Lakeland Financial Co. (NASDAQ:LKFN) insider Kevin L. Deardorff sold 5,350 shares of the stock in a transaction that occurred on Wednesday, May 9th. The stock was sold at an average price of $49.00, for a total value of $262,150.00. Following the completion of the transaction, the insider now owns 42,015 shares in the company, valued at approximately $2,058,735. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Lakeland Financial opened at $48.68 on Friday, Marketbeat.com reports. Lakeland Financial Co. has a 52 week low of $48.56 and a 52 week high of $48.76. The company has a market capitalization of $1.23 billion, a P/E ratio of 19.19, a PEG ratio of 1.64 and a beta of 0.86. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.97 and a current ratio of 0.95.
Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.71 EPS for the quarter, beating the consensus estimate of $0.70 by $0.01. Lakeland Financial had a return on equity of 14.09% and a net margin of 28.94%. The company had revenue of $46.10 million for the quarter, compared to the consensus estimate of $45.57 million. sell-side analysts anticipate that Lakeland Financial Co. will post 2.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, May 7th. Shareholders of record on Wednesday, April 25th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.14%. The ex-dividend date was Tuesday, April 24th. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.22. Lakeland Financial’s dividend payout ratio (DPR) is 43.51%.
A number of hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. grew its holdings in Lakeland Financial by 46.2% during the first quarter. JPMorgan Chase & Co. now owns 106,666 shares of the financial services provider’s stock valued at $4,931,000 after purchasing an additional 33,711 shares during the last quarter. Natixis Advisors L.P. grew its holdings in Lakeland Financial by 9.1% during the first quarter. Natixis Advisors L.P. now owns 75,832 shares of the financial services provider’s stock valued at $3,505,000 after purchasing an additional 6,295 shares during the last quarter. Matarin Capital Management LLC acquired a new position in Lakeland Financial during the first quarter valued at approximately $568,000. Vaughan Nelson Investment Management L.P. grew its holdings in Lakeland Financial by 3.6% during the first quarter. Vaughan Nelson Investment Management L.P. now owns 878,934 shares of the financial services provider’s stock valued at $40,634,000 after purchasing an additional 30,687 shares during the last quarter. Finally, Cetera Investment Advisers acquired a new position in Lakeland Financial during the first quarter valued at approximately $799,000. Institutional investors own 71.06% of the company’s stock.
LKFN has been the topic of a number of research reports. Zacks Investment Research upgraded Lakeland Financial from a “hold” rating to a “buy” rating and set a $57.00 price objective on the stock in a report on Saturday, January 13th. BidaskClub downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a report on Friday, April 20th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $50.67.
About Lakeland Financial
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.
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