Lakeland Financial Corporation (NASDAQ:LKFN) insider Eric H. Ottinger sold 1,899 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $46.28, for a total value of $87,885.72. Following the completion of the sale, the insider now owns 21,500 shares in the company, valued at approximately $995,020. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Shares of Lakeland Financial Corporation (NASDAQ LKFN) traded up 0.59% during midday trading on Tuesday, reaching $46.31. The company’s stock had a trading volume of 72,483 shares. The firm has a market capitalization of $1.16 billion, a price-to-earnings ratio of 20.77 and a beta of 0.83. The firm’s 50 day moving average is $45.92 and its 200 day moving average is $44.77. Lakeland Financial Corporation has a 52 week low of $33.98 and a 52 week high of $48.88.

Lakeland Financial Corporation (NASDAQ:LKFN) last announced its earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. Lakeland Financial Corporation had a return on equity of 13.21% and a net margin of 30.72%. The business had revenue of $42.61 million for the quarter, compared to analyst estimates of $41.86 million. Equities analysts forecast that Lakeland Financial Corporation will post $2.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Tuesday, July 25th were given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend was Friday, July 21st. Lakeland Financial Corporation’s payout ratio is 39.46%.

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Several research firms recently issued reports on LKFN. Zacks Investment Research downgraded Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 28th. BidaskClub downgraded Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. DA Davidson upgraded Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $43.00 price target on Lakeland Financial Corporation and gave the stock a “hold” rating in a report on Tuesday, April 18th.

A number of hedge funds have recently made changes to their positions in LKFN. Alps Advisors Inc. raised its stake in shares of Lakeland Financial Corporation by 0.3% in the second quarter. Alps Advisors Inc. now owns 10,751 shares of the financial services provider’s stock valued at $493,000 after buying an additional 28 shares in the last quarter. Comerica Bank raised its stake in shares of Lakeland Financial Corporation by 0.5% in the first quarter. Comerica Bank now owns 12,100 shares of the financial services provider’s stock valued at $567,000 after buying an additional 62 shares in the last quarter. Prudential Financial Inc. raised its stake in shares of Lakeland Financial Corporation by 1.5% in the first quarter. Prudential Financial Inc. now owns 5,272 shares of the financial services provider’s stock valued at $228,000 after buying an additional 80 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Lakeland Financial Corporation by 2.7% in the second quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock valued at $272,000 after buying an additional 156 shares in the last quarter. Finally, Ngam Advisors L.P. raised its stake in shares of Lakeland Financial Corporation by 0.3% in the first quarter. Ngam Advisors L.P. now owns 75,517 shares of the financial services provider’s stock valued at $3,257,000 after buying an additional 194 shares in the last quarter. 69.96% of the stock is owned by hedge funds and other institutional investors.

Lakeland Financial Corporation Company Profile

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.

Insider Buying and Selling by Quarter for Lakeland Financial Corporation (NASDAQ:LKFN)

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