Lakeland Financial Co. (NASDAQ:LKFN) CAO Brok A. Lahrman Sells 150 Shares of Stock

Lakeland Financial Co. (NASDAQ:LKFN) CAO Brok A. Lahrman sold 150 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.51, for a total transaction of $11,326.50. Following the sale, the chief accounting officer now owns 1,589 shares of the company’s stock, valued at $119,985.39. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Lakeland Financial Stock Up 11.1 %

NASDAQ:LKFN opened at $73.94 on Thursday. Lakeland Financial Co. has a 52-week low of $50.36 and a 52-week high of $78.31. The stock’s 50 day moving average price is $65.52 and its 200 day moving average price is $63.64. The company has a market capitalization of $1.89 billion, a PE ratio of 19.21 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The business had revenue of $106.94 million for the quarter, compared to analysts’ expectations of $59.90 million. During the same period in the previous year, the company posted $0.98 EPS. As a group, sell-side analysts anticipate that Lakeland Financial Co. will post 3.4 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.60%. Lakeland Financial’s payout ratio is 49.87%.

Institutional Investors Weigh In On Lakeland Financial

Several hedge funds have recently made changes to their positions in LKFN. nVerses Capital LLC acquired a new stake in Lakeland Financial during the 2nd quarter worth approximately $31,000. Fifth Third Bancorp lifted its holdings in shares of Lakeland Financial by 342.5% during the second quarter. Fifth Third Bancorp now owns 593 shares of the financial services provider’s stock worth $36,000 after purchasing an additional 459 shares during the period. GAMMA Investing LLC grew its position in Lakeland Financial by 58.0% in the 3rd quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock valued at $42,000 after buying an additional 235 shares during the last quarter. US Bancorp DE increased its stake in Lakeland Financial by 72.2% in the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock valued at $138,000 after buying an additional 890 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in Lakeland Financial during the 3rd quarter worth $201,000. Institutional investors and hedge funds own 81.15% of the company’s stock.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods lifted their price target on shares of Lakeland Financial from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th.

Lakeland Financial Company Profile

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides 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.