Key Points
- M. Scott Welch bought a total of 25,000 Lakeland Financial shares between Feb. 27 and Mar. 12 (10,000 on Feb. 27 at $57.95, 5,000 on Mar. 9 at $55.45 and 10,000 on Mar. 12 at $56.23), spending roughly $1.42 million and increasing his direct stake to 212,006 shares (a 4.95% position increase).
- Lakeland Financial recently beat quarterly expectations with $1.07 EPS vs. $1.05 consensus and reported solid profitability metrics (ROE 14.19%, net margin 24.51%), with analysts projecting about 3.7 EPS for the year and a consensus price target near $68.00.
- The bank raised its quarterly dividend to $0.52 (annualized $2.08), implying a ~3.7% yield and a payout ratio of about 51.9%, indicating continued shareholder distributions alongside insider buying.
Lakeland Financial Corporation (NASDAQ:LKFN - Get Free Report) Director M Scott Welch purchased 10,000 shares of the stock in a transaction dated Thursday, March 12th. The shares were purchased at an average price of $56.23 per share, with a total value of $562,300.00. Following the transaction, the director directly owned 212,006 shares of the company's stock, valued at approximately $11,921,097.38. The trade was a 4.95% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.
M Scott Welch also recently made the following trade(s):
- On Monday, March 9th, M Scott Welch purchased 5,000 shares of Lakeland Financial stock. The stock was purchased at an average price of $55.45 per share, for a total transaction of $277,250.00.
- On Friday, February 27th, M Scott Welch purchased 10,000 shares of Lakeland Financial stock. The stock was acquired at an average cost of $57.95 per share, with a total value of $579,500.00.
Lakeland Financial Price Performance
Shares of NASDAQ LKFN traded down $0.05 during midday trading on Friday, reaching $56.53. 62,634 shares of the company traded hands, compared to its average volume of 173,386. The company has a market cap of $1.43 billion, a price-to-earnings ratio of 14.10 and a beta of 0.73. The stock has a 50-day moving average price of $59.28 and a 200 day moving average price of $60.63. Lakeland Financial Corporation has a 52 week low of $50.00 and a 52 week high of $69.40.
Lakeland Financial (NASDAQ:LKFN - Get Free Report) last released its earnings results on Monday, January 26th. The financial services provider reported $1.07 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.02. 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 firm posted $0.94 earnings per share. As a group, analysts expect that Lakeland Financial Corporation will post 3.7 EPS 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 given a $0.52 dividend. This is a positive change from Lakeland Financial's previous quarterly dividend of $0.50. The ex-dividend date was Friday, January 23rd. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.7%. Lakeland Financial's dividend payout ratio is 51.87%.
Analyst Ratings Changes
LKFN has been the subject of a number of analyst reports. Stephens set a $66.00 price objective on shares of Lakeland Financial in a research note on Tuesday, January 27th. Hovde Group lowered Lakeland Financial from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 7th. Wall Street Zen raised Lakeland Financial from a "sell" rating to a "hold" rating in a research report on Sunday, March 8th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Lakeland Financial in a report on Thursday, January 22nd. One equities 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, the company has an average rating of "Hold" and a consensus price target of $68.00.
View Our Latest Research Report on Lakeland Financial
Institutional Trading of Lakeland Financial
A number of institutional investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its stake in Lakeland Financial by 248.0% in the second quarter. Parkside Financial Bank & Trust now owns 442 shares of the financial services provider's stock valued at $27,000 after purchasing an additional 315 shares in the last quarter. Osaic Holdings Inc. boosted its position in shares of Lakeland Financial by 186.0% in the second quarter. Osaic Holdings Inc. now owns 469 shares of the financial services provider's stock valued at $29,000 after acquiring an additional 305 shares during the period. EverSource Wealth Advisors LLC grew its position in 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 purchasing an additional 582 shares during the last quarter. Global Retirement Partners LLC raised its holdings 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 in the last quarter. Finally, GAMMA Investing LLC lifted its position in Lakeland Financial by 80.9% in the third quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider's stock worth $107,000 after purchasing an additional 747 shares during the period. Institutional investors and hedge funds own 81.15% of the company's stock.
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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