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 1.5 %

Shares of Lakeland Financial stock traded up $1.15 during trading on Tuesday, hitting $76.72. 100,864 shares of the company were exchanged, compared to its average volume of 148,688. The firm has a 50 day moving average price of $69.59 and a 200 day moving average price of $74.00. The stock has a market capitalization of $1.95 billion, a price-to-earnings ratio of 20.14 and a beta of 0.77. Lakeland Financial has a fifty-two week low of $62.44 and a fifty-two week high of $85.71.

Lakeland Financial (NASDAQ:LKFN - Get Rating) last released its quarterly earnings data on Monday, July 25th. The financial services provider reported $1.00 EPS for the quarter, topping 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 quarter in the prior year, the business posted $0.95 earnings per share. 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. Investors of record on Monday, July 25th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, July 22nd. This represents a $1.60 annualized dividend and a yield of 2.09%. Lakeland Financial's dividend payout ratio (DPR) is 41.99%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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