SYM FINANCIAL Corp Sells 4,182 Shares of Lakeland Financial Co. (NASDAQ:LKFN)

SYM FINANCIAL Corp trimmed its stake in Lakeland Financial Co. (NASDAQ:LKFN) by 12.9% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 28,347 shares of the financial services provider’s stock after selling 4,182 shares during the period. Lakeland Financial accounts for about 0.3% of SYM FINANCIAL Corp’s investment portfolio, making the stock its 22nd largest position. SYM FINANCIAL Corp owned approximately 0.11% of Lakeland Financial worth $1,880,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. SRS Capital Advisors Inc. boosted its holdings in Lakeland Financial by 359.1% in the 4th quarter. SRS Capital Advisors Inc. now owns 629 shares of the financial services provider’s stock valued at $41,000 after purchasing an additional 492 shares during the period. GAMMA Investing LLC bought a new stake in shares of Lakeland Financial in the fourth quarter valued at about $60,000. Nisa Investment Advisors LLC grew its position in Lakeland Financial by 10,016.7% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,214 shares of the financial services provider’s stock worth $79,000 after buying an additional 1,202 shares in the last quarter. Everence Capital Management Inc. bought a new position in Lakeland Financial during the fourth quarter valued at about $201,000. Finally, Sippican Capital Advisors acquired a new position in Lakeland Financial in the 1st quarter valued at approximately $223,000. Institutional investors own 81.15% of the company’s stock.

Lakeland Financial Stock Performance

Shares of LKFN stock traded up $0.83 during mid-day trading on Friday, reaching $62.62. The stock had a trading volume of 32,381 shares, compared to its average volume of 116,569. The firm has a market cap of $1.60 billion, a PE ratio of 17.07 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. Lakeland Financial Co. has a one year low of $44.47 and a one year high of $73.22. The firm’s 50 day simple moving average is $60.90 and its 200 day simple moving average is $62.73.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.88 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. The firm had revenue of $60.03 million for the quarter, compared to the consensus estimate of $58.10 million. Lakeland Financial had a net margin of 22.81% and a return on equity of 14.34%. On average, analysts forecast that Lakeland Financial Co. will post 3.41 EPS for the current year.

Lakeland Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Thursday, July 25th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, July 25th. Lakeland Financial’s dividend payout ratio (DPR) is presently 53.04%.

Insiders Place Their Bets

In other news, SVP Kyra E. Clark sold 500 shares of the company’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $62.03, for a total value of $31,015.00. Following the sale, the senior vice president now directly owns 7,596 shares in the company, valued at approximately $471,179.88. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 3.30% of the company’s stock.

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 the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.