Lakeland Financial Co. (LKFN) Director Emily E. Pichon Sells 500 Shares

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Lakeland Financial Co. (NASDAQ:LKFN) Director Emily E. Pichon sold 500 shares of the company’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $50.85, for a total value of $25,425.00. Following the completion of the transaction, the director now directly owns 15,363 shares in the company, valued at $781,208.55. The sale was disclosed in a filing with the SEC, which is available through this link.

Shares of LKFN stock traded up $0.27 on Friday, hitting $47.88. 120,895 shares of the company’s stock were exchanged, compared to its average volume of 42,169. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.42. The company has a market cap of $1.22 billion, a P/E ratio of 17.66, a P/E/G ratio of 1.57 and a beta of 0.76. Lakeland Financial Co. has a 12 month low of $43.94 and a 12 month high of $52.43.

Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $0.78 EPS for the quarter, beating the consensus estimate of $0.74 by $0.04. The firm had revenue of $47.23 million during the quarter, compared to the consensus estimate of $47.05 million. Lakeland Financial had a return on equity of 14.83% and a net margin of 29.95%. equities research analysts anticipate that Lakeland Financial Co. will post 3.06 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 21st. Shareholders of record on Tuesday, August 7th were given a $0.10 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $0.40 annualized dividend and a yield of 0.84%. Lakeland Financial’s dividend payout ratio is presently 16.74%.

Several hedge funds have recently modified their holdings of LKFN. Millennium Management LLC increased its stake in shares of Lakeland Financial by 244.8% in the first quarter. Millennium Management LLC now owns 326,463 shares of the financial services provider’s stock valued at $15,092,000 after buying an additional 231,781 shares during the period. BlackRock Inc. increased its stake in shares of Lakeland Financial by 12.2% in the first quarter. BlackRock Inc. now owns 1,899,704 shares of the financial services provider’s stock valued at $87,823,000 after buying an additional 206,682 shares during the period. Neuberger Berman Group LLC grew its stake in Lakeland Financial by 9.3% during the first quarter. Neuberger Berman Group LLC now owns 1,086,450 shares of the financial services provider’s stock worth $50,227,000 after purchasing an additional 92,780 shares during the period. Motley Fool Asset Management LLC acquired a new stake in Lakeland Financial during the first quarter worth approximately $2,774,000. Finally, Massachusetts Financial Services Co. MA grew its stake in Lakeland Financial by 21.7% during the first quarter. Massachusetts Financial Services Co. MA now owns 330,979 shares of the financial services provider’s stock worth $15,301,000 after purchasing an additional 59,037 shares during the period. 72.94% of the stock is owned by institutional investors.

Several analysts have recently issued reports on the company. Boenning Scattergood assumed coverage on Lakeland Financial in a report on Friday, June 8th. They set a “neutral” rating on the stock. BidaskClub raised Lakeland Financial from a “sell” rating to a “hold” rating in a report on Saturday, June 23rd. Zacks Investment Research raised Lakeland Financial from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Wednesday, June 27th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and set a $51.00 target price on shares of Lakeland Financial in a report on Thursday, July 26th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. Lakeland Financial has an average rating of “Hold” and a consensus target price of $53.50.

About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

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