Lakeland Financial (NASDAQ:LKFN) Stock Passes Above 200 Day Moving Average - What's Next?

Lakeland Financial Co. (NASDAQ:LKFN - Get Free Report) shares passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $67.03 and traded as high as $68.76. Lakeland Financial shares last traded at $68.08, with a volume of 90,433 shares trading hands.

Lakeland Financial Stock Down 0.2 %

The stock has a 50-day simple moving average of $71.45 and a two-hundred day simple moving average of $67.03. The firm has a market cap of $1.74 billion, a PE ratio of 17.68 and a beta of 0.69.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last announced its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 earnings per share for the quarter, beating analysts' consensus estimates of $0.88 by $0.03. The company had revenue of $106.94 million for the quarter, compared to analysts' expectations of $59.90 million. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. During the same period last year, the firm posted $0.98 EPS. Research analysts expect that Lakeland Financial Co. will post 3.42 earnings per share for the current year.

Insider Transactions at Lakeland Financial

In other news, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $73.50, for a total value of $290,986.50. Following the transaction, the executive vice president now owns 32,475 shares in the company, valued at approximately $2,386,912.50. The trade was a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders sold 4,150 shares of company stock worth $305,327. 3.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Lakeland Financial

Institutional investors have recently bought and sold shares of the stock. Eagle Asset Management Inc. lifted its position in Lakeland Financial by 29.5% in the third quarter. Eagle Asset Management Inc. now owns 250,139 shares of the financial services provider's stock valued at $16,289,000 after purchasing an additional 56,928 shares during the last quarter. Renaissance Technologies LLC increased its stake in shares of Lakeland Financial by 686.8% in the second quarter. Renaissance Technologies LLC now owns 57,051 shares of the financial services provider's stock worth $3,510,000 after buying an additional 49,800 shares during the period. Barclays PLC raised its holdings in Lakeland Financial by 130.5% during the 3rd quarter. Barclays PLC now owns 50,960 shares of the financial services provider's stock valued at $3,320,000 after buying an additional 28,851 shares during the last quarter. State Street Corp boosted its position in Lakeland Financial by 2.2% during the 3rd quarter. State Street Corp now owns 1,276,929 shares of the financial services provider's stock valued at $83,154,000 after buying an additional 27,556 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Lakeland Financial by 3.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 902,968 shares of the financial services provider's stock worth $58,801,000 after acquiring an additional 27,214 shares during the last quarter. 81.15% of the stock is currently 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.