Quantbot Technologies LP Purchases 2,898 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

Quantbot Technologies LP grew its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 150.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,825 shares of the financial services provider’s stock after buying an additional 2,898 shares during the quarter. Quantbot Technologies LP’s holdings in Lakeland Financial were worth $314,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System grew its stake in Lakeland Financial by 1.6% during the second quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the financial services provider’s stock worth $787,000 after buying an additional 200 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Lakeland Financial by 58.0% during the third quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 235 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Lakeland Financial by 5.1% during the second quarter. Inspire Investing LLC now owns 5,679 shares of the financial services provider’s stock valued at $349,000 after purchasing an additional 277 shares during the last quarter. Arizona State Retirement System grew its stake in shares of Lakeland Financial by 4.0% during the second quarter. Arizona State Retirement System now owns 7,269 shares of the financial services provider’s stock valued at $447,000 after purchasing an additional 280 shares during the last quarter. Finally, nVerses Capital LLC grew its stake in shares of Lakeland Financial by 60.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the financial services provider’s stock valued at $52,000 after purchasing an additional 300 shares during the last quarter. 81.15% of the stock is owned by institutional investors.

Insider Activity

In related news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the transaction, the executive vice president now directly owns 32,475 shares in the company, valued at $2,386,912.50. This represents a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP James Rickard Donovan sold 800 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 9,568 shares in the company, valued at $625,938.56. This represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,950 shares of company stock valued at $357,663 over the last three months. 3.30% of the stock is owned by insiders.

Lakeland Financial Price Performance

LKFN opened at $74.99 on Thursday. Lakeland Financial Co. has a one year low of $57.45 and a one year high of $78.61. The company’s 50 day simple moving average is $68.53 and its 200-day simple moving average is $65.38. The stock has a market capitalization of $1.91 billion, a P/E ratio of 19.48 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly 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. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The business had revenue of $106.94 million for the quarter, compared to analysts’ expectations of $59.90 million. During the same period in the prior year, the firm earned $0.98 earnings per share. As a group, analysts anticipate that Lakeland Financial Co. will post 3.42 EPS for the current year.

Lakeland Financial Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, October 25th. This represents a $1.92 annualized dividend and a dividend yield of 2.56%. Lakeland Financial’s dividend payout ratio (DPR) is currently 49.87%.

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.