Hsbc Holdings PLC Takes Position in Lakeland Financial Co. (LKFN)

Hsbc Holdings PLC purchased a new stake in shares of Lakeland Financial Co. (NASDAQ:LKFN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,628 shares of the financial services provider’s stock, valued at approximately $909,000. Hsbc Holdings PLC owned about 0.09% of Lakeland Financial at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in LKFN. Walthausen & Co. LLC bought a new stake in shares of Lakeland Financial during the third quarter valued at approximately $11,014,000. Massachusetts Financial Services Co. MA grew its stake in shares of Lakeland Financial by 21.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 542,943 shares of the financial services provider’s stock valued at $21,805,000 after purchasing an additional 96,339 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Lakeland Financial by 100.2% during the third quarter. Renaissance Technologies LLC now owns 172,651 shares of the financial services provider’s stock valued at $8,025,000 after purchasing an additional 86,400 shares during the last quarter. BTIM Corp. grew its stake in shares of Lakeland Financial by 31.1% during the fourth quarter. BTIM Corp. now owns 298,363 shares of the financial services provider’s stock valued at $11,982,000 after purchasing an additional 70,769 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of Lakeland Financial during the third quarter valued at approximately $3,139,000. 71.65% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ LKFN opened at $42.83 on Monday. Lakeland Financial Co. has a fifty-two week low of $37.79 and a fifty-two week high of $51.25. The company has a market capitalization of $1.10 billion, a P/E ratio of 13.68, a price-to-earnings-growth ratio of 1.30 and a beta of 0.93. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.39.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Friday, January 25th. The financial services provider reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.80 by $0.03. Lakeland Financial had a net margin of 33.63% and a return on equity of 16.24%. The business had revenue of $49.70 million for the quarter, compared to analyst estimates of $48.48 million. Research analysts predict that Lakeland Financial Co. will post 3.3 EPS for the current fiscal year.

Several research firms have recently commented on LKFN. Zacks Investment Research raised shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $44.00 price target on the stock in a research note on Friday, December 28th. BidaskClub lowered shares of Lakeland Financial from a “hold” rating to a “sell” rating in a report on Friday, December 7th. Finally, ValuEngine upgraded shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.50.

In other Lakeland Financial news, EVP Michael E. Gavin sold 5,000 shares of the stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $45.43, for a total value of $227,150.00. Following the sale, the executive vice president now directly owns 5,299 shares in the company, valued at $240,733.57. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Thomas Hiatt bought 2,100 shares of the business’s stock in a transaction on Thursday, February 7th. The stock was purchased at an average price of $45.66 per share, for a total transaction of $95,886.00. Following the completion of the acquisition, the director now owns 20,291 shares of the company’s stock, valued at approximately $926,487.06. The disclosure for this purchase can be found here. Insiders sold 14,439 shares of company stock worth $665,431 over the last 90 days. 4.60% of the stock is currently owned by company insiders.

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About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

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Institutional Ownership by Quarter for Lakeland Financial (NASDAQ:LKFN)

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