Kyra E. Clark Sells 300 Shares of Lakeland Financial Corporation (NASDAQ:LKFN) Stock

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

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

Lakeland Financial Stock Down 2.2%

NASDAQ LKFN traded down $1.46 during trading on Thursday, reaching $63.95. The company's stock had a trading volume of 36,683 shares, compared to its average volume of 173,593. Lakeland Financial Corporation has a 1-year low of $50.00 and a 1-year high of $78.61. The stock has a market capitalization of $1.63 billion, a PE ratio of 17.42 and a beta of 0.60. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.01. The business has a 50-day moving average price of $62.20 and a 200-day moving average price of $61.90.

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

Lakeland Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, August 5th. Shareholders of record on Friday, July 25th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 3.13%. The ex-dividend date of this dividend is Friday, July 25th. Lakeland Financial's dividend payout ratio (DPR) is presently 54.50%.

Wall Street Analyst Weigh In

Several brokerages have commented on LKFN. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $68.00 target price (up from $65.00) on shares of Lakeland Financial in a report on Monday. Hovde Group raised Lakeland Financial from a "market perform" rating to an "outperform" rating and set a $72.00 price target on the stock in a research report on Tuesday, May 6th.

Institutional Investors Weigh In On Lakeland Financial

Several institutional investors and hedge funds have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in Lakeland Financial during the 4th quarter worth about $25,000. Quarry LP bought a new position in shares of Lakeland Financial in the 1st quarter valued at about $33,000. CWM LLC boosted its stake in shares of Lakeland Financial by 40.5% in the 1st quarter. CWM LLC now owns 631 shares of the financial services provider's stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Sterling Capital Management LLC boosted its stake in shares of Lakeland Financial by 809.9% in the 4th quarter. Sterling Capital Management LLC now owns 737 shares of the financial services provider's stock valued at $51,000 after purchasing an additional 656 shares during the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Lakeland Financial by 60.3% in the 1st quarter. GAMMA Investing LLC now owns 1,085 shares of the financial services provider's stock valued at $64,000 after purchasing an additional 408 shares during the last quarter. Institutional investors own 81.15% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.