Lakeland Financial Co. (NASDAQ:LKFN) Director Robert E. Bartels, Jr. Purchases 282 Shares

Lakeland Financial Co. (NASDAQ:LKFNGet Rating) Director Robert E. Bartels, Jr. purchased 282 shares of the company’s stock in a transaction that occurred on Thursday, May 26th. The shares were purchased at an average price of $72.55 per share, for a total transaction of $20,459.10. Following the transaction, the director now owns 26,213 shares of the company’s stock, valued at approximately $1,901,753.15. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

LKFN opened at $73.33 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.12. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 19.50 and a beta of 0.69. Lakeland Financial Co. has a 52-week low of $56.06 and a 52-week high of $85.71. The firm’s fifty day simple moving average is $73.56 and its two-hundred day simple moving average is $76.63.

Lakeland Financial (NASDAQ:LKFNGet Rating) last posted its quarterly earnings data on Monday, April 25th. The financial services provider reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $55.57 million for the quarter, compared to the consensus estimate of $56.46 million. Lakeland Financial had a net margin of 40.82% and a return on equity of 14.41%. During the same period last year, the firm posted $0.90 earnings per share. On average, research analysts forecast that Lakeland Financial Co. will post 3.94 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Stockholders of record on Monday, April 25th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, April 22nd. Lakeland Financial’s dividend payout ratio is currently 42.55%.

Several analysts recently commented on the stock. StockNews.com lowered shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research report on Monday, May 23rd. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $83.00 price target on the stock in a research report on Thursday, April 28th.

Large investors have recently bought and sold shares of the company. Pinebridge Investments L.P. purchased a new position in shares of Lakeland Financial in the fourth quarter worth about $96,000. SG Americas Securities LLC lifted its stake in shares of Lakeland Financial by 29.9% in the first quarter. SG Americas Securities LLC now owns 2,593 shares of the financial services provider’s stock worth $189,000 after buying an additional 597 shares in the last quarter. Raymond James & Associates lifted its stake in shares of Lakeland Financial by 6.2% in the first quarter. Raymond James & Associates now owns 3,075 shares of the financial services provider’s stock worth $224,000 after buying an additional 179 shares in the last quarter. Mutual of America Capital Management LLC purchased a new position in shares of Lakeland Financial in the third quarter worth about $240,000. Finally, Gilman Hill Asset Management LLC purchased a new position in shares of Lakeland Financial in the fourth quarter worth about $261,000. 80.34% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Financial Company Profile (Get Rating)

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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