Segall Bryant & Hamill LLC Reduces Holdings in Lakeland Financial Co. (NASDAQ:LKFN)

Segall Bryant & Hamill LLC lowered its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 6.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 110,528 shares of the financial services provider’s stock after selling 8,132 shares during the period. Segall Bryant & Hamill LLC’s holdings in Lakeland Financial were worth $7,198,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. Prospera Private Wealth LLC acquired a new position in Lakeland Financial during the third quarter worth approximately $352,000. Quest Partners LLC increased its holdings in shares of Lakeland Financial by 33,337.5% in the 3rd quarter. Quest Partners LLC now owns 2,675 shares of the financial services provider’s stock valued at $174,000 after acquiring an additional 2,667 shares during the period. Aptus Capital Advisors LLC raised its position in Lakeland Financial by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 75,418 shares of the financial services provider’s stock valued at $4,911,000 after purchasing an additional 10,194 shares during the last quarter. Aigen Investment Management LP purchased a new stake in Lakeland Financial in the 3rd quarter valued at $222,000. Finally, GSA Capital Partners LLP grew its position in Lakeland Financial by 215.2% during the 3rd quarter. GSA Capital Partners LLP now owns 15,649 shares of the financial services provider’s stock worth $1,019,000 after purchasing an additional 10,685 shares during the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.

Lakeland Financial Price Performance

Lakeland Financial stock opened at $73.77 on Friday. The business has a 50 day simple moving average of $66.94 and a 200-day simple moving average of $64.53. Lakeland Financial Co. has a 12 month low of $53.97 and a 12 month high of $78.31. The stock has a market capitalization of $1.88 billion, a PE ratio of 19.16 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $106.94 million during the quarter, compared to the consensus estimate of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same quarter in the prior year, the firm earned $0.98 EPS. As a group, equities research analysts anticipate that Lakeland Financial Co. will post 3.42 EPS for the current year.

Lakeland Financial Announces Dividend

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 2.60%. Lakeland Financial’s payout ratio is currently 49.87%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, SVP James Rickard Donovan sold 800 shares of the business’s 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 directly owns 9,568 shares in the company, valued at approximately $625,938.56. The trade was a 7.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Kristin Pruitt sold 12,000 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $67.06, for a total transaction of $804,720.00. Following the completion of the transaction, the president now owns 10,252 shares of the company’s stock, valued at $687,499.12. This represents a 53.93 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 16,950 shares of company stock valued at $1,162,383. 3.30% of the stock is owned by corporate insiders.

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.