Lakeland Financial Corporation (NASDAQ:LKFN – Get Free Report) SVP Kyra Clark sold 250 shares of the company’s stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $63.22, for a total value of $15,805.00. Following the transaction, the senior vice president directly owned 11,396 shares in the company, valued at $720,455.12. This represents a 2.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Lakeland Financial Trading Up 0.1%
Shares of LKFN stock traded up $0.08 on Friday, hitting $62.65. 169,637 shares of the stock were exchanged, compared to its average volume of 188,717. The firm has a market capitalization of $1.56 billion, a PE ratio of 14.37 and a beta of 0.73. Lakeland Financial Corporation has a one year low of $54.36 and a one year high of $69.40. The firm’s 50 day moving average is $61.09 and its two-hundred day moving average is $59.93.
Lakeland Financial (NASDAQ:LKFN – Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $70.87 million for the quarter, compared to analysts’ expectations of $72.11 million. Lakeland Financial had a return on equity of 14.67% and a net margin of 26.04%.During the same period in the previous year, the business posted $1.04 EPS. On average, sell-side analysts expect that Lakeland Financial Corporation will post 4.37 earnings per share for the current year.
Lakeland Financial Announces Dividend
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in LKFN. Vanguard Group Inc. raised its position in shares of Lakeland Financial by 1.1% in the fourth quarter. Vanguard Group Inc. now owns 1,887,812 shares of the financial services provider’s stock worth $107,719,000 after buying an additional 19,967 shares in the last quarter. State Street Corp grew its position in Lakeland Financial by 4.4% during the second quarter. State Street Corp now owns 1,354,542 shares of the financial services provider’s stock worth $83,237,000 after buying an additional 57,252 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Lakeland Financial by 1.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,049,197 shares of the financial services provider’s stock worth $59,867,000 after buying an additional 15,610 shares in the last quarter. First Trust Advisors LP increased its stake in Lakeland Financial by 403.6% in the 2nd quarter. First Trust Advisors LP now owns 383,525 shares of the financial services provider’s stock worth $23,568,000 after acquiring an additional 307,371 shares during the last quarter. Finally, Bank of America Corp DE increased its stake in Lakeland Financial by 4.8% in the 1st quarter. Bank of America Corp DE now owns 321,410 shares of the financial services provider’s stock worth $18,443,000 after acquiring an additional 14,584 shares during the last quarter. Institutional investors own 81.15% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on LKFN. Wall Street Zen cut shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Hovde Group increased their price target on shares of Lakeland Financial from $63.00 to $66.00 and gave the stock a “market perform” rating in a report on Tuesday, April 28th. Finally, Weiss Ratings lowered shares of Lakeland Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $66.50.
Get Our Latest Stock Analysis on LKFN
About Lakeland Financial
Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.
Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.
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