Bradley Toothaker Sells 5,685 Shares of Lakeland Financial (NASDAQ:LKFN) Stock

Lakeland Financial Corporation (NASDAQ:LKFN) Director Bradley Toothaker sold 5,685 shares of Lakeland Financial stock in a transaction on Monday, February 23rd. The shares were sold at an average price of $58.36, for a total transaction of $331,776.60. Following the completion of the transaction, the director owned 20,178 shares in the company, valued at approximately $1,177,588.08. This represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Lakeland Financial Stock Performance

Shares of LKFN traded down $0.89 during mid-day trading on Tuesday, hitting $57.78. 45,513 shares of the company’s stock were exchanged, compared to its average volume of 169,621. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. Lakeland Financial Corporation has a fifty-two week low of $50.00 and a fifty-two week high of $69.40. The business’s 50 day moving average is $59.54 and its two-hundred day moving average is $61.08. The firm has a market capitalization of $1.47 billion, a P/E ratio of 14.44 and a beta of 0.75.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Monday, January 26th. The financial services provider reported $1.16 EPS for the quarter, beating the consensus estimate of $1.05 by $0.11. Lakeland Financial had a return on equity of 14.19% and a net margin of 24.51%.The firm had revenue of $69.80 million during the quarter, compared to the consensus estimate of $69.45 million. During the same period in the prior year, the business earned $0.94 EPS. On average, equities analysts expect that Lakeland Financial Corporation will post 3.7 earnings per share for the current year.

Lakeland Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Sunday, January 25th were issued a dividend of $0.52 per share. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.50. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. The ex-dividend date of this dividend was Friday, January 23rd. Lakeland Financial’s dividend payout ratio is 51.87%.

Institutional Investors Weigh In On Lakeland Financial

Institutional investors and hedge funds have recently modified their holdings of the company. Parkside Financial Bank & Trust boosted its position in Lakeland Financial by 248.0% during the second quarter. Parkside Financial Bank & Trust now owns 442 shares of the financial services provider’s stock worth $27,000 after purchasing an additional 315 shares in the last quarter. Osaic Holdings Inc. raised its stake in shares of Lakeland Financial by 186.0% during the 2nd quarter. Osaic Holdings Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after buying an additional 305 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in shares of Lakeland Financial by 1,212.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock worth $39,000 after buying an additional 582 shares in the last quarter. Global Retirement Partners LLC grew its stake in Lakeland Financial by 118.9% in the 4th quarter. Global Retirement Partners LLC now owns 996 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 541 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in Lakeland Financial by 80.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock valued at $107,000 after acquiring an additional 747 shares in the last quarter. Institutional investors and hedge funds own 81.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $68.00 target price (down previously from $74.00) on shares of Lakeland Financial in a report on Tuesday, October 28th. Wall Street Zen raised Lakeland Financial from a “sell” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Lakeland Financial in a research note on Thursday, January 22nd. Stephens set a $66.00 price target on Lakeland Financial in a report on Tuesday, January 27th. Finally, Keefe, Bruyette & Woods dropped their price objective on Lakeland Financial from $68.00 to $66.00 and set a “market perform” rating on the stock in a report on Tuesday, October 28th. One research analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $68.00.

Lakeland Financial Company Profile

Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.

Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.