Lakeland Financial Co. (NASDAQ:LKFN) CAO Sells $11,326.50 in Stock

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

Lakeland Financial Stock Up 1.2 %

Shares of NASDAQ:LKFN opened at $72.38 on Friday. The firm has a market cap of $1.85 billion, a P/E ratio of 18.80 and a beta of 0.65. Lakeland Financial Co. has a 12-month low of $50.36 and a 12-month high of $78.31. The business has a fifty day simple moving average of $65.69 and a 200 day simple moving average of $63.77.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. The firm had revenue of $106.94 million during the quarter, compared to the consensus estimate of $59.90 million. During the same period last year, the business posted $0.98 EPS. As a group, equities research analysts expect that Lakeland Financial Co. will post 3.42 EPS for the current year.

Lakeland Financial Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th were issued a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a yield of 2.65%. Lakeland Financial’s payout ratio is currently 49.87%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Lakeland Financial

A number of large investors have recently bought and sold shares of the business. Louisiana State Employees Retirement System grew its holdings in Lakeland Financial by 1.6% during the 2nd quarter. Louisiana State Employees Retirement System now owns 12,800 shares of the financial services provider’s stock worth $787,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC grew its stake 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 valued at $42,000 after buying an additional 235 shares during the period. Inspire Investing LLC grew its stake in shares of Lakeland Financial by 5.1% in the 2nd quarter. Inspire Investing LLC now owns 5,679 shares of the financial services provider’s stock valued at $349,000 after buying an additional 277 shares during the period. Arizona State Retirement System grew its stake in shares of Lakeland Financial by 4.0% in the 2nd quarter. Arizona State Retirement System now owns 7,269 shares of the financial services provider’s stock valued at $447,000 after buying an additional 280 shares during the period. Finally, Texas Permanent School Fund Corp grew its stake in shares of Lakeland Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,257 shares of the financial services provider’s stock valued at $1,476,000 after buying an additional 287 shares during the period. 81.15% of the stock is currently owned by institutional investors and hedge funds.

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.