Lakeland Financial Co. (NASDAQ:LKFN) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 12.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 15,551 shares of the financial services provider’s stock after purchasing an additional 1,709 shares during the period. Mirae Asset Global Investments Co. Ltd. owned 0.06% of Lakeland Financial worth $998,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Lakeland Financial by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 1,847,688 shares of the financial services provider’s stock worth $120,395,000 after buying an additional 42,862 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Lakeland Financial by 82.3% in the 1st quarter. BNP Paribas Financial Markets now owns 12,344 shares of the financial services provider’s stock worth $819,000 after purchasing an additional 5,571 shares during the period. Sippican Capital Advisors purchased a new position in shares of Lakeland Financial in the 1st quarter worth about $223,000. Choreo LLC acquired a new position in shares of Lakeland Financial in the 1st quarter valued at about $783,000. Finally, Texas Permanent School Fund Corp grew its holdings in shares of Lakeland Financial by 1.3% during the 1st quarter. Texas Permanent School Fund Corp now owns 22,257 shares of the financial services provider’s stock worth $1,476,000 after purchasing an additional 287 shares during the period. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Lakeland Financial Price Performance

Shares of LKFN opened at $65.05 on Friday. Lakeland Financial Co. has a 12 month low of $48.85 and a 12 month high of $73.22. The stock’s 50-day moving average is $65.50 and its two-hundred day moving average is $63.40. The stock has a market cap of $1.66 billion, a PE ratio of 16.90 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $106.94 million for the quarter, compared to the consensus estimate of $59.90 million. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. During the same period last year, the business posted $0.98 EPS. On average, research analysts anticipate that Lakeland Financial Co. will post 3.4 earnings per share for the current year.

Lakeland Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.95%. Lakeland Financial’s payout ratio is currently 49.87%.

Insider Activity

In related news, SVP James Rickard Donovan sold 800 shares of Lakeland Financial stock in a transaction on Friday, September 13th. The shares were sold at an average price of $65.42, for a total transaction of $52,336.00. Following the sale, the senior vice president now owns 9,568 shares of the company’s stock, valued at $625,938.56. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, President Kristin Pruitt sold 12,000 shares of the stock in a transaction dated Monday, August 26th. The stock was 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 owns 10,252 shares of the company’s stock, valued at approximately $687,499.12. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP James Rickard Donovan sold 800 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $65.42, for a total value of $52,336.00. Following the sale, the senior vice president now owns 9,568 shares of the company’s stock, valued at approximately $625,938.56. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.30% of the company’s stock.

Lakeland Financial Profile

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.