The stock of Lakeland Financial Corporation (NASDAQ:LKFN) last traded at $68.43, down -0.38% from the previous session.
Data from the available sources indicates that Lakeland Financial Corporation (NASDAQ:LKFN) is covered by 4 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $78.00 and a low of $70.00, we find $78.00. Given the previous closing price of $68.69, this indicates a potential upside of 13.55 percent. LKFN stock price is now -8.44% away from the 50-day moving average and -7.69% away from the 200-day moving average. The market capitalization of the company currently stands at $1.72B.
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In total, 4 analysts have assigned it a hold rating, and 0 have given it a buy rating. Brokers who have rated the stock have averaged $75.33 as their price target over the next twelve months.
, while ‘FIG Partners’ rates the stock as ‘Market Perform’.
In other news, Augsburger Blake, Director sold 4,000 shares of the company’s stock on Nov 01. The stock was sold for $329,231 at an average price of $82.31. Upon completion of the transaction, the Director now directly owns 14,313 shares in the company, valued at $0.98 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Oct 28, SVP, Chief Accounting Officer Lahrman Brok A sold 312 shares of the business’s stock. A total of $25,593 was realized by selling the stock at an average price of $82.03. This leaves the insider owning 588 shares of the company worth $40236.84. Insiders disposed of 142,403 shares of company stock worth roughly $9.74 million over the past 1 year. A total of 1.00% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in LKFN stock. A new stake in Lakeland Financial Corporation shares was purchased by STATE OF NEW JERSEY COMMON PENSION FUND D during the first quarter worth $2,165,000. HSBC HOLDINGS PLC invested $1,530,000 in shares of LKFN during the first quarter. In the first quarter, KFG WEALTH MANAGEMENT, LLC acquired a new stake in Lakeland Financial Corporation valued at approximately $895,000. AMALGAMATED FINANCIAL CORP. acquired a new stake in LKFN for approximately $774,000. MARYLAND STATE RETIREMENT & PENSION SYSTEM purchased a new stake in LKFN valued at around $717,000 in the second quarter. In total, there are 297 active investors with 81.90% ownership of the company’s stock.
With an opening price of $69.39 on Thursday morning, Lakeland Financial Corporation (NASDAQ: LKFN) set off the trading day. During the past 12 months, Lakeland Financial Corporation has had a low of $64.05 and a high of $83.57. The fifty day moving average price for LKFN is $74.57 and a two-hundred day moving average price translates $74.11 for the stock.
The latest earnings results from Lakeland Financial Corporation (NASDAQ: LKFN) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $1.11, beating analysts’ expectations of $1.03 by 0.08. This compares to $0.94 EPS in the same period last year. The net profit margin was 48.00% and return on equity was 17.10% for LKFN. The company reported revenue of $62.56 million for the quarter, compared to $49.3 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 26.91 percent. For the current quarter, analysts expect LKFN to generate $65.35M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 02/06/2023. Investors who held shares on 01/25/2023 were paid a $0.46 dividend. On an annualized basis, this represents a $1.84 dividend and a 2.69% percent yield. There was an ex-dividend date of 01/24/2023 for this dividend. In terms of dividend payout ratio, LKFN is presently at 28.50%.
Lakeland Financial Corporation(LKFN) Company Profile
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. The company also offers retail and merchant credit card services; corporate treasury management, wealth advisory, and trust services; retail brokerage services, including various financial and investment products, such as annuities and life insurance; and mobile business banking and on-line treasury management services. It serves commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and health care industries. As of December 31, 2021, the company operated 51 offices in fifteen counties, including 45 offices in northern Indiana and six offices in central Indiana. Lakeland Financial Corporation was founded in 1872 and is headquartered in Warsaw, Indiana.
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