Captrust Financial Advisors Sells 10,906 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

Captrust Financial Advisors lowered its stake in Lakeland Financial Co. (NASDAQ:LKFN) by 68.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,955 shares of the financial services provider’s stock after selling 10,906 shares during the quarter. Captrust Financial Advisors’ holdings in Lakeland Financial were worth $323,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Eagle Asset Management Inc. increased its position in shares of Lakeland Financial by 29.5% in the third quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider’s stock worth $16,289,000 after purchasing an additional 56,928 shares during the last quarter. Raymond James & Associates increased its holdings in shares of Lakeland Financial by 132.5% in the 2nd quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock worth $6,042,000 after buying an additional 55,975 shares during the last quarter. Renaissance Technologies LLC raised its position in shares of Lakeland Financial by 686.8% during the 2nd quarter. Renaissance Technologies LLC now owns 57,051 shares of the financial services provider’s stock valued at $3,510,000 after buying an additional 49,800 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Lakeland Financial by 3.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,968 shares of the financial services provider’s stock worth $58,801,000 after acquiring an additional 27,214 shares during the last quarter. Finally, FMR LLC grew its position in Lakeland Financial by 41.1% in the third quarter. FMR LLC now owns 82,428 shares of the financial services provider’s stock worth $5,368,000 after acquiring an additional 24,030 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.

Lakeland Financial Stock Down 0.4 %

NASDAQ LKFN opened at $72.76 on Friday. The stock’s 50-day simple moving average is $69.92 and its two-hundred day simple moving average is $65.97. Lakeland Financial Co. has a twelve month low of $57.45 and a twelve month high of $78.61. The company has a market capitalization of $1.86 billion, a price-to-earnings ratio of 18.90 and a beta of 0.67.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The company had revenue of $106.94 million for the quarter, compared to analysts’ expectations of $59.90 million. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. During the same period last year, the firm posted $0.98 EPS. On average, equities analysts expect that Lakeland Financial Co. will post 3.42 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.64%. Lakeland Financial’s payout ratio is 49.87%.

Insider Activity at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $73.50, for a total value of $290,986.50. Following the transaction, the executive vice president now directly owns 32,475 shares of the company’s stock, valued at $2,386,912.50. The trade was a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last 90 days, insiders have sold 4,150 shares of company stock valued at $305,327. Insiders own 3.30% of the company’s stock.

About Lakeland Financial

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.