Lakeland Financial Co. (NASDAQ:LKFN) Director M Scott Welch purchased 25,000 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was bought at an average cost of $45.64 per share, with a total value of $1,141,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Lakeland Financial Co. (NASDAQ LKFN) traded down $0.04 during trading on Wednesday, hitting $46.41. The stock had a trading volume of 25,485 shares, compared to its average volume of 115,524. The stock has a market capitalization of $1,162.45, a PE ratio of 20.74, a PEG ratio of 1.57 and a beta of 0.86. Lakeland Financial Co. has a 1-year low of $39.68 and a 1-year high of $52.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.95 and a quick ratio of 0.95.
Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.61 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.61. The business had revenue of $44.85 million during the quarter, compared to analysts’ expectations of $44.64 million. Lakeland Financial had a return on equity of 13.67% and a net margin of 28.42%. equities analysts forecast that Lakeland Financial Co. will post 2.96 EPS for the current fiscal year.
A number of analysts have recently commented on the company. Zacks Investment Research upgraded Lakeland Financial from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Saturday, January 13th. BidaskClub cut Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $50.00 price objective on shares of Lakeland Financial in a research report on Friday, December 22nd. Finally, ValuEngine upgraded Lakeland Financial from a “hold” rating to a “buy” rating in a research report on Thursday, November 30th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $52.00.
Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC acquired a new position in Lakeland Financial during the third quarter worth $208,000. Dynamic Technology Lab Private Ltd acquired a new position in Lakeland Financial during the second quarter worth $234,000. Prudential Financial Inc. boosted its stake in Lakeland Financial by 4.4% during the second quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock worth $252,000 after buying an additional 230 shares during the last quarter. Legal & General Group Plc boosted its stake in Lakeland Financial by 2.7% during the second quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock worth $272,000 after buying an additional 156 shares during the last quarter. Finally, Bedel Financial Consulting Inc. acquired a new position in Lakeland Financial during the fourth quarter worth $313,000. Hedge funds and other institutional investors own 70.48% of the company’s stock.
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About Lakeland Financial
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.
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