Lakeland Financial Corporation (LKFN) Insider Eric H. Ottinger Sells 1,899 Shares

Lakeland Financial Corporation (NASDAQ:LKFN) insider Eric H. Ottinger sold 1,899 shares of Lakeland Financial Corporation stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $46.28, for a total transaction of $87,885.72. Following the completion of the transaction, the insider now directly owns 21,500 shares of the company’s stock, valued at $995,020. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Shares of Lakeland Financial Corporation (LKFN) opened at 43.95 on Friday. Lakeland Financial Corporation has a 12-month low of $33.98 and a 12-month high of $48.88. The stock has a market capitalization of $1.10 billion, a P/E ratio of 19.71 and a beta of 0.83. The stock has a 50 day moving average of $45.68 and a 200 day moving average of $44.78.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The company had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. Equities research analysts anticipate that Lakeland Financial Corporation will post $2.37 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 7th. Shareholders of record on Tuesday, July 25th were issued a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date was Friday, July 21st. Lakeland Financial Corporation’s dividend payout ratio (DPR) is currently 39.46%.

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Hedge funds have recently added to or reduced their stakes in the stock. Highbridge Capital Management LLC purchased a new stake in shares of Lakeland Financial Corporation during the fourth quarter valued at $346,000. Schroder Investment Management Group raised its stake in shares of Lakeland Financial Corporation by 1.5% in the first quarter. Schroder Investment Management Group now owns 305,057 shares of the financial services provider’s stock valued at $13,203,000 after buying an additional 4,457 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lakeland Financial Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock valued at $43,992,000 after buying an additional 28,198 shares during the last quarter. John W. Rosenthal Capital Management Inc. raised its stake in shares of Lakeland Financial Corporation by 4.4% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 145,874 shares of the financial services provider’s stock valued at $6,290,000 after buying an additional 6,200 shares during the last quarter. Finally, Parametric Portfolio Associates LLC raised its stake in shares of Lakeland Financial Corporation by 4.2% in the first quarter. Parametric Portfolio Associates LLC now owns 20,562 shares of the financial services provider’s stock valued at $887,000 after buying an additional 836 shares during the last quarter. 70.76% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently commented on LKFN shares. DA Davidson raised shares of Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Thursday, May 18th. Zacks Investment Research raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a research note on Tuesday, June 27th. Finally, BidaskClub upgraded shares of Lakeland Financial Corporation from a “sell” rating to a “hold” rating in a report on Friday, June 9th.

Lakeland Financial Corporation Company Profile

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.

Insider Buying and Selling by Quarter for Lakeland Financial Corporation (NASDAQ:LKFN)

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