Lakeland Financial Corp. (LKFN) Sees Large Volume Increase
Lakeland Financial Corp. (NASDAQ:LKFN) saw an uptick in trading volume on Thursday . 59,432 shares traded hands during trading, a decline of 13% from the previous session’s volume of 68,604 shares.The stock last traded at $35.49 and had previously closed at $35.28.
A number of research firms have recently issued reports on LKFN. Keefe, Bruyette & Woods upped their target price on shares of Lakeland Financial Corp. from $45.00 to $48.00 and gave the stock a “market perform” rating in a report on Wednesday, July 27th. Stephens lowered shares of Lakeland Financial Corp. from an “overweight” rating to an “equal weight” rating in a report on Monday, June 13th. Finally, DA Davidson began coverage on shares of Lakeland Financial Corp. in a report on Thursday, July 21st. They set a “neutral” rating for the company. Six research analysts have rated the stock with a hold rating, Lakeland Financial Corp. has an average rating of “Hold” and a consensus price target of $39.50.
The company’s 50-day moving average price is $34.23 and its 200-day moving average price is $31.57. The company has a market cap of $889.21 million and a P/E ratio of 18.48.
Lakeland Financial Corp. (NASDAQ:LKFN) last released its earnings results on Monday, July 25th. The financial services provider reported $0.76 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.05. Equities analysts forecast that Lakeland Financial Corp. will post $2.00 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Monday, July 25th were issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 3.14%. The ex-dividend date of this dividend was Thursday, July 21st.
In other Lakeland Financial Corp. news, Director Charles E. Niemier bought 554 shares of Lakeland Financial Corp. stock in a transaction on Friday, August 5th. The stock was bought at an average price of $52.99 per share, with a total value of $29,356.46. Following the completion of the acquisition, the director now owns 144,361 shares in the company, valued at $7,649,689.39. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Emily E. Pichon sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 23rd. The shares were sold at an average price of $35.55, for a total value of $35,550.00. Following the completion of the sale, the director now directly owns 12,875 shares of the company’s stock, valued at approximately $457,706.25. The disclosure for this sale can be found here.
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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