Keybank National Association OH Cuts Stake in Lakeland Financial Co. (NASDAQ:LKFN)

Keybank National Association OH reduced its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 3.8% in the fourth quarter, Holdings Channel reports. The fund owned 10,776 shares of the financial services provider’s stock after selling 427 shares during the quarter. Keybank National Association OH’s holdings in Lakeland Financial were worth $741,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Albert D Mason Inc. boosted its position in shares of Lakeland Financial by 0.8% during the 4th quarter. Albert D Mason Inc. now owns 22,638 shares of the financial services provider’s stock valued at $1,557,000 after acquiring an additional 177 shares during the last quarter. Forvis Mazars Wealth Advisors LLC boosted its position in shares of Lakeland Financial by 0.4% during the 4th quarter. Forvis Mazars Wealth Advisors LLC now owns 68,875 shares of the financial services provider’s stock valued at $4,736,000 after acquiring an additional 255 shares during the last quarter. Jones Financial Companies Lllp boosted its position in shares of Lakeland Financial by 18.8% during the 4th quarter. Jones Financial Companies Lllp now owns 2,062 shares of the financial services provider’s stock valued at $142,000 after acquiring an additional 326 shares during the last quarter. US Bancorp DE boosted its position in shares of Lakeland Financial by 16.8% during the 4th quarter. US Bancorp DE now owns 2,480 shares of the financial services provider’s stock valued at $171,000 after acquiring an additional 357 shares during the last quarter. Finally, Sippican Capital Advisors boosted its position in shares of Lakeland Financial by 2.4% during the 4th quarter. Sippican Capital Advisors now owns 19,376 shares of the financial services provider’s stock valued at $1,332,000 after acquiring an additional 445 shares during the last quarter. 81.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, SVP Donald Robinson-Gay sold 550 shares of Lakeland Financial stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $36,437.50. Following the completion of the sale, the senior vice president now directly owns 4,974 shares in the company, valued at approximately $329,527.50. This trade represents a 9.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $74.00 target price (up from $73.00) on shares of Lakeland Financial in a research report on Monday, January 27th.

Lakeland Financial Stock Down 0.9 %

Shares of LKFN opened at $62.35 on Friday. The company has a market cap of $1.62 billion, a PE ratio of 17.18 and a beta of 0.63. The business has a fifty day moving average of $67.32 and a 200 day moving average of $68.03. Lakeland Financial Co. has a 52-week low of $57.45 and a 52-week high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.05. Lakeland Financial had a return on equity of 13.31% and a net margin of 21.74%. As a group, research analysts anticipate that Lakeland Financial Co. will post 3.7 earnings per share for the current fiscal year.

Lakeland Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 5th. Investors of record on Saturday, January 25th were given a $0.50 dividend. The ex-dividend date was Friday, January 24th. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 3.21%. Lakeland Financial’s dividend payout ratio (DPR) is currently 55.10%.

Lakeland Financial Company 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.