Lakeland Financial Co. (NASDAQ:LKFN) SVP Sells $52,336.00 in Stock

Lakeland Financial Co. (NASDAQ:LKFN) SVP James Rickard Donovan sold 800 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $65.42, for a total transaction of $52,336.00. Following the transaction, the senior vice president now owns 9,568 shares in the company, valued at $625,938.56. The sale was disclosed in a filing with the SEC, which is available through this link.

Lakeland Financial Stock Performance

Shares of NASDAQ LKFN opened at $67.69 on Thursday. The business has a 50-day simple moving average of $65.78 and a two-hundred day simple moving average of $63.07. The company has a market cap of $1.73 billion, a PE ratio of 18.70 and a beta of 0.66. Lakeland Financial Co. has a fifty-two week low of $44.47 and a fifty-two week high of $73.22.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Thursday, July 25th. The financial services provider reported $0.87 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.02. Lakeland Financial had a return on equity of 14.72% and a net margin of 23.70%. The business had revenue of $68.74 million for the quarter, compared to the consensus estimate of $60.70 million. During the same quarter in the previous year, the business earned $0.57 EPS. The company’s quarterly revenue was up 14.5% compared to the same quarter last year. On average, sell-side analysts predict that Lakeland Financial Co. will post 3.37 earnings per share for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, August 5th. Investors of record on Thursday, July 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Thursday, July 25th. This represents a $1.92 annualized dividend and a yield of 2.84%. Lakeland Financial’s dividend payout ratio (DPR) is presently 53.04%.

Analyst Ratings Changes

Separately, Keefe, Bruyette & Woods boosted their price objective on shares of Lakeland Financial from $64.00 to $65.00 and gave the stock a “market perform” rating in a research note on Monday, July 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Lakeland Financial presently has a consensus rating of “Hold” and a consensus price target of $71.00.

Institutional Trading of Lakeland Financial

Several institutional investors and hedge funds have recently bought and sold shares of LKFN. Vanguard Group Inc. increased its stake in shares of Lakeland Financial by 2.4% in the fourth quarter. Vanguard Group Inc. now owns 1,847,688 shares of the financial services provider’s stock worth $120,395,000 after acquiring an additional 42,862 shares during the period. Dimensional Fund Advisors LP grew its position in Lakeland Financial by 1.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 816,549 shares of the financial services provider’s stock worth $50,232,000 after purchasing an additional 11,118 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of Lakeland Financial by 5.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 263,434 shares of the financial services provider’s stock valued at $17,165,000 after buying an additional 12,486 shares during the last quarter. Envestnet Asset Management Inc. lifted its holdings in shares of Lakeland Financial by 5.8% in the 2nd quarter. Envestnet Asset Management Inc. now owns 233,836 shares of the financial services provider’s stock valued at $14,386,000 after buying an additional 12,846 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Lakeland Financial by 0.3% in the second quarter. Bank of New York Mellon Corp now owns 232,888 shares of the financial services provider’s stock worth $14,327,000 after buying an additional 684 shares during the last quarter. 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.