SYM FINANCIAL Corp Sells 1,822 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

SYM FINANCIAL Corp trimmed its stake in Lakeland Financial Co. (NASDAQ:LKFN) by 6.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,322 shares of the financial services provider’s stock after selling 1,822 shares during the quarter. SYM FINANCIAL Corp owned 0.11% of Lakeland Financial worth $1,779,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Lakeland Financial in the third quarter worth $616,000. Envestnet Asset Management Inc. boosted its holdings in Lakeland Financial by 5.8% in the second quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock worth $14,386,000 after acquiring an additional 12,846 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Lakeland Financial by 3.1% in the third 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 in the last quarter. Eagle Asset Management Inc. lifted its holdings in shares of Lakeland Financial by 29.5% during the third quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider’s stock valued at $16,289,000 after purchasing an additional 56,928 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in shares of Lakeland Financial by 132.5% during the second quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock valued at $6,042,000 after purchasing an additional 55,975 shares in the last quarter. 81.15% of the stock is owned by institutional investors.

Insider Activity

In other Lakeland Financial news, SVP James Rickard Donovan sold 800 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $65.42, for a total value of $52,336.00. Following the transaction, the senior vice president now owns 9,568 shares of the company’s stock, valued at approximately $625,938.56. This represents a 7.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the completion of the transaction, the executive vice president now directly owns 32,475 shares in the company, valued at approximately $2,386,912.50. This represents a 10.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,950 shares of company stock valued at $357,663 over the last ninety days. 3.30% of the stock is currently owned by corporate insiders.

Lakeland Financial Price Performance

Shares of NASDAQ:LKFN opened at $74.99 on Thursday. The company has a market cap of $1.91 billion, a P/E ratio of 19.48 and a beta of 0.67. Lakeland Financial Co. has a 1 year low of $57.45 and a 1 year high of $78.61. The stock’s fifty day moving average price is $68.53 and its 200-day moving average price is $65.38.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $106.94 million for the quarter, compared to the consensus estimate 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 in the prior year, the company posted $0.98 earnings per share. On average, sell-side analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current year.

Lakeland Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.56%. The ex-dividend date of this dividend was Friday, October 25th. Lakeland Financial’s payout ratio is currently 49.87%.

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.