Lakeland Financial Corporation (NASDAQ:LKFN) CFO Lisa M. O’neill bought 500 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were acquired at an average cost of $43.50 per share, for a total transaction of $21,750.00. Following the transaction, the chief financial officer now directly owns 13,294 shares in the company, valued at approximately $578,289. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Lakeland Financial Corporation (NASDAQ:LKFN) opened at 44.31 on Monday. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 19.87 and a beta of 0.83. Lakeland Financial Corporation has a 12 month low of $33.98 and a 12 month high of $48.88. The stock’s 50 day moving average price is $45.89 and its 200 day moving average price is $44.81.
Lakeland Financial Corporation (NASDAQ:LKFN) last issued its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The firm had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. Equities research analysts predict that Lakeland Financial Corporation will post $2.37 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Tuesday, July 25th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, July 21st. Lakeland Financial Corporation’s dividend payout ratio is currently 39.46%.
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Several equities research analysts have recently weighed in on the company. Zacks Investment Research lowered Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. BidaskClub lowered Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. DA Davidson raised Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on Lakeland Financial Corporation and gave the stock a “hold” rating in a research report on Tuesday, April 18th.
A number of hedge funds and other institutional investors have recently modified their holdings of LKFN. Neuberger Berman Group LLC acquired a new position in shares of Lakeland Financial Corporation during the second quarter worth approximately $16,070,000. Bank of New York Mellon Corp increased its position in shares of Lakeland Financial Corporation by 51.3% in the first quarter. Bank of New York Mellon Corp now owns 290,127 shares of the financial services provider’s stock worth $12,510,000 after buying an additional 98,331 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Lakeland Financial Corporation by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 806,256 shares of the financial services provider’s stock worth $34,766,000 after buying an additional 89,271 shares in the last quarter. Stifel Financial Corp increased its position in shares of Lakeland Financial Corporation by 18.3% in the first quarter. Stifel Financial Corp now owns 258,654 shares of the financial services provider’s stock worth $11,158,000 after buying an additional 39,940 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of Lakeland Financial Corporation by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,055,655 shares of the financial services provider’s stock worth $45,519,000 after buying an additional 35,653 shares in the last quarter. 70.76% of the stock is owned by hedge funds and other institutional investors.
About Lakeland Financial Corporation
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.
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