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 the company’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $62.03, for a total value of $31,015.00. Following the transaction, the senior vice president now directly owns 7,596 shares in the company, valued at approximately $471,179.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Lakeland Financial Stock Performance

NASDAQ:LKFN opened at $61.33 on Wednesday. The business’s fifty day moving average is $62.42 and its 200 day moving average is $61.33. The firm has a market cap of $1.56 billion, a price-to-earnings ratio of 16.94 and a beta of 0.69. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. Lakeland Financial Co. has a 52-week low of $43.05 and a 52-week high of $73.22.

Lakeland Financial Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Thursday, April 25th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 3.13%. The ex-dividend date of this dividend was Wednesday, April 24th. Lakeland Financial’s dividend payout ratio is presently 53.04%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Lakeland Financial

A number of large investors have recently modified their holdings of the company. Texas Permanent School Fund Corp lifted its stake in Lakeland Financial by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 22,257 shares of the financial services provider’s stock worth $1,476,000 after purchasing an additional 287 shares in the last quarter. Choreo LLC purchased a new stake in shares of Lakeland Financial in the first quarter worth $783,000. Sippican Capital Advisors bought a new stake in Lakeland Financial during the first quarter valued at $223,000. BNP Paribas Financial Markets grew its position in Lakeland Financial by 82.3% during the first quarter. BNP Paribas Financial Markets now owns 12,344 shares of the financial services provider’s stock worth $819,000 after buying an additional 5,571 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in Lakeland Financial by 72.2% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,810 shares of the financial services provider’s stock worth $1,290,000 after acquiring an additional 8,304 shares during the last quarter. 81.15% of the stock is currently owned by institutional investors.

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.