Lakeland Financial Corporation (NASDAQ:LKFN) declared a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Stockholders of record on Wednesday, October 25th will be given a dividend of 0.22 per share by the financial services provider on Monday, November 6th. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, October 24th.

Shares of Lakeland Financial Corporation (NASDAQ:LKFN) traded down 1.39% on Thursday, reaching $48.27. 90,656 shares of the company traded hands. The company has a market capitalization of $1.21 billion, a PE ratio of 21.65 and a beta of 0.86. Lakeland Financial Corporation has a one year low of $33.98 and a one year high of $49.48. The firm has a 50-day moving average price of $45.58 and a 200 day moving average price of $44.99.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.05. Lakeland Financial Corporation had a net margin of 30.72% and a return on equity of 13.06%. The business had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Equities analysts forecast that Lakeland Financial Corporation will post $2.37 EPS for the current fiscal year.

LKFN has been the subject of several research reports. ValuEngine raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Zacks Investment Research downgraded shares of Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, September 23rd. Finally, BidaskClub downgraded shares of Lakeland Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. Lakeland Financial Corporation currently has a consensus rating of “Hold” and a consensus price target of $48.00.

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In other news, Director M Scott Welch acquired 5,557 shares of the business’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $41.83 per share, with a total value of $232,449.31. Following the acquisition, the director now directly owns 112,148 shares of the company’s stock, valued at $4,691,150.84. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Batty Jill A. De sold 800 shares of Lakeland Financial Corporation stock in a transaction on Tuesday, September 5th. The stock was sold at an average price of $43.31, for a total transaction of $34,648.00. Following the transaction, the insider now directly owns 8,132 shares in the company, valued at $352,196.92. The disclosure for this sale can be found here. Over the last ninety days, insiders have acquired 10,613 shares of company stock worth $447,131 and have sold 3,149 shares worth $142,334. 5.00% of the stock is owned by insiders.

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.

Dividend History for Lakeland Financial Corporation (NASDAQ:LKFN)

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