Prospera Private Wealth LLC Makes New Investment in Lakeland Financial Co. (NASDAQ:LKFN)

Prospera Private Wealth LLC acquired a new position in shares of Lakeland Financial Co. (NASDAQ:LKFN) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,402 shares of the financial services provider’s stock, valued at approximately $352,000.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC lifted its holdings in shares of Lakeland Financial by 33,337.5% during the 3rd quarter. Quest Partners LLC now owns 2,675 shares of the financial services provider’s stock valued at $174,000 after buying an additional 2,667 shares during the last quarter. Aptus Capital Advisors LLC lifted its holdings in shares of Lakeland Financial by 15.6% during 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 buying an additional 10,194 shares during the last quarter. Aigen Investment Management LP acquired a new stake in shares of Lakeland Financial during the 3rd quarter valued at about $222,000. GSA Capital Partners LLP lifted its holdings in shares of 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 valued at $1,019,000 after buying an additional 10,685 shares during the last quarter. Finally, Rosenthal Henry Capital Advisors Inc. lifted its holdings in shares of Lakeland Financial by 2.3% during the 3rd quarter. Rosenthal Henry Capital Advisors Inc. now owns 45,955 shares of the financial services provider’s stock valued at $2,993,000 after buying an additional 1,025 shares during the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Financial Stock Performance

LKFN opened at $72.11 on Thursday. The business has a 50 day moving average price of $66.77 and a 200 day moving average price of $64.47. Lakeland Financial Co. has a twelve month low of $53.97 and a twelve month high of $78.31. The firm has a market cap of $1.84 billion, a P/E ratio of 18.73 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. The firm had revenue of $106.94 million during the quarter, compared to analyst estimates 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 previous year, the company earned $0.98 EPS. As a group, analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.66%. The ex-dividend date was Friday, October 25th. Lakeland Financial’s dividend payout ratio is currently 49.87%.

Insiders Place Their Bets

In other news, President Kristin Pruitt sold 12,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $67.06, for a total transaction of $804,720.00. Following the sale, the president now directly owns 10,252 shares in the company, valued at approximately $687,499.12. The trade was a 53.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP James Rickard Donovan sold 800 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $65.42, for a total value of $52,336.00. Following the completion of the sale, the senior vice president now owns 9,568 shares in the company, valued at $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 have sold a total of 16,950 shares of company stock valued at $1,162,383 in the last three months. Company insiders own 3.30% of the company’s stock.

Wall Street Analyst Weigh In

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

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.