Lakeland Financial Corp. (LKFN) Sees Large Volume Increase
Shares of Lakeland Financial Corp. (NASDAQ:LKFN) saw unusually-strong trading volume on Friday . Approximately 106,182 shares traded 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 equities research analysts have issued reports on LKFN shares. Keefe, Bruyette & Woods dropped their target price on shares of Lakeland Financial Corp. from $48.00 to $32.00 and set a “market perform” rating for the company in a research report on Tuesday, August 9th. DA Davidson started coverage on shares of Lakeland Financial Corp. in a research report on Thursday, July 21st. They set a “neutral” rating for the company. Finally, Stephens lowered shares of Lakeland Financial Corp. from an “overweight” rating to an “equal weight” rating in a research report on Monday, June 13th. Six equities research analysts have rated the stock with a hold rating, The company has an average rating of “Hold” and a consensus target price of $39.50.
The firm has a market capitalization of $896.93 million and a PE ratio of 18.64. The firm has a 50 day moving average price of $34.79 and a 200 day moving average price of $31.83.
Lakeland Financial Corp. (NASDAQ:LKFN) last released its quarterly earnings results on Monday, July 25th. The financial services provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.05. Equities research analysts predict that Lakeland Financial Corp. will post $2.00 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 5th. Stockholders of record on Monday, July 25th were given 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 Lakeland Financial Corp. news, Director Charles E. Niemier purchased 554 shares of Lakeland Financial Corp. stock in a transaction dated Friday, August 5th. The stock was purchased at an average price of $52.99 per share, with a total value of $29,356.46. Following the transaction, the director now directly owns 144,361 shares of the company’s stock, valued at $7,649,689.39. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kevin L. Deardorff sold 4,263 shares of the company’s stock in a transaction dated Friday, August 12th. The shares were sold at an average price of $35.24, for a total transaction of $150,228.12. Following the sale, the insider now directly owns 43,324 shares of the company’s stock, valued at approximately $1,526,737.76. 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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