Geode Capital Management LLC Purchases 5,562 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

Geode Capital Management LLC grew its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 605,007 shares of the financial services provider’s stock after buying an additional 5,562 shares during the quarter. Geode Capital Management LLC’s holdings in Lakeland Financial were worth $39,406,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. nVerses Capital LLC bought a new stake in Lakeland Financial during the 2nd quarter worth approximately $31,000. Fifth Third Bancorp increased its stake in shares of Lakeland Financial by 342.5% in the second quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider’s stock valued at $36,000 after buying an additional 459 shares in the last quarter. GAMMA Investing LLC lifted its position in Lakeland Financial by 58.0% during the 3rd quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock worth $42,000 after buying an additional 235 shares in the last quarter. Point72 DIFC Ltd bought a new stake in Lakeland Financial during the 3rd quarter worth about $74,000. Finally, US Bancorp DE increased its position in Lakeland Financial by 72.2% in the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 890 shares in the last quarter. Institutional investors and hedge funds own 81.15% of the company’s stock.

Insider Buying and Selling at Lakeland Financial

In other news, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction that occurred on 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 owns 32,475 shares in the company, valued at $2,386,912.50. The trade was a 10.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have sold 4,150 shares of company stock worth $305,327. Company insiders own 3.30% of the company’s stock.

Lakeland Financial Trading Up 0.5 %

Shares of LKFN stock opened at $69.25 on Wednesday. Lakeland Financial Co. has a 1 year low of $57.45 and a 1 year high of $78.61. The firm’s 50 day moving average is $70.80 and its 200-day moving average is $66.39. The firm has a market capitalization of $1.77 billion, a price-to-earnings ratio of 17.99 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm 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 quarter in the prior year, the business earned $0.98 EPS. On average, equities research analysts forecast that Lakeland Financial Co. will post 3.42 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were given a $0.48 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a yield of 2.77%. Lakeland Financial’s payout ratio is 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.