Lakeland Financial Co. (NASDAQ:LKFN) Stock Position Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 8.5% during the third quarter, Holdings Channel reports. The institutional investor owned 3,837 shares of the financial services provider’s stock after selling 355 shares during the period. Mutual of America Capital Management LLC’s holdings in Lakeland Financial were worth $250,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Aptus Capital Advisors LLC lifted its position in Lakeland Financial by 15.6% in the third quarter. Aptus Capital Advisors LLC now owns 75,418 shares of the financial services provider’s stock worth $4,911,000 after purchasing an additional 10,194 shares during the period. Aigen Investment Management LP acquired a new stake in shares of Lakeland Financial in the third quarter valued at $222,000. GSA Capital Partners LLP boosted its stake in Lakeland Financial by 215.2% during the third quarter. GSA Capital Partners LLP now owns 15,649 shares of the financial services provider’s stock valued at $1,019,000 after buying an additional 10,685 shares in the last quarter. Rosenthal Henry Capital Advisors Inc. grew its holdings in Lakeland Financial by 2.3% during the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 45,955 shares of the financial services provider’s stock worth $2,993,000 after acquiring an additional 1,025 shares during the period. Finally, US Bancorp DE raised its position in Lakeland Financial by 72.2% in the third quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 890 shares in the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the company’s stock in a transaction dated 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 directly owns 32,475 shares of the company’s stock, valued at approximately $2,386,912.50. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP James Rickard Donovan sold 800 shares of Lakeland Financial stock in a transaction that occurred on Friday, September 13th. The stock was 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 directly owns 9,568 shares in the company, valued at approximately $625,938.56. This trade represents a 7.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,950 shares of company stock worth $357,663 in the last quarter. 3.30% of the stock is owned by company insiders.

Lakeland Financial Trading Down 0.2 %

NASDAQ:LKFN opened at $74.50 on Friday. The company has a 50-day moving average of $67.90 and a 200-day moving average of $65.05. The firm has a market cap of $1.90 billion, a price-to-earnings ratio of 19.35 and a beta of 0.65. Lakeland Financial Co. has a twelve month low of $53.97 and a twelve month high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results 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. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The firm had revenue of $106.94 million for the quarter, compared to analyst estimates of $59.90 million. During the same quarter in the previous year, the business posted $0.98 earnings per share. On average, research analysts forecast that Lakeland Financial Co. will post 3.42 earnings per share for the current year.

Lakeland Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.58%. The ex-dividend date was Friday, October 25th. Lakeland Financial’s dividend payout ratio (DPR) is presently 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.