Lakeland Financial Corporation (NASDAQ:LKFN) Director M Scott Welch purchased 4,443 shares of Lakeland Financial Corporation stock in a transaction dated Wednesday, September 6th. The stock was bought at an average price of $42.30 per share, with a total value of $187,938.90. Following the acquisition, the director now directly owns 112,148 shares of the company’s stock, valued at $4,743,860.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Shares of Lakeland Financial Corporation (NASDAQ:LKFN) traded down 0.83% during mid-day trading on Thursday, hitting $41.97. 53,584 shares of the stock were exchanged. The stock’s 50 day moving average price is $44.77 and its 200-day moving average price is $44.70. The stock has a market capitalization of $1.05 billion, a P/E ratio of 18.82 and a beta of 0.84. Lakeland Financial Corporation has a 12-month low of $33.98 and a 12-month high of $48.88.

Lakeland Financial Corporation (NASDAQ:LKFN) last announced its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a net margin of 30.72% and a return on equity of 13.06%. On average, equities research analysts expect that Lakeland Financial Corporation will post $2.37 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in Lakeland Financial Corporation in the 1st quarter valued at $102,000. BNP Paribas Arbitrage SA grew its position in Lakeland Financial Corporation by 1,811.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 2,989 shares during the period. Motley Fool Wealth Management LLC acquired a new stake in Lakeland Financial Corporation in the 1st quarter valued at $225,000. Prudential Financial Inc. grew its position in Lakeland Financial Corporation by 1.5% in the 1st quarter. Prudential Financial Inc. now owns 5,272 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 80 shares during the period. Finally, Airain ltd acquired a new stake in Lakeland Financial Corporation in the 2nd quarter valued at $229,000. 69.31% of the stock is owned by institutional investors and hedge funds.

LKFN has been the subject of several research analyst reports. DA Davidson upgraded shares of Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a report on Thursday, May 18th. Zacks Investment Research upgraded shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Tuesday, June 27th. ValuEngine upgraded shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Lakeland Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. Lakeland Financial Corporation has an average rating of “Hold” and an average target price of $47.00.

About Lakeland Financial Corporation

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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