns 946,280 shares of the financial services provider’s stock valued at $65,066,000 after acquiring an additional 43,312 shares in the last quarter. Hedge funds and other institutional investors own 81.
15% of the company’s stock. Lakeland Financial Stock PerformanceShares of LKFN opened at $54.49 on Thursday.
The firm has a market cap of $1.42 billion, a price-to-earnings ratio of 15.01 and a beta of 0.
64. The business’s fifty day moving average is $59.73 and its 200-day moving average is $65.
96. Lakeland Financial Co. has a 52-week low of $50.
74 and a 52-week high of $78.61. Lakeland Financial (NASDAQ:LKFN – Get Free Report) last issued its quarterly earnings results on Friday, January 24th.
The financial services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.
05. Lakeland Financial had a net margin of 21.74% and a return on equity of 13.
31%. As a group, research analysts forecast that Lakeland Financial Co. will post 3.
7 EPS for the current fiscal year. Lakeland Financial Announces DividendThe business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Friday, April 25th will be paid a dividend of $0.
50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.
67%. The ex-dividend date of this dividend is Friday, April 25th. Lakeland Financial’s dividend payout ratio (DPR) is presently 55.
10%. Analysts Set New Price TargetsA number of research firms have weighed in on LKFN. Hovde Group initiated coverage on Lakeland Financial in a research report on Friday, March 21st.
They issued a “market perform” rating and a $66.00 target price for the company. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $74.
00 price objective (up from $73.00) on shares of Lakeland Financial in a research note on Monday, January 27th.Check Out Our Latest Research Report on LKFNInsider Buying and Selling at Lakeland FinancialIn related news, EVP Stephanie R.
Leniski sold 1,500 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $61.94, for a total value of $92,910.
00. Following the completion of the transaction, the executive vice president now owns 6,211 shares of the company’s stock, valued at approximately $384,709.34.
This represents a 19.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.
Also, SVP Donald Robinson-Gay sold 550 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $66.25, for a total value of $36,437.
50. Following the completion of the transaction, the senior vice president now directly owns 4,974 shares in the company, valued at approximately $329,527.50.
This represents a 9.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here.
Corporate insiders own 3.00% of the company’s stock. About Lakeland Financial (Free Report)Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States.
The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.Read MoreFive stocks we like better than Lakeland FinancialConference Calls and Individual InvestorsCan IBM’s Q1 Earnings Spark a Breakout for the Stock?What is a penny stock? A comprehensive guideS&P 500 and Nasdaq-100 Flashed Death Crosses—Should You Worry?How to Read Stock Charts for BeginnersFundamentally Sound, These 5 Stocks Sold Off Anyway.
