Kristin Pruitt Sells 1,200 Shares of Lakeland Financial Co. (LKFN) Stock
Lakeland Financial Co. (NASDAQ:LKFN) insider Kristin Pruitt sold 1,200 shares of Lakeland Financial stock in a transaction that occurred on Friday, March 2nd. The shares were sold at an average price of $46.00, for a total value of $55,200.00. Following the sale, the insider now directly owns 7,900 shares in the company, valued at approximately $363,400. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Kristin Pruitt also recently made the following trade(s):
- On Friday, February 16th, Kristin Pruitt sold 600 shares of Lakeland Financial stock. The shares were sold at an average price of $48.21, for a total value of $28,926.00.
Lakeland Financial Co. (NASDAQ LKFN) traded up $0.66 during trading hours on Friday, reaching $46.29. The company’s stock had a trading volume of 115,912 shares, compared to its average volume of 92,434. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07. Lakeland Financial Co. has a 1-year low of $39.68 and a 1-year high of $52.43. The company has a market cap of $1,170.49, a P/E ratio of 20.67, a price-to-earnings-growth ratio of 1.57 and a beta of 0.90.
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Thursday, January 25th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 1.90%. The ex-dividend date of this dividend was Wednesday, January 24th. Lakeland Financial’s payout ratio is 39.29%.
A number of large investors have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB bought a new stake in Lakeland Financial in the 4th quarter worth approximately $258,000. Segall Bryant & Hamill LLC increased its stake in Lakeland Financial by 89.4% in the 4th quarter. Segall Bryant & Hamill LLC now owns 377,646 shares of the financial services provider’s stock worth $18,312,000 after acquiring an additional 178,286 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in Lakeland Financial in the 4th quarter worth approximately $592,000. Raymond James & Associates increased its stake in Lakeland Financial by 301.5% in the 4th quarter. Raymond James & Associates now owns 16,724 shares of the financial services provider’s stock worth $811,000 after acquiring an additional 12,559 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Lakeland Financial by 3.1% in the 4th quarter. Geode Capital Management LLC now owns 230,676 shares of the financial services provider’s stock worth $11,185,000 after acquiring an additional 6,947 shares during the last quarter. 69.73% of the stock is currently owned by institutional investors and hedge funds.
LKFN has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued a “hold” rating and set a $50.00 target price on shares of Lakeland Financial in a research note on Friday, December 22nd. Zacks Investment Research downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Friday, January 12th. BidaskClub downgraded Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Finally, ValuEngine downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $52.00.
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Lakeland Financial Company Profile
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.
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