Connor Clark & Lunn Investment Management Ltd. Invests $616,000 in Lakeland Financial Co. (NASDAQ:LKFN)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) during the third quarter, HoldingsChannel reports. The firm acquired 9,458 shares of the financial services provider’s stock, valued at approximately $616,000.

Other institutional investors have also bought and sold shares of the company. nVerses Capital LLC bought a new stake in shares of Lakeland Financial during the 2nd quarter worth about $31,000. Fifth Third Bancorp raised its holdings in Lakeland Financial by 342.5% during the second quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its position in Lakeland Financial by 58.0% in the third quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock worth $42,000 after purchasing an additional 235 shares during the period. US Bancorp DE boosted its stake in Lakeland Financial by 72.2% during the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 890 shares in the last quarter. Finally, Quest Partners LLC increased its position in shares of Lakeland Financial by 33,337.5% during the 3rd quarter. Quest Partners LLC now owns 2,675 shares of the financial services provider’s stock valued at $174,000 after purchasing an additional 2,667 shares during the period. Institutional investors and hedge funds own 81.15% of the company’s stock.

Insider Activity

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $73.50, for a total transaction of $290,986.50. Following the completion of the sale, the executive vice president now directly owns 32,475 shares of the company’s stock, valued at approximately $2,386,912.50. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James Rickard Donovan sold 800 shares of Lakeland Financial stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,336.00. Following the completion of the transaction, the senior vice president now directly owns 9,568 shares in the company, valued at approximately $625,938.56. This trade represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,950 shares of company stock worth $357,663. Insiders own 3.30% of the company’s stock.

Lakeland Financial Stock Down 0.2 %

Shares of Lakeland Financial stock opened at $74.50 on Friday. The business has a fifty day simple moving average of $67.90 and a 200-day simple moving average of $65.05. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 19.35 and a beta of 0.65. Lakeland Financial Co. has a fifty-two week low of $53.97 and a fifty-two week high of $78.61.

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

Lakeland Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 annualized dividend and a dividend yield of 2.58%. 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.