Lakeland Financial Co. (NASDAQ:LKFN) CAO Brok A. Lahrman Sells 150 Shares

Lakeland Financial Co. (NASDAQ:LKFN) CAO Brok A. Lahrman sold 150 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $75.51, for a total transaction of $11,326.50. Following the transaction, the chief accounting officer now owns 1,589 shares of the company’s stock, valued at approximately $119,985.39. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Lakeland Financial Stock Up 12.2 %

Shares of LKFN traded up $8.14 during mid-day trading on Wednesday, reaching $74.67. The company’s stock had a trading volume of 295,431 shares, compared to its average volume of 113,857. The business has a fifty day moving average of $65.40 and a 200 day moving average of $63.57. The company has a market cap of $1.90 billion, a price-to-earnings ratio of 17.28 and a beta of 0.65. Lakeland Financial Co. has a 1 year low of $50.36 and a 1 year high of $78.26.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. The firm had revenue of $106.94 million for the quarter, compared to analyst estimates of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same quarter in the prior year, the business earned $0.98 EPS. On average, analysts predict that Lakeland Financial Co. will post 3.4 earnings per share for the current year.

Lakeland Financial Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a dividend of $0.48 per share. The ex-dividend date was Friday, October 25th. This represents a $1.92 annualized dividend and a dividend yield of 2.57%. Lakeland Financial’s dividend payout ratio is 49.87%.

Institutional Investors Weigh In On Lakeland Financial

Several large investors have recently made changes to their positions in LKFN. Raymond James & Associates lifted its stake in Lakeland Financial by 132.5% in the second quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock valued at $6,042,000 after acquiring an additional 55,975 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of Lakeland Financial by 686.8% in the 2nd quarter. Renaissance Technologies LLC now owns 57,051 shares of the financial services provider’s stock valued at $3,510,000 after purchasing an additional 49,800 shares during the last quarter. Squarepoint Ops LLC bought a new stake in Lakeland Financial in the second quarter worth $1,352,000. Aptus Capital Advisors LLC increased its position in Lakeland Financial by 24.8% during the second quarter. Aptus Capital Advisors LLC now owns 65,224 shares of the financial services provider’s stock worth $4,013,000 after buying an additional 12,975 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Lakeland Financial by 5.8% during the second 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 in the last quarter. Institutional investors own 81.15% of the company’s stock.

Analysts Set New Price Targets

Separately, Keefe, Bruyette & Woods raised their price objective on shares of Lakeland Financial from $64.00 to $65.00 and gave the company a “market perform” rating in a research report on Monday, July 29th.

About Lakeland Financial

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.