Charles E. Niemier Buys 827 Shares of Lakeland Financial Corp. (LKFN) Stock
Lakeland Financial Corp. (NASDAQ:LKFN) Director Charles E. Niemier purchased 827 shares of Lakeland Financial Corp. stock in a transaction on Monday, November 7th. The stock was bought at an average cost of $36.30 per share, with a total value of $30,020.10. Following the transaction, the director now directly owns 145,308 shares of the company’s stock, valued at $5,274,680.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Lakeland Financial Corp. (NASDAQ:LKFN) opened at 38.69 on Thursday. Lakeland Financial Corp. has a 1-year low of $26.53 and a 1-year high of $38.90. The stock has a 50 day moving average price of $35.64 and a 200-day moving average price of $33.83. The company has a market capitalization of $964.27 million, a price-to-earnings ratio of 19.32 and a beta of 0.67.
Lakeland Financial Corp. (NASDAQ:LKFN) last released its earnings results on Tuesday, October 25th. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.03. Lakeland Financial Corp. had a return on equity of 12.52% and a net margin of 30.55%. Equities analysts predict that Lakeland Financial Corp. will post $2.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, November 7th. Shareholders of record on Tuesday, October 25th were issued a dividend of $0.19 per share. This represents a $0.76 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, October 21st. Lakeland Financial Corp.’s dividend payout ratio (DPR) is presently 37.81%.
A number of brokerages have weighed in on LKFN. Keefe, Bruyette & Woods reduced their price target on Lakeland Financial Corp. from $48.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, August 9th. Zacks Investment Research raised Lakeland Financial Corp. from a “hold” rating to a “buy” rating and set a $42.00 price target for the company in a research report on Thursday, October 27th. Finally, DA Davidson initiated coverage on Lakeland Financial Corp. in a research note on Thursday, July 21st. They issued a “neutral” rating on the stock. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. Lakeland Financial Corp. has a consensus rating of “Hold” and an average target price of $37.00.
A number of institutional investors have recently added to or reduced their stakes in LKFN. Kessler Investment Group LLC boosted its position in Lakeland Financial Corp. by 32.4% in the third quarter. Kessler Investment Group LLC now owns 2,936 shares of the financial services provider’s stock worth $104,000 after buying an additional 718 shares during the period. Royal Bank of Canada boosted its position in Lakeland Financial Corp. by 2,657.0% in the second quarter. Royal Bank of Canada now owns 2,564 shares of the financial services provider’s stock worth $121,000 after buying an additional 2,471 shares during the period. Great West Life Assurance Co. Can boosted its position in Lakeland Financial Corp. by 50.0% in the third quarter. Great West Life Assurance Co. Can now owns 3,900 shares of the financial services provider’s stock worth $138,000 after buying an additional 1,300 shares during the period. SG Americas Securities LLC purchased a new position in Lakeland Financial Corp. during the third quarter worth about $141,000. Finally, US Bancorp DE boosted its position in Lakeland Financial Corp. by 25.5% in the third quarter. US Bancorp DE now owns 5,874 shares of the financial services provider’s stock worth $208,000 after buying an additional 1,192 shares during the period. Hedge funds and other institutional investors own 46.64% of the company’s stock.
About Lakeland Financial Corp.
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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