Spark Investment Management LLC Has $807,000 Stake in Lakeland Financial Corporation (LKFN)

Spark Investment Management LLC held its position in Lakeland Financial Corporation (NASDAQ:LKFN) during the second quarter, Holdings Channel reports. The firm owned 17,600 shares of the financial services provider’s stock at the end of the second quarter. Spark Investment Management LLC’s holdings in Lakeland Financial Corporation were worth $807,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in LKFN. BKD Wealth Advisors LLC boosted its position in Lakeland Financial Corporation by 30.9% in the second quarter. BKD Wealth Advisors LLC now owns 19,326 shares of the financial services provider’s stock valued at $887,000 after buying an additional 4,558 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Lakeland Financial Corporation by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 806,256 shares of the financial services provider’s stock valued at $34,766,000 after buying an additional 89,271 shares in the last quarter. AQR Capital Management LLC boosted its position in Lakeland Financial Corporation by 12.7% in the first quarter. AQR Capital Management LLC now owns 73,739 shares of the financial services provider’s stock valued at $3,180,000 after buying an additional 8,301 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its position in Lakeland Financial Corporation by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 106,266 shares of the financial services provider’s stock valued at $4,583,000 after buying an additional 5,796 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Lakeland Financial Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock valued at $43,992,000 after buying an additional 28,198 shares in the last quarter. 69.96% of the stock is owned by institutional investors and hedge funds.

Lakeland Financial Corporation (NASDAQ:LKFN) opened at 44.18 on Friday. Lakeland Financial Corporation has a 1-year low of $33.98 and a 1-year high of $48.88. The company has a market capitalization of $1.11 billion, a PE ratio of 19.81 and a beta of 0.83. The company has a 50 day moving average of $45.92 and a 200 day moving average of $44.81.

Lakeland Financial Corporation (NASDAQ:LKFN) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. The business had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. On average, analysts predict that Lakeland Financial Corporation will post $2.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Tuesday, July 25th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, July 21st. This represents a $0.88 annualized dividend and a yield of 1.99%. Lakeland Financial Corporation’s dividend payout ratio (DPR) is currently 39.46%.

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Several research firms recently weighed in on LKFN. BidaskClub cut shares of Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, June 27th. DA Davidson raised shares of Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Lakeland Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, April 18th.

In other Lakeland Financial Corporation news, insider Batty Jill A. De sold 600 shares of the company’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total value of $25,566.00. Following the completion of the transaction, the insider now owns 9,232 shares in the company, valued at approximately $393,375.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Michael E. Gavin sold 2,500 shares of the company’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $42.93, for a total value of $107,325.00. Following the completion of the transaction, the executive vice president now owns 2,018 shares of the company’s stock, valued at approximately $86,632.74. The disclosure for this sale can be found here. Insiders have sold 4,999 shares of company stock valued at $220,777 in the last quarter. 5.00% of the stock is currently owned by corporate insiders.

About Lakeland Financial Corporation

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.

Want to see what other hedge funds are holding LKFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Financial Corporation (NASDAQ:LKFN).

Institutional Ownership by Quarter for Lakeland Financial Corporation (NASDAQ:LKFN)

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