Lakeland Financial Co. (NASDAQ:LKFN – Get Free Report) SVP Jonathan P. Steiner acquired 3,000 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were bought at an average cost of $55.26 per share, for a total transaction of $165,780.00. Following the completion of the acquisition, the senior vice president now owns 9,369 shares of the company’s stock, valued at $517,730.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
Lakeland Financial Price Performance
Shares of NASDAQ LKFN opened at $56.21 on Friday. The firm has a 50-day simple moving average of $53.13 and a 200-day simple moving average of $57.51. The stock has a market capitalization of $1.43 billion, a price-to-earnings ratio of 15.48 and a beta of 0.71. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. Lakeland Financial Co. has a 52 week low of $43.05 and a 52 week high of $83.57.
Lakeland Financial (NASDAQ:LKFN – Get Free Report) last issued its earnings results on Friday, July 28th. The financial services provider reported $0.57 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.34). The business had revenue of $95.98 million during the quarter, compared to analyst estimates of $59.40 million. Lakeland Financial had a net margin of 27.14% and a return on equity of 16.37%. During the same quarter last year, the company earned $1.00 earnings per share. On average, equities analysts predict that Lakeland Financial Co. will post 3.39 earnings per share for the current fiscal year.
Lakeland Financial Dividend Announcement
Institutional Investors Weigh In On Lakeland Financial
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Nuveen Asset Management LLC increased its position in Lakeland Financial by 1.6% during the second quarter. Nuveen Asset Management LLC now owns 81,518 shares of the financial services provider’s stock worth $3,955,000 after purchasing an additional 1,259 shares during the last quarter. Wells Fargo & Company MN increased its position in Lakeland Financial by 11.3% during the second quarter. Wells Fargo & Company MN now owns 184,473 shares of the financial services provider’s stock worth $8,951,000 after purchasing an additional 18,679 shares during the last quarter. Natixis Advisors L.P. increased its position in Lakeland Financial by 13.8% during the second quarter. Natixis Advisors L.P. now owns 203,623 shares of the financial services provider’s stock worth $9,880,000 after purchasing an additional 24,682 shares during the last quarter. XTX Topco Ltd increased its position in Lakeland Financial by 6.9% during the second quarter. XTX Topco Ltd now owns 6,639 shares of the financial services provider’s stock worth $322,000 after purchasing an additional 428 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in Lakeland Financial by 5.1% during the second quarter. Goldman Sachs Group Inc. now owns 482,047 shares of the financial services provider’s stock worth $23,389,000 after purchasing an additional 23,527 shares during the last quarter. 80.67% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
LKFN has been the topic of several recent analyst reports. TheStreet downgraded shares of Lakeland Financial from a “b-” rating to a “c+” rating in a report on Monday, July 24th. StockNews.com raised shares of Lakeland Financial to a “sell” rating in a report on Monday, July 31st. Finally, Raymond James reduced their target price on shares of Lakeland Financial from $66.00 to $64.00 and set an “outperform” rating for the company in a research report on Monday, July 24th.
View Our Latest Stock Analysis on LKFN
About Lakeland Financial
Lakeland Financial Corp. is a bank holding company, which engages in the provision of banking products and services. It offers commercial and consumer banking, trust and wealth management, brokerage, and treasury management commercial services. The company was founded on February 8, 1983 and is headquartered in Warsaw, IN.
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