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.

Analysts Set New Price Targets

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

Lakeland Financial Stock Up 0.8 %

NASDAQ:LKFN traded up $0.62 during trading on Wednesday, hitting $77.34. 112,008 shares of the stock traded hands, compared to its average volume of 148,446. The company has a market capitalization of $1.96 billion, a P/E ratio of 20.30 and a beta of 0.77. The firm has a 50-day simple moving average of $69.70 and a 200-day simple moving average of $74.02. Lakeland Financial has a 12-month low of $62.44 and a 12-month high of $85.71.

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 the consensus estimate 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 quarter in the previous year, the firm posted $0.95 earnings per share. As a group, research analysts predict that Lakeland Financial will post 4 EPS for the current fiscal year.

Lakeland Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Monday, July 25th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, July 22nd. Lakeland Financial's payout ratio is 41.99%.

Insider Activity

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