Lakeland Financial Corp. (LKFN) Sets New 52-Week High at $49.96
Shares of Lakeland Financial Corp. (NASDAQ:LKFN) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $49.96 and last traded at $49.55, with a volume of 20,003 shares traded. The stock had previously closed at $49.63.
A number of brokerages have recently commented on LKFN. Zacks Investment Research lowered shares of Lakeland Financial Corp. from a “hold” rating to a “sell” rating in a research report on Saturday, April 16th. Stephens lowered shares of Lakeland Financial Corp. from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 13th. Five research analysts have rated the stock with a hold rating, Lakeland Financial Corp. presently has a consensus rating of “Hold” and an average target price of $46.00.
The company has a market cap of $823.49 million and a price-to-earnings ratio of 17.60. The company has a 50-day moving average price of $47.68 and a 200 day moving average price of $45.50.
Lakeland Financial Corp. (NASDAQ:LKFN) last announced its quarterly earnings data on Monday, April 25th. The financial services provider reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.03. On average, equities research analysts anticipate that Lakeland Financial Corp. will post $2.92 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Investors of record on Monday, July 25th will be paid a dividend of $0.28 per share. The ex-dividend date is Thursday, July 21st. This represents a $1.12 annualized dividend and a yield of 2.26%.
In other Lakeland Financial Corp. news, Director Charles E. Niemier acquired 612 shares of the company’s stock in a transaction that occurred on Thursday, May 5th. The stock was bought at an average price of $47.33 per share, with a total value of $28,965.96. Following the purchase, the director now owns 95,228 shares in the company, valued at $4,507,141.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
A hedge fund recently raised its stake in Lakeland Financial Corp. stock. Victory Capital Management Inc. raised its stake in shares of Lakeland Financial Corp. (NASDAQ:LKFN) by 7.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 610,335 shares of the financial services provider’s stock after buying an additional 43,050 shares during the period. Victory Capital Management Inc. owned approximately 3.69% of Lakeland Financial Corp. worth $28,454,000 as of its most recent filing with the SEC.
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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