Citadel Advisors LLC Sells 4,455 Shares of Lakeland Financial Co. (LKFN)

Citadel Advisors LLC lowered its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 4.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 100,075 shares of the financial services provider’s stock after selling 4,455 shares during the period. Citadel Advisors LLC owned 0.40% of Lakeland Financial worth $4,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. WINTON GROUP Ltd grew its position in Lakeland Financial by 14.0% during the third quarter. WINTON GROUP Ltd now owns 10,005 shares of the financial services provider’s stock worth $465,000 after buying an additional 1,226 shares in the last quarter. MetLife Investment Advisors LLC grew its position in Lakeland Financial by 13.6% during the second quarter. MetLife Investment Advisors LLC now owns 11,384 shares of the financial services provider’s stock worth $549,000 after buying an additional 1,361 shares in the last quarter. Motley Fool Wealth Management LLC grew its position in Lakeland Financial by 1.8% during the third quarter. Motley Fool Wealth Management LLC now owns 105,985 shares of the financial services provider’s stock worth $4,926,000 after buying an additional 1,835 shares in the last quarter. Rhumbline Advisers grew its position in Lakeland Financial by 6.0% during the third quarter. Rhumbline Advisers now owns 35,322 shares of the financial services provider’s stock worth $1,642,000 after buying an additional 1,995 shares in the last quarter. Finally, Xact Kapitalforvaltning AB grew its position in Lakeland Financial by 22.4% during the third quarter. Xact Kapitalforvaltning AB now owns 10,930 shares of the financial services provider’s stock worth $508,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 70.95% of the company’s stock.

LKFN has been the topic of a number of analyst reports. ValuEngine downgraded Lakeland Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Boenning Scattergood reissued a “hold” rating on shares of Lakeland Financial in a research report on Friday, October 26th. BidaskClub raised Lakeland Financial from a “strong sell” rating to a “sell” rating in a research report on Tuesday, October 30th. Finally, Zacks Investment Research raised Lakeland Financial from a “hold” rating to a “buy” rating and set a $47.00 price target on the stock in a research report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.00.

In other Lakeland Financial news, Director M Scott Welch bought 8,000 shares of Lakeland Financial stock in a transaction on Monday, October 29th. The shares were purchased at an average price of $42.25 per share, with a total value of $338,000.00. Following the acquisition, the director now owns 136,448 shares in the company, valued at approximately $5,764,928. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Batty Jill A. De sold 1,800 shares of the firm’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $48.81, for a total value of $87,858.00. Following the completion of the sale, the insider now directly owns 10,386 shares in the company, valued at approximately $506,940.66. The disclosure for this sale can be found here. In the last ninety days, insiders acquired 10,124 shares of company stock worth $430,613. Company insiders own 4.40% of the company’s stock.

Shares of LKFN stock opened at $43.08 on Friday. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 18.03, a price-to-earnings-growth ratio of 1.40 and a beta of 0.75. Lakeland Financial Co. has a fifty-two week low of $39.41 and a fifty-two week high of $51.76. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97.

Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Thursday, October 25th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.02. The firm had revenue of $48.36 million for the quarter, compared to the consensus estimate of $48.60 million. Lakeland Financial had a return on equity of 15.54% and a net margin of 30.88%. On average, analysts forecast that Lakeland Financial Co. will post 3.09 earnings per share for the current year.

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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 Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

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

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