Lakeland Financial Corp. (LKFN) Reaches New 52-Week High at $49.96
Lakeland Financial Corp. (NASDAQ:LKFN) shares hit a new 52-week high during trading on Monday . The company traded as high as $49.96 and last traded at $49.55, with a volume of 20,003 shares changing hands. The stock had previously closed at $49.63.
A number of research analysts recently commented on LKFN shares. Zacks Investment Research lowered shares of Lakeland Financial Corp. from a “hold” rating to a “sell” rating in a research note on Friday, March 25th. Stephens lowered shares of Lakeland Financial Corp. from an “overweight” rating to an “equal weight” rating in a research note on Monday, June 13th. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus target price of $46.00.
The firm has a market capitalization of $822.66 million and a PE ratio of 17.58. The stock’s 50 day moving average price is $47.74 and its 200-day moving average price is $45.51.
Lakeland Financial Corp. (NASDAQ:LKFN) last released its quarterly earnings data on Monday, April 25th. The financial services provider reported $0.73 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.03. On average, analysts expect that Lakeland Financial Corp. will post $2.92 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Monday, July 25th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date is Thursday, July 21st.
In other Lakeland Financial Corp. news, Director Charles E. Niemier acquired 612 shares of the company’s stock in a transaction on Thursday, May 5th. The shares were purchased at an average cost of $47.33 per share, with a total value of $28,965.96. Following the completion of the purchase, the director now owns 95,228 shares of the company’s stock, valued at $4,507,141.24. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink.
A hedge fund recently raised its stake in Lakeland Financial Corp. stock. Victory Capital Management Inc. boosted its position in shares of Lakeland Financial Corp. (NASDAQ:LKFN) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 3.69% of Lakeland Financial Corp. worth $28,454,000 as of its most recent SEC filing.
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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