Lakeland Financial Co. (NASDAQ:LKFN) CAO Brok A. Lahrman Sells 312 Shares
Lakeland Financial Co. (NASDAQ:LKFN – Get a rating) CAO Brok A. Lahrman sold 312 shares of Lakeland Financial in a trade that took place on Friday, October 28. The shares were sold at an average price of $82.03, for a total transaction of $25,593.36. Following the completion of the sale, the chief accounting officer now owns 588 shares of the company, valued at approximately $48,233.64. The transaction was disclosed in a document filed with the SEC, accessible via this hyperlink.
Lakeland Financial Trading up 0.8%
Shares of Lakeland Financial Action traded at $0.69 on Friday, reaching $82.52. 4,888 shares were traded, against an average volume of 93,771. Lakeland Financial Co. has a 1-year low of $64.05 and a 1-year high of $85.71. The company has a fifty-day moving average price of $76.45 and a two-hundred-day moving average price of $73.35. The company has a market capitalization of $2.09 billion, a PE ratio of 20.56 and a beta of 0.74.
Lakeland Financial (NASDAQ:LKFN – Get a rating) last released its results on Monday, July 25. The financial services provider reported earnings per share of $1.00 for the quarter, beating the consensus estimate of $0.95 by $0.05. Lakeland Financial had a net margin of 40.28% and a return on equity of 17.06%. The company posted revenue of $59.17 million for the quarter, versus analyst estimates of $59.42 million. In the same period a year earlier, the company posted earnings of $0.95 per share. Research analysts expect Lakeland Financial Co. to post EPS of 4.07 for the current year.
Lakeland Financial Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, November 7. Shareholders of record on Tuesday, October 25 will receive a dividend of $0.40 per share. The ex-dividend date is Monday, October 24. This represents an annualized dividend of $1.60 and a yield of 1.94%. Lakeland Financial’s payout ratio is currently 40.20%.
Changes to analyst ratings
Several analysts have recently weighed in on the stock. Stephens raised his price target on Lakeland Financial shares to $80.00 in a Tuesday, August 23 report. StockNews.com began covering Lakeland Financial shares in a research note on Wednesday, October 12. They issued a “hold” rating on the stock.
Institutional entries and exits
Several institutional investors and hedge funds have recently increased or reduced their stake in LKFN. Envestnet Asset Management Inc. increased its holdings of Lakeland Financial shares by 4.6% in the first quarter. Envestnet Asset Management Inc. now owns 65,361 shares of the financial services provider valued at $4,771,000 after buying 2,856 additional shares last quarter. Boston Trust Walden Corp increased its stake in shares of Lakeland Financial by 0.8% during the second quarter. Boston Trust Walden Corp now owns 372,479 shares of the financial services provider valued at $24,740,000 after purchasing an additional 3,021 shares during the period. Advisor Group Holdings Inc. increased its stake in shares of Lakeland Financial by 49.3% during the first quarter. Advisor Group Holdings Inc. now owns 13,370 shares of the financial services provider valued at $686,000 after purchasing an additional 4,413 shares during the period. Krane Funds Advisors LLC increased its stake in shares of Lakeland Financial by 3.5% during the first quarter. Krane Funds Advisors LLC now owns 10,197 shares of the financial services provider valued at $744,000 after purchasing an additional 341 shares during the period. Finally, Aptus Capital Advisors LLC increased its stake in Lakeland Financial shares by 3.8% during the second quarter. Aptus Capital Advisors LLC now owns 38,686 shares of the financial services provider valued at $2,570,000 after purchasing an additional 1,422 shares during the period. 81.26% of the shares are currently held by institutional investors and hedge funds.
About Lakeland Financial
Lakeland Financial Corporation operates as a bank holding company for Lake City Bank which provides various banking products and services. The company accepts various deposit products, such as interest-free deposits, interest-bearing checks, savings, money market, NOW and demand deposits. Its lending products include commercial and industrial loans, commercial and multi-family residential real estate, agribusiness and agriculture, consumer mortgages for 1 to 4 families and other consumer loans.
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