Lakeland Financial Co. (NASDAQ:LKFN) EVP Eric H. Ottinger sold 2,000 shares of the company’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $49.02, for a total value of $98,040.00. Following the completion of the sale, the executive vice president now owns 25,000 shares in the company, valued at approximately $1,225,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
LKFN opened at $49.21 on Thursday. The company has a debt-to-equity ratio of 0.05, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a fifty day moving average price of $47.33 and a 200 day moving average price of $45.19. Lakeland Financial Co. has a 1 year low of $37.79 and a 1 year high of $49.56. The stock has a market cap of $1.24 billion, a P/E ratio of 15.72 and a beta of 0.94.
Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.83 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.05. Lakeland Financial had a net margin of 33.08% and a return on equity of 15.57%. The company had revenue of $50.31 million for the quarter, compared to analyst estimates of $48.43 million. Equities analysts expect that Lakeland Financial Co. will post 3.27 EPS for the current year.
Institutional investors have recently modified their holdings of the business. CWM LLC boosted its stake in shares of Lakeland Financial by 3,133.3% during the 3rd quarter. CWM LLC now owns 679 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 658 shares in the last quarter. Advisor Group Inc. grew its position in shares of Lakeland Financial by 101.3% during the 2nd quarter. Advisor Group Inc. now owns 1,600 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 805 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of Lakeland Financial by 30.6% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,444 shares of the financial services provider’s stock valued at $114,000 after purchasing an additional 573 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Lakeland Financial by 144.7% in the 2nd quarter. Bank of Montreal Can now owns 3,487 shares of the financial services provider’s stock valued at $164,000 after purchasing an additional 2,062 shares in the last quarter. Finally, Commonwealth Equity Services LLC purchased a new position in shares of Lakeland Financial in the 2nd quarter valued at about $200,000. Institutional investors and hedge funds own 76.38% of the company’s stock.
About Lakeland Financial
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.
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