Lakeland Financial - LKFN Stock Forecast, Price & News

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans. The company also offers retail and merchant credit card services; corporate treasury management, wealth advisory, and trust services; retail brokerage services, including various financial and investment products, such as annuities and life insurance; and mobile business banking and on-line treasury management services. It serves commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and health care industries. As of December 31, 2021, the company operated 51 offices in fifteen counties, including 45 offices in northern Indiana and six offices in central Indiana. Lakeland Financial Corporation was founded in 1872 and is headquartered in Warsaw, Indiana.

Lakeland Financial Stock Up 0.4 %

NASDAQ:LKFN opened at $79.24 on Monday. Lakeland Financial has a 1-year low of $62.44 and a 1-year high of $85.71. The firm has a market capitalization of $2.01 billion, a price-to-earnings ratio of 20.80 and a beta of 0.77. The stock has a fifty day simple moving average of $70.00 and a 200 day simple moving average of $73.91.

Lakeland Financial (NASDAQ:LKFN - Get Rating) last released its quarterly earnings results on Monday, July 25th. The financial services provider reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.96 by $0.04. Lakeland Financial had a return on equity of 15.27% and a net margin of 40.50%. During the same period last year, the business posted $0.95 earnings per share. Equities analysts predict that Lakeland Financial will post 4 earnings per share for the current year.

Lakeland Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Monday, July 25th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $1.60 dividend on an annualized basis and a yield of 2.02%. Lakeland Financial's payout ratio is presently 41.99%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded Lakeland Financial from a "sell" rating to a "hold" rating in a research report on Tuesday, July 26th.

Insiders Place Their Bets

In other Lakeland Financial news, Director Robert E. Bartels, Jr. acquired 755 shares of the firm's stock in a transaction on Monday, June 13th. The stock was purchased at an average cost of $67.29 per share, for a total transaction of $50,803.95. Following the transaction, the director now owns 26,213 shares of the company's stock, valued at approximately $1,763,872.77. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other Lakeland Financial news, Director Robert E. Bartels, Jr. acquired 755 shares of the firm's stock in a transaction on Monday, June 13th. The stock was purchased at an average cost of $67.29 per share, for a total transaction of $50,803.95. Following the transaction, the director now owns 26,213 shares of the company's stock, valued at approximately $1,763,872.77. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Lisa M. O'neill sold 1,000 shares of the firm's stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $76.98, for a total value of $76,980.00. Following the sale, the chief financial officer now directly owns 25,420 shares of the company's stock, valued at $1,956,831.60. The disclosure for this sale can be found here. Corporate insiders own 4.00% of the company's stock.