Copeland Capital Management LLC Has $48.58 Million Position in Lakeland Financial Co. (NASDAQ:LKFN)

Copeland Capital Management LLC raised its holdings in Lakeland Financial Co. (NASDAQ:LKFN) by 0.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 745,939 shares of the financial services provider’s stock after acquiring an additional 1,323 shares during the quarter. Copeland Capital Management LLC owned about 2.92% of Lakeland Financial worth $48,576,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Lakeland Financial by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 1,847,688 shares of the financial services provider’s stock valued at $120,395,000 after purchasing an additional 42,862 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Lakeland Financial by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider’s stock worth $50,232,000 after acquiring an additional 11,118 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Lakeland Financial by 5.8% during the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock valued at $14,386,000 after acquiring an additional 12,846 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of Lakeland Financial by 0.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider’s stock valued at $14,327,000 after acquiring an additional 684 shares in the last quarter. Finally, Raymond James & Associates lifted its holdings in Lakeland Financial by 132.5% in the 2nd quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock worth $6,042,000 after purchasing an additional 55,975 shares during the last quarter. 81.15% of the stock is owned by institutional investors.

Lakeland Financial Stock Down 3.1 %

LKFN opened at $65.13 on Tuesday. The stock’s 50 day moving average price is $65.07 and its two-hundred day moving average price is $63.13. The firm has a market capitalization of $1.66 billion, a P/E ratio of 17.99 and a beta of 0.65. Lakeland Financial Co. has a 12-month low of $46.26 and a 12-month high of $73.22.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.02. The business had revenue of $68.74 million for the quarter, compared to the consensus estimate of $60.70 million. Lakeland Financial had a net margin of 23.70% and a return on equity of 14.72%. Lakeland Financial’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. As a group, analysts anticipate that Lakeland Financial Co. will post 3.37 earnings per share for the current year.

Lakeland Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, October 25th. This represents a $1.92 annualized dividend and a dividend yield of 2.95%. Lakeland Financial’s payout ratio is 53.04%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Lakeland Financial from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Monday, July 29th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $71.00.

Insider Activity

In related news, CAO Brok A. Lahrman sold 415 shares of the business’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.91, for a total transaction of $28,597.65. Following the transaction, the chief accounting officer now directly owns 1,739 shares in the company, valued at $119,834.49. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Lakeland Financial news, SVP James Rickard Donovan sold 800 shares of Lakeland Financial stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,336.00. Following the sale, the senior vice president now directly owns 9,568 shares of the company’s stock, valued at approximately $625,938.56. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Brok A. Lahrman sold 415 shares of the stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.91, for a total value of $28,597.65. Following the completion of the transaction, the chief accounting officer now directly owns 1,739 shares of the company’s stock, valued at approximately $119,834.49. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,635 shares of company stock valued at $914,604. 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.