Kyra Clark Sells 250 Shares of Lakeland Financial (NASDAQ:LKFN) Stock

Lakeland Financial Corporation (NASDAQ:LKFN) SVP Kyra Clark sold 250 shares of the business’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $63.22, for a total value of $15,805.00. Following the completion of the transaction, the senior vice president owned 11,396 shares in the company, valued at approximately $720,455.12. This trade represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Lakeland Financial Stock Performance

Shares of LKFN opened at $62.65 on Friday. The company has a market capitalization of $1.56 billion, a P/E ratio of 14.37 and a beta of 0.73. Lakeland Financial Corporation has a one year low of $54.36 and a one year high of $69.40. The stock has a 50-day moving average price of $61.14 and a 200 day moving average price of $59.95.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Monday, July 27th. The financial services provider reported $1.13 earnings per share for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Lakeland Financial had a return on equity of 14.67% and a net margin of 26.04%.The firm had revenue of $70.87 million during the quarter, compared to analyst estimates of $72.11 million. During the same quarter last year, the firm earned $1.04 EPS. As a group, equities research analysts forecast that Lakeland Financial Corporation will post 4.37 earnings per share for the current fiscal year.

Lakeland Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Saturday, July 25th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Friday, July 24th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. Lakeland Financial’s dividend payout ratio (DPR) is presently 47.71%.

Hedge Funds Weigh In On Lakeland Financial

Several institutional investors have recently made changes to their positions in the stock. Osaic Holdings Inc. lifted its holdings in shares of Lakeland Financial by 186.0% in the 2nd quarter. Osaic Holdings Inc. now owns 469 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 305 shares during the last quarter. EverSource Wealth Advisors LLC boosted its position in Lakeland Financial by 1,212.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 582 shares during the period. Rockefeller Capital Management L.P. grew its stake in Lakeland Financial by 40.5% during the 4th quarter. Rockefeller Capital Management L.P. now owns 729 shares of the financial services provider’s stock worth $42,000 after buying an additional 210 shares during the last quarter. Global Retirement Partners LLC grew its stake in Lakeland Financial by 118.9% during the 4th quarter. Global Retirement Partners LLC now owns 996 shares of the financial services provider’s stock worth $57,000 after buying an additional 541 shares during the last quarter. Finally, Summit Securities Group LLC bought a new position in Lakeland Financial during the 1st quarter worth $86,000. 81.15% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LKFN shares. Hovde Group lifted their price target on shares of Lakeland Financial from $63.00 to $66.00 and gave the stock a “market perform” rating in a research note on Tuesday, April 28th. Weiss Ratings lowered shares of Lakeland Financial from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Finally, Wall Street Zen raised shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $66.50.

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.