Segall Bryant & Hamill LLC Reduces Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

Segall Bryant & Hamill LLC lowered its position in Lakeland Financial Co. (NASDAQ:LKFN) by 6.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 110,528 shares of the financial services provider’s stock after selling 8,132 shares during the period. Segall Bryant & Hamill LLC owned 0.43% of Lakeland Financial worth $7,198,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LKFN. ProShare Advisors LLC grew its stake in Lakeland Financial by 7.4% during the 1st quarter. ProShare Advisors LLC now owns 5,020 shares of the financial services provider’s stock valued at $333,000 after acquiring an additional 345 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in Lakeland Financial by 14.9% during the first quarter. State Board of Administration of Florida Retirement System now owns 8,146 shares of the financial services provider’s stock worth $510,000 after buying an additional 1,054 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its holdings in Lakeland Financial by 5.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 21,562 shares of the financial services provider’s stock valued at $1,427,000 after buying an additional 1,141 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Lakeland Financial by 5.3% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,044 shares of the financial services provider’s stock valued at $1,131,000 after buying an additional 862 shares in the last quarter. Finally, Pathway Financial Advisers LLC purchased a new position in shares of Lakeland Financial during the 1st quarter worth $664,000. Institutional investors and hedge funds own 81.15% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods upped their price objective on shares of Lakeland Financial from $64.00 to $65.00 and gave the company a “market perform” rating in a report on Monday, July 29th.

Insider Buying and Selling

In related news, SVP James Rickard Donovan sold 800 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,336.00. Following the transaction, the senior vice president now owns 9,568 shares of the company’s stock, valued at approximately $625,938.56. This represents a 7.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Kristin Pruitt sold 12,000 shares of Lakeland Financial stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.06, for a total value of $804,720.00. Following the completion of the transaction, the president now directly owns 10,252 shares of the company’s stock, valued at approximately $687,499.12. This represents a 53.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 16,950 shares of company stock valued at $1,162,383. Company insiders own 3.30% of the company’s stock.

Lakeland Financial Stock Up 2.3 %

LKFN stock opened at $73.77 on Friday. Lakeland Financial Co. has a 52-week low of $53.97 and a 52-week high of $78.31. The business has a fifty day moving average of $66.94 and a two-hundred day moving average of $64.53. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 19.16 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $106.94 million for the quarter, compared to analyst estimates of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same period in the previous year, the firm earned $0.98 EPS. As a group, sell-side analysts anticipate that Lakeland Financial Co. will post 3.42 EPS for the current year.

Lakeland Financial Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.92 annualized dividend and a dividend yield of 2.60%. Lakeland Financial’s dividend payout ratio is currently 49.87%.

About Lakeland Financial

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.