Lakeland Financial Co. (NASDAQ:LKFN - Get Free Report) CAO Brok A. Lahrman sold 150 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $75.51, for a total value of $11,326.50. Following the transaction, the chief accounting officer now directly owns 1,589 shares of the company's stock, valued at approximately $119,985.39. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.
Lakeland Financial Stock Performance
Shares of LKFN stock opened at $73.94 on Thursday. The stock has a fifty day moving average price of $65.52 and a 200 day moving average price of $63.64. The stock has a market cap of $1.89 billion, a PE ratio of 19.21 and a beta of 0.65. Lakeland Financial Co. has a 1 year low of $50.36 and a 1 year high of $78.31.
Lakeland Financial (NASDAQ:LKFN - Get Free Report) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, beating 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 business had revenue of $106.94 million for the quarter, compared to analyst estimates of $59.90 million. During the same period in the prior year, the business earned $0.98 earnings per share. As a group, equities research analysts predict that Lakeland Financial Co. will post 3.4 earnings per share for the current year.
Lakeland Financial Dividend Announcement
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The business also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, October 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.60%. Lakeland Financial's dividend payout ratio (DPR) is 49.87%.
Institutional Trading of Lakeland Financial
A number of large investors have recently made changes to their positions in the stock. Aptus Capital Advisors LLC raised its stake in Lakeland Financial by 15.6% in the 3rd quarter. Aptus Capital Advisors LLC now owns 75,418 shares of the financial services provider's stock valued at $4,911,000 after purchasing an additional 10,194 shares during the last quarter. Aigen Investment Management LP purchased a new stake in shares of Lakeland Financial during the third quarter worth about $222,000. GSA Capital Partners LLP raised its holdings in Lakeland Financial by 215.2% in the 3rd quarter. GSA Capital Partners LLP now owns 15,649 shares of the financial services provider's stock valued at $1,019,000 after acquiring an additional 10,685 shares during the last quarter. Rosenthal Henry Capital Advisors Inc. increased its stake in Lakeland Financial by 2.3% in the third quarter. Rosenthal Henry Capital Advisors Inc. now owns 45,955 shares of the financial services provider's stock valued at $2,993,000 after purchasing an additional 1,025 shares during the last quarter. Finally, US Bancorp DE lifted its position in Lakeland Financial by 72.2% during the third quarter. US Bancorp DE now owns 2,123 shares of the financial services provider's stock worth $138,000 after buying an additional 890 shares during the period. Institutional investors and hedge funds own 81.15% of the company's stock.
Analyst Upgrades and Downgrades
Separately, Keefe, Bruyette & Woods increased their price objective 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.
Check Out Our Latest Research Report on Lakeland Financial
About Lakeland Financial
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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.
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