Lakeland Financial Co. (NASDAQ:LKFN) EVP Michael E. Gavin sold 399 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $47.03, for a total value of $18,764.97. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of NASDAQ LKFN traded down $0.21 during midday trading on Tuesday, reaching $46.85. 879 shares of the company were exchanged, compared to its average volume of 59,433. The stock has a market cap of $1.21 billion, a P/E ratio of 14.89 and a beta of 0.94. Lakeland Financial Co. has a 1 year low of $37.79 and a 1 year high of $49.20. The stock has a fifty day simple moving average of $46.33 and a 200 day simple moving average of $45.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.05.
Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Friday, October 25th. The financial services provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.05. The company had revenue of $50.31 million for the quarter, compared to the consensus estimate of $48.43 million. Lakeland Financial had a return on equity of 15.57% and a net margin of 33.08%. As a group, analysts forecast that Lakeland Financial Co. will post 3.27 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were given a $0.30 dividend. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.20 dividend on an annualized basis and a yield of 2.56%. Lakeland Financial’s dividend payout ratio (DPR) is 38.34%.
A number of analysts recently issued reports on the company. Zacks Investment Research raised Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. BidaskClub upgraded Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th. Finally, ValuEngine raised Lakeland Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th.
Institutional investors have recently made changes to their positions in the business. Rhumbline Advisers raised its holdings in Lakeland Financial by 0.8% in the 3rd quarter. Rhumbline Advisers now owns 50,879 shares of the financial services provider’s stock valued at $2,238,000 after acquiring an additional 411 shares during the last quarter. California State Teachers Retirement System increased its stake in Lakeland Financial by 1.2% in the third quarter. California State Teachers Retirement System now owns 38,401 shares of the financial services provider’s stock valued at $1,689,000 after purchasing an additional 459 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Lakeland Financial by 30.6% during the second quarter. Public Employees Retirement System of Ohio now owns 2,444 shares of the financial services provider’s stock worth $114,000 after buying an additional 573 shares during the period. CWM LLC lifted its position in Lakeland Financial by 3,133.3% during the third quarter. CWM LLC now owns 679 shares of the financial services provider’s stock worth $30,000 after buying an additional 658 shares during the period. Finally, Advisor Group Inc. boosted its stake in Lakeland Financial by 101.3% in the 2nd quarter. Advisor Group Inc. now owns 1,600 shares of the financial services provider’s stock worth $75,000 after buying an additional 805 shares during the last quarter. Institutional investors own 76.38% 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. 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.
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