Lakeland Financial Corp. (LKFN) Sees Unusually-High Trading Volume
Shares of Lakeland Financial Corp. (NASDAQ:LKFN) saw an uptick in trading volume on Friday . 106,182 shares changed hands during trading, an increase of 52% from the previous session’s volume of 70,064 shares.The stock last traded at $35.95 and had previously closed at $35.74.
Several research firms have issued reports on LKFN. Stephens lowered shares of Lakeland Financial Corp. from an “overweight” rating to an “equal weight” rating in a report on Monday, June 13th. Keefe, Bruyette & Woods lowered their price target on shares of Lakeland Financial Corp. from $48.00 to $32.00 and set a “market perform” rating for the company in a report on Tuesday, August 9th. 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 equities research analysts have rated the stock with a hold rating, The company currently has a consensus rating of “Hold” and an average target price of $39.50.
The company has a market capitalization of $896.93 million and a P/E ratio of 18.64. The company has a 50 day moving average of $34.70 and a 200 day moving average of $31.80.
Lakeland Financial Corp. (NASDAQ:LKFN) last issued its quarterly earnings data on Monday, July 25th. The financial services provider reported $0.76 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.71 by $0.05. On average, analysts expect that Lakeland Financial Corp. will post $2.00 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Monday, July 25th were issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, July 21st.
In other news, insider Kevin L. Deardorff sold 4,263 shares of the business’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $35.24, for a total transaction of $150,228.12. Following the completion of the transaction, the insider now owns 43,324 shares of the company’s stock, valued at $1,526,737.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles E. Niemier acquired 554 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were acquired at an average cost of $52.99 per share, with a total value of $29,356.46. Following the acquisition, the director now directly owns 144,361 shares of the company’s stock, valued at approximately $7,649,689.39. The disclosure for this purchase 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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