From MarketBeat:

FORVIS Wealth Advisors LLC reduced its stake in Lakeland Financial Co. (NASDAQ:LKFN) by 82.4% in the 3rd quarter, selling 55,435 shares. The institutional investor held 11,822 shares worth $561,000. Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hedge funds and other institutional investors own 80.70% of the company’s stock.

Lakeland Financial stock opened at $63.67 on Tuesday, with a 52-week low of $43.05 and a 52-week high of $77.07. The firm has a market capitalization of $1.62 billion, a price-to-earnings ratio of 18.19 and a beta of 0.72. Lakeland Financial last reported quarterly earnings of $0.98 per share, above the consensus estimate of $0.92.

Several equities research analysts recently commented on the stock, with StockNews.com giving it a “sell” rating. TheStreet raised Lakeland Financial from a “c+” to a “b-“, while Raymond James set an “outperform” rating. Analysts anticipate that Lakeland Financial Co. will post 3.37 EPS for the current fiscal year.

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank, offering 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.



Read more: Lakeland Financial Co. (NASDAQ:LKFN) Shares Sold by FORVIS Wealth Advisors LLC