According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
A number of other equities research analysts have also issued reports on LKFN. Keefe, Bruyette & Woods cut their target price on shares of Lakeland Financial Corp. from $48.00 to $32.00 and set a market perform rating on the stock in a research note on Tuesday, August 9th. DA Davidson assumed coverage on shares of Lakeland Financial Corp. in a research note on Thursday, July 21st. They issued a neutral rating on the stock. Six investment analysts have rated the stock with a hold rating, Lakeland Financial Corp. presently has an average rating of Hold and a consensus target price of $39.33.
Shares of Lakeland Financial Corp. (NASDAQ:LKFN) opened at 35.28 on Wednesday. Lakeland Financial Corp. has a 12 month low of $26.53 and a 12 month high of $37.74. The firm has a market cap of $878.26 million, a P/E ratio of 18.25 and a beta of 0.82. The company has a 50-day moving average of $35.56 and a 200-day moving average of $33.03.
Lakeland Financial Corp. (NASDAQ:LKFN) last issued its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.76 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.05. Lakeland Financial Corp. had a net margin of 30.35% and a return on equity of 12.19%. Equities analysts forecast that Lakeland Financial Corp. will post $2.00 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Tuesday, October 25th will be paid a $0.19 dividend. The ex-dividend date of this dividend is Friday, October 21st. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.15%. Lakeland Financial Corp.’s dividend payout ratio (DPR) is presently 38.66%.
In other news, insider Kevin L. Deardorff sold 4,263 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $35.24, for a total value of $150,228.12. Following the sale, the insider now owns 43,324 shares in the company, valued at approximately $1,526,737.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Charles E. Niemier bought 554 shares of the business’s stock in a transaction dated Friday, August 5th. The stock was bought at an average price of $52.99 per share, for a total transaction of $29,356.46. Following the purchase, the director now owns 144,361 shares in the company, valued at approximately $7,649,689.39. The disclosure for this purchase can be found here. 4.90% of the stock is currently owned by insiders.
Large investors have recently modified their holdings of the stock. Royal Bank of Canada increased its stake in shares of Lakeland Financial Corp. by 2,657.0% in the second quarter. Royal Bank of Canada now owns 2,564 shares of the financial services provider’s stock worth $121,000 after buying an additional 2,471 shares in the last quarter. BlackRock Inc. increased its stake in shares of Lakeland Financial Corp. by 748.4% in the second quarter. BlackRock Inc. now owns 5,455 shares of the financial services provider’s stock worth $257,000 after buying an additional 4,812 shares in the last quarter. Teacher Retirement System of Texas increased its stake in shares of Lakeland Financial Corp. by 5.4% in the second quarter. Teacher Retirement System of Texas now owns 5,579 shares of the financial services provider’s stock worth $262,000 after buying an additional 287 shares in the last quarter. Citadel Advisors LLC acquired a new stake in shares of Lakeland Financial Corp. during the second quarter worth $304,000. Finally, UBS Asset Management Americas Inc. increased its stake in shares of Lakeland Financial Corp. by 6.1% in the second quarter. UBS Asset Management Americas Inc. now owns 6,984 shares of the financial services provider’s stock worth $328,000 after buying an additional 404 shares in the last quarter. Institutional investors and hedge funds own 44.53% of the company’s stock.
Lakeland Financial Corp. Company Profile
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.
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