Key Points
- Lakeland Financial (NASDAQ:LKFN) EVP Eric Ottinger sold 2,136 shares on May 1 at an average of $61.49 for $131,342.64, reducing his ownership by 6.04% to 33,257 shares; the transaction was reported on an SEC Form 4.
- The company reported Q1 EPS of $1.04, beating estimates by $0.03 while revenue of $69.71M slightly missed consensus, and analysts forecast about 4.3 EPS for the year with an average target of $66.50 and a prevailing "Hold" consensus.
- Dividend and valuation: Lakeland declared a $0.52 quarterly dividend (annualized $2.08, 3.4% yield) payable May 5; the stock trades near $61 with a P/E of 14.37, market cap ≈ $1.53B, and a 52-week range of $54.36–$69.40.
Lakeland Financial Corporation (NASDAQ:LKFN - Get Free Report) EVP Eric Ottinger sold 2,136 shares of the stock in a transaction dated Friday, May 1st. The stock was sold at an average price of $61.49, for a total value of $131,342.64. Following the sale, the executive vice president directly owned 33,257 shares in the company, valued at $2,044,972.93. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Lakeland Financial Stock Performance
Shares of LKFN opened at $61.38 on Friday. The business's 50-day moving average is $58.53 and its two-hundred day moving average is $58.97. The company has a market capitalization of $1.53 billion, a P/E ratio of 14.37 and a beta of 0.75. Lakeland Financial Corporation has a fifty-two week low of $54.36 and a fifty-two week high of $69.40.
Lakeland Financial (NASDAQ:LKFN - Get Free Report) last announced its quarterly earnings results on Monday, April 27th. The financial services provider reported $1.04 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.03. The company had revenue of $69.71 million for the quarter, compared to the consensus estimate of $70.42 million. Lakeland Financial had a return on equity of 14.79% and a net margin of 25.81%.During the same period last year, the firm earned $0.78 EPS. Analysts forecast that Lakeland Financial Corporation will post 4.3 EPS for the current year.
Lakeland Financial Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Saturday, April 25th will be given a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, April 24th. Lakeland Financial's dividend payout ratio (DPR) is currently 48.71%.
Institutional Investors Weigh In On Lakeland Financial
A number of institutional investors have recently modified their holdings of LKFN. Osaic Holdings Inc. grew its position in shares of Lakeland Financial by 186.0% during the 2nd 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 shares of 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 acquiring an additional 582 shares during the period. Rockefeller Capital Management L.P. grew its position in shares of 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 valued at $42,000 after acquiring an additional 210 shares during the period. Global Retirement Partners LLC grew its position in shares of Lakeland Financial by 118.9% during 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 during the period. Finally, Summit Securities Group LLC acquired a new stake in shares of Lakeland Financial during the 1st quarter valued at about $86,000. 81.15% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on LKFN shares. Hovde Group increased their price target on Lakeland Financial from $63.00 to $66.00 and gave the stock a "market perform" rating in a research report on Tuesday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Lakeland Financial in a research report on Tuesday, April 21st. Wall Street Zen raised Lakeland Financial from a "sell" rating to a "hold" rating in a research report on Sunday, April 19th. Finally, Stephens set a $66.00 target price on Lakeland Financial in a research report on Tuesday, January 27th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Lakeland Financial presently has an average rating of "Hold" and an average target price of $66.50.
View Our Latest Stock Report on LKFN
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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