3,639,015 Shares in Lakeland Financial Corporation $LKFN Acquired by BlackRock Inc.

Posted by Stanley Muller on Aug 28th, 2026

BlackRock Inc. purchased a new stake in shares of Lakeland Financial Corporation (NASDAQ:LKFN – Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 3,639,015 shares of the financial services provider’s stock, valued at approximately $224,600,000. BlackRock Inc. owned approximately 0.15% of Lakeland Financial at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of Lakeland Financial by 403.6% during the 2nd quarter. First Trust Advisors LP now owns 383,525 shares of the financial services provider’s stock valued at $23,568,000 after purchasing an additional 307,371 shares during the period. Bank of New York Mellon Corp bought a new stake in Lakeland Financial during the second quarter valued at about $12,857,000. Millennium Management LLC lifted its position in shares of Lakeland Financial by 327.9% in the first quarter. Millennium Management LLC now owns 199,323 shares of the financial services provider’s stock valued at $11,848,000 after acquiring an additional 152,738 shares in the last quarter. Bank of America Corp DE boosted its stake in shares of Lakeland Financial by 68.8% in the third quarter. Bank of America Corp DE now owns 321,031 shares of the financial services provider’s stock worth $20,610,000 after acquiring an additional 130,897 shares during the period. Finally, Jane Street Group LLC purchased a new stake in shares of Lakeland Financial during the first quarter worth about $6,500,000. 81.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on LKFN. Weiss Ratings downgraded Lakeland Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research note on Sunday, August 9th. One investment analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, Lakeland Financial presently has an average rating of “Hold” and a consensus target price of $66.50.

Check Out Our Latest Stock Report on Lakeland Financial

Lakeland Financial Stock Down 0.5%

LKFN stock opened at $59.19 on Friday. Lakeland Financial Corporation has a 52 week low of $54.36 and a 52 week high of $69.40. The firm has a market capitalization of $1.47 billion, a P/E ratio of 13.58 and a beta of 0.72. The company has a fifty day simple moving average of $61.58 and a two-hundred day simple moving average of $60.14.

Lakeland Financial (NASDAQ:LKFN – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.13 EPS for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The firm had revenue of $70.87 million during the quarter, compared to the consensus estimate of $72.11 million. Lakeland Financial had a net margin of 26.04% and a return on equity of 14.67%. During the same quarter last year, the firm earned $1.04 EPS. As a group, analysts anticipate that Lakeland Financial Corporation will post 4.38 EPS for the current year.

Lakeland Financial Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 5th. Stockholders of record on Saturday, July 25th were issued a $0.52 dividend. The ex-dividend date was Friday, July 24th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.5%. Lakeland Financial’s payout ratio is 47.71%.

About Lakeland Financial

(Free Report)

Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.

Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.