Insider Buying: Lakeland Financial Corporation (LKFN) Director Acquires $187,938.90 in Stock

Lakeland Financial Corporation (NASDAQ:LKFN) Director M Scott Welch purchased 4,443 shares of the company’s stock in a transaction on Wednesday, September 6th. The stock was acquired at an average price of $42.30 per share, with a total value of $187,938.90. Following the purchase, the director now owns 112,148 shares of the company’s stock, valued at $4,743,860.40. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

M Scott Welch also recently made the following trade(s):

  • On Thursday, September 7th, M Scott Welch purchased 5,557 shares of Lakeland Financial Corporation stock. The stock was acquired at an average price of $41.83 per share, with a total value of $232,449.31.

Lakeland Financial Corporation (NASDAQ:LKFN) opened at 42.20 on Friday. Lakeland Financial Corporation has a 1-year low of $33.98 and a 1-year high of $48.88. The firm has a 50 day moving average of $44.56 and a 200 day moving average of $44.66. The firm has a market cap of $1.06 billion, a P/E ratio of 18.92 and a beta of 0.84.

Lakeland Financial Corporation (NASDAQ:LKFN) last issued its earnings results on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Lakeland Financial Corporation had a net margin of 30.72% and a return on equity of 13.06%. The business had revenue of $42.61 million for the quarter, compared to the consensus estimate of $41.86 million. On average, equities research analysts expect that Lakeland Financial Corporation will post $2.37 EPS for the current year.

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Several equities analysts have commented on the stock. DA Davidson upgraded 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. BidaskClub upgraded shares of Lakeland Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Zacks Investment Research upgraded shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $49.00 price target for the company in a research note on Saturday, August 26th. Finally, ValuEngine upgraded shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $47.00.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new stake in Lakeland Financial Corporation during the 1st quarter valued at $102,000. BNP Paribas Arbitrage SA grew its holdings in Lakeland Financial Corporation by 1,811.5% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after purchasing an additional 2,989 shares in the last quarter. Motley Fool Wealth Management LLC acquired a new stake in Lakeland Financial Corporation during the 1st quarter valued at $225,000. Prudential Financial Inc. grew its holdings in Lakeland Financial Corporation by 1.5% during the 1st quarter. Prudential Financial Inc. now owns 5,272 shares of the financial services provider’s stock valued at $228,000 after purchasing an additional 80 shares in the last quarter. Finally, Airain ltd acquired a new stake in Lakeland Financial Corporation during the 2nd quarter valued at $229,000. 69.31% of the stock is owned by institutional investors and hedge funds.

About Lakeland Financial Corporation

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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