Key Points
- Director M. Scott Welch bought 10,000 shares on Feb. 27 at $57.95 each for $579,500, increasing his stake to 49,000 shares (a 25.64% rise) according to the SEC filing.
- Company results and dividend: Lakeland reported $1.07 EPS vs. $1.05 expected and $69.8M revenue, and raised its quarterly dividend to $0.52 (annualized $2.08) for a 3.6% yield and ~51.9% payout ratio.
- Market context and analyst view: Shares opened at $58.09 (down 3.2%), LKFN has a $1.47B market cap and a 12‑month range of $50.00–$69.40, with mixed analyst coverage averaging a "Hold" rating and a $68 target.
Lakeland Financial Corporation (NASDAQ:LKFN - Get Free Report) Director M Scott Welch purchased 10,000 shares of the stock in a transaction on Friday, February 27th. The stock was acquired at an average cost of $57.95 per share, for a total transaction of $579,500.00. Following the completion of the acquisition, the director owned 49,000 shares of the company's stock, valued at $2,839,550. The trade was a 25.64% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Lakeland Financial Stock Down 3.2%
Shares of LKFN stock opened at $58.09 on Friday. Lakeland Financial Corporation has a twelve month low of $50.00 and a twelve month high of $69.40. The stock has a market cap of $1.47 billion, a P/E ratio of 14.49 and a beta of 0.75. The stock has a 50 day moving average of $59.47 and a 200 day moving average of $61.02. 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 (NASDAQ:LKFN - Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The financial services provider reported $1.07 EPS for the quarter, topping analysts' consensus estimates of $1.05 by $0.02. Lakeland Financial had a net margin of 24.51% and a return on equity of 14.19%. The business had revenue of $69.80 million for the quarter, compared to analysts' expectations of $69.45 million. During the same quarter last year, the company earned $0.94 EPS. As a group, sell-side analysts expect that Lakeland Financial Corporation will post 3.7 EPS for the current year.
Lakeland Financial Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Investors of record on Sunday, January 25th were paid a $0.52 dividend. The ex-dividend date was Friday, January 23rd. This represents a $2.08 annualized dividend and a dividend yield of 3.6%. This is a boost from Lakeland Financial's previous quarterly dividend of $0.50. Lakeland Financial's dividend payout ratio (DPR) is presently 51.87%.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on LKFN shares. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lakeland Financial in a research note on Thursday, January 22nd. Stephens set a $66.00 target price on shares of Lakeland Financial in a research report on Tuesday, January 27th. Wall Street Zen downgraded shares of Lakeland Financial from a "hold" rating to a "sell" rating in a research note on Saturday. Finally, Hovde Group cut shares of Lakeland Financial from an "outperform" rating to a "market perform" rating in a research note on Wednesday, January 7th. One equities research analyst has rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average price target of $68.00.
Check Out Our Latest Stock Analysis on LKFN
Institutional Trading of Lakeland Financial
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Smartleaf Asset Management LLC lifted its position in Lakeland Financial by 1.9% in the third quarter. Smartleaf Asset Management LLC now owns 10,154 shares of the financial services provider's stock valued at $660,000 after buying an additional 194 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of Lakeland Financial by 1.1% in the 4th quarter. WINTON GROUP Ltd now owns 20,743 shares of the financial services provider's stock valued at $1,184,000 after acquiring an additional 221 shares during the period. Amalgamated Bank raised its stake in shares of Lakeland Financial by 3.4% in the 3rd quarter. Amalgamated Bank now owns 7,523 shares of the financial services provider's stock valued at $483,000 after acquiring an additional 245 shares during the period. Personal CFO Solutions LLC lifted its holdings in shares of Lakeland Financial by 6.4% in the 3rd quarter. Personal CFO Solutions LLC now owns 4,201 shares of the financial services provider's stock worth $270,000 after acquiring an additional 254 shares during the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH increased its holdings in Lakeland Financial by 6.4% in the 3rd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 4,973 shares of the financial services provider's stock valued at $319,000 after purchasing an additional 297 shares during the last quarter. 81.15% of the stock is owned by institutional investors and hedge funds.
Lakeland Financial Company Profile
(
Get Free Report)
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.
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