Victory Capital Management Discloses 1.6M Share Stake in Lakeland Financial

TL;DR

**Victory Capital Management just revealed a big stake in Lakeland Financial, signaling institutional confidence.**

AI Summary

Victory Capital Management Inc., a New York-based investment firm, has reported beneficial ownership of 1,618,829 shares of Lakeland Financial Corp. common stock as of December 31, 2023. This filing, an SC 13G, indicates that Victory Capital Management Inc. holds sole voting and sole dispositive power over these shares, representing a significant stake in the company. This matters to investors because a large institutional holder like Victory Capital Management Inc. taking a substantial position can signal confidence in Lakeland Financial Corp.'s future prospects, potentially influencing other investors.

Why It Matters

This filing reveals a major institutional investor's significant stake, which can be seen as a vote of confidence in Lakeland Financial Corp. and may attract further investor interest.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of an institutional ownership stake and does not inherently present a direct risk to investors.

Analyst Insight

A smart investor would research Victory Capital Management Inc.'s investment thesis for Lakeland Financial Corp. and consider if this institutional confidence aligns with their own investment strategy.

Key Numbers

• 1,618,829 — Shares Beneficially Owned (Represents the total number of Lakeland Financial Corp. shares held by Victory Capital Management Inc.)
• 511656100 — CUSIP Number (Unique identifier for Lakeland Financial Corp.'s common stock.)

Key Players & Entities

• Victory Capital Management Inc. (company) — reporting person and beneficial owner of shares
• Lakeland Financial Corp. (company) — the issuer of the securities
• New York (company) — place of organization for Victory Capital Management Inc.
• December 31, 2023 (date) — date of event requiring the filing

Forward-Looking Statements

• Other institutional investors may increase their positions in Lakeland Financial Corp. following this disclosure. (Lakeland Financial Corp.) — medium confidence, target: Within 6 months

FAQ

Filing Documents

• lakelandfinancial13g_123123.htm (SC 13G) — 38KB
• 0001040188-24-000033.txt ( ) — 39KB

If this statement is filed

Item 3. If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) ¨ Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) ¨ Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) ¨ Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) ¨ Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). (e) x An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); (f) ¨ An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); (g) ¨ A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G); (h) ¨ A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) ¨ A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) ¨ Group, in accordance with §240.13d-1(b)(1)(ii)(J).

Ownership

Item 4. Ownership. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 1,627,094 (b) Percent of class: 6.40% (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 1,618,829 (ii) Shared power to vote or to direct the vote: 0 (iii) Sole power to dispose or to direct the disposition of: 1,627,094 (iv) Shared power to dispose or to direct the disposition of: 0 Instruction . For computations regarding securities which represent a right to acquire an underlying security see §240.13d-3(d)(1).

Ownership of Five Percent

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial

Ownership of More than

Item 6. Ownership of More than Five Percent on Behalf of Another Person. The clients of Victory Capital Management Inc., including investment companies registered under the Investment Company Act of 1940 and separately managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the class of securities reported herein of Lakeland Financial Corp. No client has the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, more than 5% of such class.

Identification and Classification

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company. Not applicable.

Identification and Classification

Item 8. Identification and Classification of Members of the Group. Not applicable.

Notice of Dissolution

Item 9. Notice of Dissolution of Group. Not applicable. CUSIP No. 511656100 13G Page 4 of 4 Pages

Certification

Item 10. Certification. (a) The following certification shall be included if the statement is filed pursuant to §240.13d-1(b): By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. 2/7/2024 Date /s / Barry Garrett Barry Garrett/Chief Compliance Officer

View Full Filing

View this SC 13G filing on SEC EDGAR