Lakeland Financial Co. (NASDAQ:LKFN) SVP Sells $161,715.20 in Stock

Lakeland Financial Co. (NASDAQ:LKFNGet Free Report) SVP Stephanie R. Leniski sold 2,560 shares of the company’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $63.17, for a total transaction of $161,715.20. Following the completion of the transaction, the senior vice president now owns 4,270 shares in the company, valued at $269,735.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lakeland Financial Trading Up 1.6 %

NASDAQ:LKFN opened at $66.06 on Monday. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a 50-day simple moving average of $64.51 and a 200-day simple moving average of $56.16. Lakeland Financial Co. has a one year low of $43.05 and a one year high of $73.22. The firm has a market cap of $1.68 billion, a P/E ratio of 18.10 and a beta of 0.70.

Lakeland Financial (NASDAQ:LKFNGet Free Report) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.98 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10. Lakeland Financial had a net margin of 23.85% and a return on equity of 14.89%. The company had revenue of $65.81 million during the quarter, compared to the consensus estimate of $59.81 million. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Equities analysts anticipate that Lakeland Financial Co. will post 3.49 EPS for the current fiscal year.

Lakeland Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Thursday, January 25th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Wednesday, January 24th. This is a positive change from Lakeland Financial’s previous quarterly dividend of $0.46. Lakeland Financial’s dividend payout ratio is currently 52.60%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on LKFN shares. Stephens upped their target price on shares of Lakeland Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Raymond James increased their price objective on Lakeland Financial from $60.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. StockNews.com raised Lakeland Financial to a “sell” rating in a research report on Thursday, October 26th. Finally, TheStreet raised Lakeland Financial from a “c+” rating to a “b-” rating in a research report on Monday, December 4th.

View Our Latest Analysis on LKFN

Institutional Investors Weigh In On Lakeland Financial

Institutional investors have recently added to or reduced their stakes in the business. BlackRock Inc. grew its position in Lakeland Financial by 3.5% during the 1st quarter. BlackRock Inc. now owns 3,807,592 shares of the financial services provider’s stock worth $277,953,000 after purchasing an additional 128,992 shares during the last quarter. Vanguard Group Inc. raised its stake in Lakeland Financial by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 1,838,241 shares of the financial services provider’s stock worth $133,843,000 after acquiring an additional 35,326 shares during the last quarter. Victory Capital Management Inc. raised its stake in Lakeland Financial by 12.0% in the 4th quarter. Victory Capital Management Inc. now owns 1,627,094 shares of the financial services provider’s stock worth $106,021,000 after acquiring an additional 174,613 shares during the last quarter. State Street Corp lifted its position in Lakeland Financial by 27.4% during the 1st quarter. State Street Corp now owns 1,308,005 shares of the financial services provider’s stock worth $95,484,000 after acquiring an additional 280,943 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in Lakeland Financial by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 781,429 shares of the financial services provider’s stock valued at $50,920,000 after purchasing an additional 10,595 shares during the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.

About Lakeland Financial

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Lakeland Financial (NASDAQ:LKFN)

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