Insider Selling: Lakeland Financial Co. (NASDAQ:LKFN) SVP Sells 550 Shares of Stock

Lakeland Financial Co. (NASDAQ:LKFN - Get Free Report) SVP Donald Robinson-Gay sold 550 shares of the company's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $66.25, for a total transaction of $36,437.50. Following the sale, the senior vice president now directly owns 4,974 shares of the company's stock, valued at $329,527.50. The trade was a 9.96 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Lakeland Financial Stock Performance

Shares of NASDAQ:LKFN traded up $0.61 during midday trading on Friday, hitting $66.41. The company's stock had a trading volume of 148,808 shares, compared to its average volume of 129,751. The business's 50 day simple moving average is $67.87 and its 200 day simple moving average is $67.99. The company has a market cap of $1.70 billion, a P/E ratio of 18.29 and a beta of 0.68. Lakeland Financial Co. has a 12-month low of $57.45 and a 12-month high of $78.61.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last announced its quarterly earnings data on Friday, January 24th. The financial services provider reported $0.94 EPS for the quarter, topping analysts' consensus estimates of $0.89 by $0.05. Lakeland Financial had a return on equity of 13.31% and a net margin of 21.74%. On average, sell-side analysts predict that Lakeland Financial Co. will post 3.7 earnings per share for the current fiscal year.

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Lakeland Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 5th. Shareholders of record on Saturday, January 25th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, January 24th. This is an increase from Lakeland Financial's previous quarterly dividend of $0.48. This represents a $2.00 dividend on an annualized basis and a yield of 3.01%. Lakeland Financial's payout ratio is 55.10%.

Wall Street Analysts Forecast Growth

Separately, Keefe, Bruyette & Woods reissued a "market perform" rating and issued a $74.00 price target (up from $73.00) on shares of Lakeland Financial in a research note on Monday, January 27th.

Hedge Funds Weigh In On Lakeland Financial

A number of institutional investors have recently bought and sold shares of LKFN. Snowden Capital Advisors LLC raised its position in Lakeland Financial by 10.2% in the fourth quarter. Snowden Capital Advisors LLC now owns 8,610 shares of the financial services provider's stock valued at $592,000 after purchasing an additional 796 shares during the period. Silvercrest Asset Management Group LLC raised its stake in shares of Lakeland Financial by 5.7% in the 4th quarter. Silvercrest Asset Management Group LLC now owns 956,565 shares of the financial services provider's stock valued at $65,773,000 after acquiring an additional 51,624 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Lakeland Financial in the 4th quarter valued at approximately $25,000. Point72 Asset Management L.P. raised its holdings in shares of Lakeland Financial by 53.5% in the 4th quarter. Point72 Asset Management L.P. now owns 4,689 shares of the financial services provider's stock valued at $322,000 after buying an additional 1,635 shares during the period. Finally, ProShare Advisors LLC raised its holdings in shares of Lakeland Financial by 44.3% in the 4th quarter. ProShare Advisors LLC now owns 7,509 shares of the financial services provider's stock valued at $516,000 after buying an additional 2,305 shares during the period. 81.15% of the stock is owned by hedge funds and other institutional investors.

Lakeland Financial Company Profile

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.