Lakeland Financial Corporation (NASDAQ:LKFN) SVP Sells $20,100.00 in Stock

Key Points

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Lakeland Financial Corporation (NASDAQ:LKFN - Get Free Report) SVP Kyra E. Clark sold 300 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $67.00, for a total value of $20,100.00. Following the completion of the sale, the senior vice president directly owned 9,614 shares of the company's stock, valued at approximately $644,138. The trade was a 3.03% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Lakeland Financial Stock Up 0.4%

NASDAQ:LKFN traded up $0.23 on Monday, hitting $61.83. The stock had a trading volume of 12,357 shares, compared to its average volume of 173,642. The business's fifty day moving average is $62.34 and its 200 day moving average is $61.74. The company has a market cap of $1.58 billion, a PE ratio of 16.85 and a beta of 0.63. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.01. Lakeland Financial Corporation has a 52 week low of $50.00 and a 52 week high of $78.61.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last announced its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.11. Lakeland Financial had a return on equity of 13.57% and a net margin of 22.55%. The business had revenue of $63.36 million during the quarter, compared to the consensus estimate of $67.02 million. During the same quarter in the prior year, the company posted $0.87 earnings per share. On average, equities research analysts expect that Lakeland Financial Corporation will post 3.7 EPS for the current fiscal year.

Lakeland Financial Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Investors of record on Friday, July 25th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, July 25th. Lakeland Financial's dividend payout ratio (DPR) is presently 54.50%.

Institutional Trading of Lakeland Financial

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Lakeland Financial by 5.4% during the fourth quarter. Vanguard Group Inc. now owns 1,940,356 shares of the financial services provider's stock valued at $133,419,000 after acquiring an additional 100,001 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Lakeland Financial by 5.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 999,033 shares of the financial services provider's stock valued at $59,383,000 after acquiring an additional 52,753 shares during the last quarter. Silvercrest Asset Management Group LLC increased its position in Lakeland Financial by 5.7% in the fourth quarter. Silvercrest Asset Management Group LLC now owns 956,565 shares of the financial services provider's stock worth $65,773,000 after buying an additional 51,624 shares during the last quarter. Dimensional Fund Advisors LP increased its position in Lakeland Financial by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 807,525 shares of the financial services provider's stock worth $55,526,000 after buying an additional 6,307 shares during the last quarter. Finally, Northern Trust Corp increased its position in Lakeland Financial by 2.3% in the first quarter. Northern Trust Corp now owns 476,997 shares of the financial services provider's stock worth $28,353,000 after buying an additional 10,728 shares during the last quarter. 81.15% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LKFN has been the topic of several research analyst reports. Hovde Group upgraded Lakeland Financial from a "market perform" rating to an "outperform" rating and set a $72.00 target price on the stock in a research report on Tuesday, May 6th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $68.00 price target (up previously from $65.00) on shares of Lakeland Financial in a report on Monday, July 28th.

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.