Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) CFO Lisa M. O'neill sold 1,100 shares of Lakeland Financial stock in a transaction that occurred on Thursday, September 15th. The shares were sold at an average price of $76.79, for a total transaction of $84,469.00. Following the completion of the sale, the chief financial officer now owns 24,320 shares of the company's stock, valued at $1,867,532.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Lakeland Financial Stock Down 2.0 %
Shares of LKFN traded down $1.59 during midday trading on Friday, hitting $76.56. The company's stock had a trading volume of 787 shares, compared to its average volume of 75,448. Lakeland Financial Co. has a one year low of $62.44 and a one year high of $85.71. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of 20.51 and a beta of 0.77. The company's fifty day simple moving average is $74.69 and its two-hundred day simple moving average is $73.43.
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Lakeland Financial (NASDAQ:LKFN – Get Rating) last released its earnings results on Monday, July 25th. The financial services provider reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. Lakeland Financial had a return on equity of 15.27% and a net margin of 40.50%. During the same period in the previous year, the firm earned $0.95 EPS. On average, research analysts predict that Lakeland Financial Co. will post 4.01 earnings per share for the current year.
Lakeland Financial Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Investors of record on Monday, July 25th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend was Friday, July 22nd. Lakeland Financial's payout ratio is 41.99%.
Wall Street Analysts Forecast Growth
A number of research firms recently commented on LKFN. Stephens upped their price objective on shares of Lakeland Financial to $80.00 in a research report on Tuesday, August 23rd. StockNews.com upgraded shares of Lakeland Financial from a "sell" rating to a "hold" rating in a research report on Tuesday, July 26th.
Institutional Trading of Lakeland Financial
A number of hedge funds have recently added to or reduced their stakes in LKFN. Tower View Investment Management & Research LLC bought a new position in shares of Lakeland Financial in the 2nd quarter valued at $27,000. Nisa Investment Advisors LLC raised its position in Lakeland Financial by 70.4% in the second quarter. Nisa Investment Advisors LLC now owns 484 shares of the financial services provider's stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Lakeland Financial by 45.3% during the second quarter. Captrust Financial Advisors now owns 542 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 169 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of Lakeland Financial by 2,390.2% during the second quarter. First Horizon Advisors Inc. now owns 1,519 shares of the financial services provider's stock worth $100,000 after purchasing an additional 1,458 shares during the last quarter. Finally, KBC Group NV acquired a new position in shares of Lakeland Financial in the second quarter valued at approximately $138,000. Institutional investors and hedge funds own 81.26% of the company's stock.
About Lakeland Financial
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Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.
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