Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) Director Robert E. Bartels, Jr. purchased 755 shares of the company in a trade that took place on Monday, June 13. The stock was purchased at an average price of $67.29 per share, for a total transaction of $50,803.95. Following the purchase, the administrator now owns 26,213 shares of the company, valued at $1,763,872.77. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.
LKFN lost $0.28 in Tuesday’s trading, hitting $66.78. 1,453 shares of the company have been traded, compared to its average volume of 102,430. The stock has a market capitalization of $1.69 billion, a price-earnings ratio of 17.84 and a beta of 0, 69. The company’s 50-day simple moving average is $72.43 and its two-hundred-day simple moving average is $76.36. Lakeland Financial Co. has a 12-month low of $56.06 and a 12-month high of $85.71. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt ratio of 0.12.
Lakeland Financial (NASDAQ:LKFN – Get Rating) last released its quarterly earnings data on Monday, April 25. The financial services provider reported EPS of $0.92 for the quarter, beating the consensus estimate of $0.88 by $0.04. Lakeland Financial had a return on equity of 14.41% and a net margin of 40.82%. The company posted revenue of $55.57 million for the quarter, versus $56.46 million expected by analysts. During the same period last year, the company posted earnings per share of $0.90. On average, stock analysts expect Lakeland Financial Co. to post EPS of 3.94 for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 5. Shareholders of record on Monday, April 25 received a dividend of $0.40 per share. The ex-dividend date was Friday, April 22. This represents an annualized dividend of $1.60 and a dividend yield of 2.40%. Lakeland Financial’s payout ratio is 42.55%.
Hedge funds have recently changed their stock holdings. State Street Corp increased its stake in Lakeland Financial by 27.4% in the first quarter. State Street Corp now owns 1,308,005 shares of the financial services provider valued at $95,484,000 after buying an additional 280,943 shares in the last quarter. Kayne Anderson Rudnick Investment Management LLC purchased a new stake in Lakeland Financial during the fourth quarter valued at $21,921,000. Vanguard Group Inc. increased its position in Lakeland Financial by 11.4% during the first quarter. Vanguard Group Inc. now owns 1,768,640 shares of the financial services provider valued at $129,111,000 after acquiring an additional 181,199 shares in the last quarter. Bank of New York Mellon Corp increased its position in Lakeland Financial by 73.9% in the third quarter. Bank of New York Mellon Corp now owns 321,703 shares of the financial services provider worth $22,918,000 after buying an additional 136,718 shares in the last quarter. Finally, BlackRock Inc. increased its stake in the shares of Lakeland Financial by 3.5% during the 1st quarter. BlackRock Inc. now owns 3,807,592 shares of the financial services provider valued at $277,953,000 after purchasing an additional 128,992 shares during the period. Institutional investors hold 80.34% of the company’s shares.
Separately, StockNews.com downgraded Lakeland Financial shares from a “hold” rating to a “sell” rating in a Monday, May 23 research rating.
Lakeland Financial Company Profile (Get a rating)
Lakeland Financial Corporation operates as a bank holding company for Lake City Bank which provides various banking products and services. The company accepts various deposit products, such as interest-free deposits, interest-bearing checks, savings, money market, NOW and demand deposits. Its lending products include commercial and industrial loans, commercial and multi-family residential real estate, agribusiness and agriculture, 1-4 family consumer mortgages and other consumer loans.
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