Cwm LLC Reduces Position in Lakeland Financial Co. (NASDAQ:LKFN)

Cwm LLC reduced its stake in Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) stock by 19.0% in the first quarter, reports. The company owned 22,320 shares of the financial services provider after selling 5,251 shares during the quarter. Cwm LLC’s holdings in Lakeland Financial were worth $1,629,000 at the end of the most recent quarter.

Several other major investors have recently added to or reduced their stakes in the company. Boston Trust Walden Corp increased its stake in Lakeland Financial by 2.2% during the first quarter. Boston Trust Walden Corp now owns 369,458 shares of the financial services firm valued at $26,971,000 after purchasing an additional 7,777 shares during the period. Security Financial Services INC. increased its stake in Lakeland Financial by 5.1% in the first quarter. Security Financial Services INC. now owns 12,057 shares of the financial services firm, valued at $880,000, after purchasing an additional 585 shares during the period. Copeland Capital Management LLC increased its stake in Lakeland Financial by 1.9% in the first quarter. Copeland Capital Management LLC now owns 515,314 shares of the financial services firm valued at $37,618,000 after purchasing an additional 9,371 shares during the period. Barclays PLC increased its stake in Lakeland Financial by 83.2% in the fourth quarter. Barclays PLC now owns 69,131 shares of the financial services provider, valued at $5,540,000, having purchased an additional 31,388 shares during the period. Finally, Cetera Investment Advisers increased its stake in Lakeland Financial by 338.6% during the fourth quarter. Cetera Investment Advisers now owns 13,018 shares of the financial services provider, valued at $1,043,000, having purchased an additional 10,050 shares during the period. 80.34% of the shares are owned by hedge funds and other institutional investors.

In addition, on Monday, June 13, Director Robert E. Bartels, Jr. acquired 755 shares of the stock in a transaction. The stock was purchased at an average price of $67.29 per share for a total value of $50,803.95. Upon completion of the transaction, the Director now owns 26,213 shares of the Company, valued at approximately $1,763,872.77. The purchase was disclosed in a document filed with the SEC, which can be accessed at this link. Company insiders own 4.00% of the company’s stock.

Shares of LKFN stock opened at $67.29 on Tuesday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt to equity ratio of 0.12. The company has a market cap of $1.71 billion, a price-to-earnings ratio of 17.90 and a beta of 0.71. The stock has a 50-day moving average of $70.07 and a 200-day moving average of $75.67. Lakeland Financial Co. has a 52-week low of $56.06 and a 52-week high of $85.71.

Lakeland Financial (NASDAQ:LKFN – Get Rating) last announced its quarterly earnings data on Monday, April 25th. The financial services firm reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The company had revenue of $55.57 million for the quarter, compared to analyst estimates of $56.46 million. Lakeland Financial had a return on equity of 14.41% and a net margin of 40.82%. In the same quarter last year, the company posted earnings per share of $0.90. Equity analysts expect Lakeland Financial Co. to report earnings per share of 3.93 for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 5th. Stockholders of record on Monday, April 25 received a dividend of $0.40 per share. That equates to an annualized dividend of $1.60 and a yield of 2.38%. The ex-dividend date of this dividend was Friday April 22nd. Lakeland Financial’s payout ratio is currently 42.55%.

Separately, downgraded Lakeland Financial from a “hold” rating to a “sell” rating in a research note on Monday, May 23.

Financial profile of Lakeland (received rating)

Lakeland Financial Corporation acts as the bank holding company for Lake City Bank, which provides various banking products and services. The company accepts various insoles products such as: B. Interest-free, interest-bearing checks, savings deposits, money market, NOW and sight deposits. Lending products include commercial and industrial real estate, commercial real estate and multi-family homes, agribusiness and agriculture, 1-4 family consumer mortgages and other consumer loans.

Selected items

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

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