Lakeland Financial Corporation $LKFN Holdings Decreased by Neumeier Poma Investment Counsel LLC

Neumeier Poma Investment Counsel LLC reduced its holdings in Lakeland Financial Corporation (NASDAQ:LKFN) by 2.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 464,425 shares of the financial services provider’s stock after selling 10,677 shares during the period. Lakeland Financial comprises about 2.7% of Neumeier Poma Investment Counsel LLC’s holdings, making the stock its 20th largest holding. Neumeier Poma Investment Counsel LLC owned approximately 1.82% of Lakeland Financial worth $28,539,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. SG Americas Securities LLC grew its holdings in shares of Lakeland Financial by 19.9% during the 2nd quarter. SG Americas Securities LLC now owns 6,611 shares of the financial services provider’s stock valued at $406,000 after acquiring an additional 1,099 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in Lakeland Financial by 7.5% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 6,562 shares of the financial services provider’s stock valued at $403,000 after purchasing an additional 457 shares during the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in Lakeland Financial by 9.0% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 5,768 shares of the financial services provider’s stock valued at $354,000 after purchasing an additional 476 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in Lakeland Financial in the 2nd quarter worth about $597,000. Finally, ProShare Advisors LLC raised its stake in shares of Lakeland Financial by 1,699.4% during the 2nd quarter. ProShare Advisors LLC now owns 105,663 shares of the financial services provider’s stock worth $6,493,000 after purchasing an additional 99,791 shares in the last quarter. 81.15% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Financial Stock Performance

LKFN opened at $56.30 on Wednesday. The firm has a market cap of $1.44 billion, a P/E ratio of 14.85 and a beta of 0.67. The business has a 50 day moving average price of $61.48 and a 200 day moving average price of $62.31. Lakeland Financial Corporation has a twelve month low of $50.00 and a twelve month high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Monday, October 27th. The financial services provider reported $1.03 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.01. Lakeland Financial had a net margin of 23.23% and a return on equity of 13.77%. The company had revenue of $69.03 million for the quarter, compared to analyst estimates of $69.15 million. During the same quarter last year, the firm posted $0.91 earnings per share. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. As a group, analysts anticipate that Lakeland Financial Corporation will post 3.7 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 5th. Investors of record on Saturday, October 25th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.6%. The ex-dividend date was Friday, October 24th. Lakeland Financial’s dividend payout ratio (DPR) is 52.77%.

Analyst Ratings Changes

LKFN has been the subject of several recent research reports. Keefe, Bruyette & Woods lowered their price target on Lakeland Financial from $68.00 to $66.00 and set a “market perform” rating for the company in a research note on Tuesday, October 28th. Raymond James Financial reissued an “outperform” rating and issued a $68.00 target price (down from $74.00) on shares of Lakeland Financial in a research report on Tuesday, October 28th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Lakeland Financial in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.67.

Insiders Place Their Bets

In other Lakeland Financial news, EVP Eric H. Ottinger sold 4,635 shares of the company’s stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $67.07, for a total transaction of $310,869.45. Following the completion of the sale, the executive vice president directly owned 32,282 shares in the company, valued at $2,165,153.74. This represents a 12.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.00% of the stock is currently owned by corporate insiders.

About Lakeland Financial

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.