Aptus Capital Advisors LLC boosted its position in shares of Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) by 6.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 37,264 shares of the financial services provider’s stock after purchasing an additional 2,370 shares during the quarter. Aptus Capital Advisors LLC owned about 0.15% of Lakeland Financial worth $2,720,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in LKFN. Pinebridge Investments L.P. bought a new stake in shares of Lakeland Financial in the 4th quarter valued at about $96,000. SG Americas Securities LLC increased its stake in shares of Lakeland Financial by 29.9% in the 1st quarter. SG Americas Securities LLC now owns 2,593 shares of the financial services provider’s stock valued at $189,000 after acquiring an additional 597 shares during the last quarter. Raymond James & Associates bought a new stake in shares of Lakeland Financial in the 4th quarter valued at about $232,000. Mutual of America Capital Management LLC increased its stake in shares of Lakeland Financial by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 3,646 shares of the financial services provider’s stock valued at $266,000 after acquiring an additional 190 shares during the last quarter. Finally, Personal CFO Solutions LLC increased its stake in shares of Lakeland Financial by 4.1% in the 1st quarter. Personal CFO Solutions LLC now owns 4,027 shares of the financial services provider’s stock valued at $294,000 after acquiring an additional 157 shares during the last quarter. 80.34% of the stock is owned by institutional investors.
Insider Buying and Selling
In other Lakeland Financial news, Director Robert E. Bartels, Jr. bought 755 shares of the stock in a transaction that occurred on Monday, June 13th. The stock was acquired at an average cost of $67.29 per share, with a total value of $50,803.95. Following the purchase, the director now owns 26,213 shares in the company, valued at $1,763,872.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 4.00% of the stock is owned by company insiders.
Lakeland Financial Price Performance
Lakeland Financial (NASDAQ:LKFN – Get Rating) last posted its earnings results on Monday, July 25th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.04. Lakeland Financial had a return on equity of 15.27% and a net margin of 40.50%. During the same quarter in the previous year, the business posted $0.95 earnings per share. Analysts anticipate that Lakeland Financial Co. will post 3.95 earnings per share for the current fiscal year.
Lakeland Financial Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Monday, July 25th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, July 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.14%. Lakeland Financial’s payout ratio is 41.99%.
Analyst Upgrades and Downgrades
Separately, StockNews.com raised Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Tuesday.
About Lakeland Financial
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.
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