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

SYM FINANCIAL Corp trimmed its stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 12.9% in the first quarter, Holdings Channel.com reports. The firm owned 28,347 shares of the financial services provider’s stock after selling 4,182 shares during the quarter. Lakeland Financial comprises approximately 0.3% of SYM FINANCIAL Corp’s investment portfolio, making the stock its 22nd biggest position. SYM FINANCIAL Corp’s holdings in Lakeland Financial were worth $1,880,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LKFN. American Century Companies Inc. raised its holdings in Lakeland Financial by 18.2% in the 3rd quarter. American Century Companies Inc. now owns 105,703 shares of the financial services provider’s stock valued at $5,017,000 after buying an additional 16,279 shares during the last quarter. Moody National Bank Trust Division acquired a new position in shares of Lakeland Financial during the fourth quarter worth $234,000. Legato Capital Management LLC grew its stake in shares of Lakeland Financial by 40.0% in the fourth quarter. Legato Capital Management LLC now owns 9,475 shares of the financial services provider’s stock worth $617,000 after purchasing an additional 2,708 shares during the last quarter. Raymond James & Associates grew its stake in shares of Lakeland Financial by 1.8% in the fourth quarter. Raymond James & Associates now owns 40,160 shares of the financial services provider’s stock worth $2,617,000 after purchasing an additional 698 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new stake in Lakeland Financial in the fourth quarter valued at $273,000. Institutional investors own 81.15% of the company’s stock.

Insider Activity at Lakeland Financial

In other news, SVP Kyra E. Clark sold 500 shares of Lakeland Financial stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $62.03, for a total value of $31,015.00. Following the completion of the transaction, the senior vice president now directly owns 7,596 shares of the company’s stock, valued at approximately $471,179.88. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 3.30% of the stock is owned by company insiders.

Lakeland Financial Trading Up 1.3 %

LKFN traded up $0.83 during midday trading on Friday, hitting $62.62. 32,381 shares of the company were exchanged, compared to its average volume of 116,569. The firm’s 50 day moving average price is $60.90 and its 200-day moving average price is $62.73. Lakeland Financial Co. has a 1-year low of $44.47 and a 1-year high of $73.22. The firm has a market capitalization of $1.60 billion, a P/E 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 (NASDAQ:LKFN) last posted its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.88 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.02. Lakeland Financial had a return on equity of 14.34% and a net margin of 22.81%. The company had revenue of $60.03 million for the quarter, compared to analyst estimates of $58.10 million. As a group, equities analysts forecast that Lakeland Financial Co. will post 3.41 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Thursday, July 25th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.07%. The ex-dividend date of this dividend is Thursday, July 25th. Lakeland Financial’s dividend payout ratio is presently 53.04%.

Lakeland Financial 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.