Lisa M. O'neill Sells 2,500 Shares of Lakeland Financial Corporation (NASDAQ:LKFN) Stock

Key Points

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Lakeland Financial Corporation (NASDAQ:LKFN - Get Free Report) CFO Lisa M. O'neill sold 2,500 shares of the company's stock in a transaction dated Tuesday, July 29th. The stock was sold at an average price of $66.72, for a total transaction of $166,800.00. Following the completion of the sale, the chief financial officer directly owned 34,366 shares of the company's stock, valued at approximately $2,292,899.52. This trade represents a 6.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Lakeland Financial Stock Performance

LKFN stock traded down $1.46 during midday trading on Thursday, hitting $63.95. 33,423 shares of the stock traded hands, compared to its average volume of 173,544. The stock's fifty day simple moving average is $62.20 and its 200-day simple moving average is $61.90. Lakeland Financial Corporation has a 1-year low of $50.00 and a 1-year high of $78.61. The firm has a market cap of $1.63 billion, a P/E ratio of 17.52 and a beta of 0.60. The company has a debt-to-equity ratio of 0.01, a current ratio of 0.89 and a quick ratio of 0.89.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last issued its quarterly earnings results on Friday, July 25th. The financial services provider reported $1.04 earnings per share for the quarter, topping 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 firm had revenue of $63.36 million during the quarter, compared to analysts' expectations of $67.02 million. During the same quarter in the prior year, the business earned $0.87 EPS. On average, analysts expect that Lakeland Financial Corporation will post 3.7 earnings per share for the current year.

Lakeland Financial Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 5th. Stockholders of record on Friday, July 25th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, July 25th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 3.13%. Lakeland Financial's payout ratio is 54.50%.

Institutional Investors Weigh In On Lakeland Financial

Institutional investors and hedge funds have recently made changes to their positions in the stock. American Century Companies Inc. increased its position in Lakeland Financial by 0.5% in the fourth quarter. American Century Companies Inc. now owns 126,892 shares of the financial services provider's stock worth $8,725,000 after buying an additional 586 shares during the last quarter. Sei Investments Co. boosted its position in shares of Lakeland Financial by 19.5% in the 4th quarter. Sei Investments Co. now owns 32,843 shares of the financial services provider's stock worth $2,258,000 after purchasing an additional 5,349 shares in the last quarter. KLP Kapitalforvaltning AS bought a new position in Lakeland Financial in the 4th quarter valued at approximately $378,000. LPL Financial LLC lifted its holdings in shares of Lakeland Financial by 6.5% during the 4th quarter. LPL Financial LLC now owns 65,825 shares of the financial services provider's stock valued at $4,526,000 after buying an additional 4,044 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Lakeland Financial by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 1,940,356 shares of the financial services provider's stock worth $133,419,000 after purchasing an additional 100,001 shares in the last quarter. Institutional investors and hedge funds own 81.15% of the company's stock.

Analyst Ratings Changes

LKFN has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods restated a "market perform" rating and set a $68.00 price objective (up previously from $65.00) on shares of Lakeland Financial in a research note on Monday. Hovde Group raised Lakeland Financial from a "market perform" rating to an "outperform" rating and set a $72.00 price objective on the stock in a report on Tuesday, May 6th.

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.

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