Lakeland Financial Corp. (NASDAQ:lkfn) announced a quarterly dividend on Wednesday, October 12th. Shareholders of record on Tuesday, October 25th will be paid a dividend of 0.19 per share by the financial services provider on Monday, November 7th. This represents a $0.76 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, October 21st.
Shares of Lakeland Financial Corp. (NASDAQ:LKFN) opened at 35.28 on Thursday. The stock has a market capitalization of $878.26 million, a P/E ratio of 18.25 and a beta of 0.82. The firm has a 50 day moving average of $35.56 and a 200-day moving average of $33.03. Lakeland Financial Corp. has a 12 month low of $26.53 and a 12 month high of $37.74.
Lakeland Financial Corp. (NASDAQ:LKFN) last announced its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.76 earnings per share for the quarter, beating 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%. Analysts forecast that Lakeland Financial Corp. will post $2.00 earnings per share for the current year.
A number of research analysts have weighed in on the stock. Keefe, Bruyette & Woods lifted their price target on shares of Lakeland Financial Corp. from $45.00 to $48.00 and gave the company a “market perform” rating in a research report on Wednesday, July 27th. Zacks Investment Research cut shares of Lakeland Financial Corp. from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, DA Davidson assumed coverage on shares of Lakeland Financial Corp. in a research report on Thursday, July 21st. They set a “neutral” rating on the stock. Six analysts have rated the stock with a hold rating, The stock currently has an average rating of “Hold” and an average target price of $39.33.
In other news, Director Emily E. Pichon sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $35.55, for a total transaction of $35,550.00. Following the transaction, the director now directly owns 12,875 shares of the company’s stock, valued at $457,706.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles E. Niemier bought 554 shares of Lakeland Financial Corp. stock in a transaction dated Friday, August 5th. The shares were purchased at an average cost of $52.99 per share, for a total transaction of $29,356.46. Following the completion of the transaction, the director now owns 144,361 shares of the company’s stock, valued at approximately $7,649,689.39. The disclosure for this purchase can be found here. Insiders own 4.90% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. BlackRock Inc. boosted its position in 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 during the last quarter. Citadel Advisors LLC bought a new stake in shares of Lakeland Financial Corp. during the second quarter worth about $304,000. BlackRock Advisors LLC raised its stake in shares of Lakeland Financial Corp. by 2.4% in the second quarter. BlackRock Advisors LLC now owns 8,197 shares of the financial services provider’s stock worth $385,000 after buying an additional 193 shares during the period. Parametric Portfolio Associates LLC raised its stake in shares of Lakeland Financial Corp. by 13.6% in the second quarter. Parametric Portfolio Associates LLC now owns 11,831 shares of the financial services provider’s stock worth $556,000 after buying an additional 1,415 shares during the period. Finally, Ativo Capital Management LLC raised its stake in shares of Lakeland Financial Corp. by 68.9% in the second quarter. Ativo Capital Management LLC now owns 17,888 shares of the financial services provider’s stock worth $841,000 after buying an additional 7,299 shares during the period. 44.53% of the stock is currently owned by institutional investors and hedge funds.
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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