Lakeland Financial Co. (NASDAQ:LKFN) SVP Sells $31,015.00 in Stock

Lakeland Financial Co. (NASDAQ:LKFN) SVP Kyra E. Clark sold 500 shares of Lakeland Financial stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $62.03, for a total transaction of $31,015.00. Following the transaction, the senior vice president now owns 7,596 shares of the company’s stock, valued at approximately $471,179.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lakeland Financial Stock Up 0.4 %

Shares of Lakeland Financial stock opened at $61.60 on Thursday. The company has a fifty day moving average price of $62.41 and a 200 day moving average price of $61.33. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Lakeland Financial Co. has a twelve month low of $43.05 and a twelve month high of $73.22. The stock has a market cap of $1.57 billion, a price-to-earnings ratio of 17.02 and a beta of 0.69.

Lakeland Financial Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Thursday, April 25th were paid a dividend of $0.48 per share. The ex-dividend date was Wednesday, April 24th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.12%. Lakeland Financial’s dividend payout ratio is currently 53.04%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Raymond James raised their price target on Lakeland Financial from $60.00 to $78.00 and gave the stock an “outperform” rating in a research report on Friday, January 26th. Stephens increased their price target on Lakeland Financial from $67.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th.

Hedge Funds Weigh In On Lakeland Financial

A number of institutional investors have recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. increased its stake in shares of Lakeland Financial by 359.1% in the fourth quarter. SRS Capital Advisors Inc. now owns 629 shares of the financial services provider’s stock worth $41,000 after buying an additional 492 shares during the last quarter. GAMMA Investing LLC bought a new stake in shares of Lakeland Financial in the 4th quarter worth about $60,000. Nisa Investment Advisors LLC raised its stake in shares of Lakeland Financial by 10,016.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,214 shares of the financial services provider’s stock valued at $79,000 after purchasing an additional 1,202 shares in the last quarter. Everence Capital Management Inc. bought a new position in shares of Lakeland Financial during the fourth quarter worth about $201,000. Finally, Sippican Capital Advisors acquired a new position in Lakeland Financial in the first quarter worth about $223,000. Institutional investors and hedge funds own 81.15% 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 in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.