According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
LKFN has been the subject of several other research reports. DA Davidson started coverage on Lakeland Financial Corp. in a research note on Thursday, July 21st. They set a neutral rating for the company. Keefe, Bruyette & Woods boosted their price objective on Lakeland Financial Corp. from $45.00 to $48.00 and gave the stock a market perform rating in a research report on Wednesday, July 27th. Six equities research analysts have rated the stock with a hold rating, Lakeland Financial Corp. presently has an average rating of Hold and an average price target of $39.33.
Lakeland Financial Corp. (NASDAQ:LKFN) opened at 34.41 on Wednesday. The firm has a market cap of $856.60 million, a price-to-earnings ratio of 17.80 and a beta of 0.82. Lakeland Financial Corp. has a 52-week low of $26.53 and a 52-week high of $37.74. The company’s 50-day moving average price is $35.49 and its 200-day moving average price is $33.07.
Lakeland Financial Corp. (NASDAQ:LKFN) last released its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.05. Lakeland Financial Corp. had a return on equity of 12.19% and a net margin of 30.35%. Analysts predict that Lakeland Financial Corp. will post $2.00 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 7th. Investors of record on Tuesday, October 25th will be given a dividend of $0.19 per share. The ex-dividend date is Friday, October 21st. This represents a $0.76 annualized dividend and a dividend yield of 2.21%. Lakeland Financial Corp.’s dividend payout ratio is presently 38.66%.
In other news, Director Charles E. Niemier purchased 554 shares of the business’s stock in a transaction on Friday, August 5th. The stock was purchased at an average price of $52.99 per share, with a total value of $29,356.46. Following the acquisition, the director now directly owns 144,361 shares in the company, valued at approximately $7,649,689.39. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Kevin L. Deardorff sold 4,263 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $35.24, for a total value of $150,228.12. Following the completion of the transaction, the insider now directly owns 43,324 shares of the company’s stock, valued at approximately $1,526,737.76. The disclosure for this sale can be found here. Corporate insiders own 4.90% of the company’s stock.
A number of institutional investors have recently bought and sold shares of LKFN. California Public Employees Retirement System boosted its position in Lakeland Financial Corp. by 16.5% in the second quarter. California Public Employees Retirement System now owns 44,500 shares of the financial services provider’s stock valued at $2,092,000 after buying an additional 6,300 shares during the period. Swiss National Bank raised its stake in Lakeland Financial Corp. by 1.5% in the second quarter. Swiss National Bank now owns 27,300 shares of the financial services provider’s stock valued at $1,283,000 after buying an additional 400 shares in the last quarter. Ngam Advisors L.P. raised its stake in Lakeland Financial Corp. by 6.7% in the second quarter. Ngam Advisors L.P. now owns 70,999 shares of the financial services provider’s stock valued at $3,337,000 after buying an additional 4,466 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Lakeland Financial Corp. by 0.5% in the second quarter. Bank of New York Mellon Corp now owns 121,130 shares of the financial services provider’s stock valued at $5,694,000 after buying an additional 555 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust bought a new stake in Lakeland Financial Corp. during the second quarter valued at $1,461,000. 44.84% of the stock is owned by hedge funds and other institutional investors.
About Lakeland Financial Corp.
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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