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

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

Lakeland Financial Stock Performance

Shares of Lakeland Financial stock opened at $71.54 on Friday. The stock has a 50 day moving average price of $65.60 and a 200-day moving average price of $63.70. Lakeland Financial Co. has a one year low of $50.36 and a one year high of $78.31. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 18.58 and a beta of 0.65.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The company had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. During the same period in the previous year, the firm earned $0.98 earnings per share. Sell-side analysts predict that Lakeland Financial Co. will post 3.4 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.68%. The ex-dividend date of this dividend was Friday, October 25th. Lakeland Financial’s payout ratio is currently 49.87%.

Analyst Upgrades and Downgrades

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

Institutional Trading of Lakeland Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. nVerses Capital LLC purchased a new position in shares of Lakeland Financial during the second quarter worth approximately $31,000. Fifth Third Bancorp lifted its position 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 valued at $36,000 after buying an additional 459 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Lakeland Financial by 58.0% in the 3rd quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock worth $42,000 after buying an additional 235 shares during the last quarter. US Bancorp DE raised its stake in shares of Lakeland Financial by 72.2% during the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock worth $138,000 after acquiring an additional 890 shares in the last quarter. Finally, Quest Partners LLC raised its stake in shares of Lakeland Financial by 33,337.5% during the 3rd quarter. Quest Partners LLC now owns 2,675 shares of the financial services provider’s stock worth $174,000 after acquiring an additional 2,667 shares in the last quarter. Hedge funds and other institutional investors own 81.15% of the company’s stock.

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.