News articles about Lakeland Financial (NASDAQ:LKFN) have been trending positive on Wednesday, according to Alpha One. The research firm, a subsidiary of Accern, scores the sentiment of news coverage by monitoring more than twenty million blog and news sources in real-time. Alpha One ranks coverage of companies on a scale of -1 to 1, with scores nearest to one being the most favorable. Lakeland Financial earned a media sentiment score of 0.31 on Alpha One’s scale. Alpha One also assigned media coverage about the financial services provider an impact score of 100 out of 100, indicating that recent news coverage is extremely likely to have an impact on the company’s share price in the next several days.
Shares of Lakeland Financial (NASDAQ:LKFN) opened at 42.55 on Wednesday. The stock’s 50 day moving average is $44.36 and its 200 day moving average is $44.61. Lakeland Financial has a 52-week low of $29.64 and a 52-week high of $48.88. The stock has a market cap of $1.06 billion, a price-to-earnings ratio of 19.88 and a beta of 0.77.
Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. Lakeland Financial had a net margin of 30.31% and a return on equity of 12.47%. The firm had revenue of $40.32 million for the quarter, compared to the consensus estimate of $40.29 million. On average, equities analysts expect that Lakeland Financial will post $2.27 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 5th. Investors of record on Tuesday, April 25th were given a dividend of $0.22 per share. The ex-dividend date was Friday, April 21st. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.19. This represents a $0.88 dividend on an annualized basis and a yield of 2.07%. Lakeland Financial’s payout ratio is presently 37.01%.
A number of research analysts recently weighed in on LKFN shares. DA Davidson raised shares of Lakeland Financial from a “neutral” rating to a “buy” rating and set a $49.00 price target on the stock in a research note on Thursday, May 18th. Zacks Investment Research lowered shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Lakeland Financial and gave the stock a “hold” rating in a research note on Tuesday, April 18th.
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In other Lakeland Financial news, EVP Michael E. Gavin sold 2,500 shares of Lakeland Financial stock in a transaction that occurred on Monday, May 22nd. The shares were sold at an average price of $42.93, for a total value of $107,325.00. Following the completion of the sale, the executive vice president now directly owns 2,018 shares in the company, valued at $86,632.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Michael E. Gavin sold 3,000 shares of Lakeland Financial stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $45.94, for a total transaction of $137,820.00. Following the completion of the sale, the executive vice president now owns 3,400 shares of the company’s stock, valued at $156,196. The disclosure for this sale can be found here. Insiders have sold 6,100 shares of company stock worth $270,711 over the last ninety days. 4.90% of the stock is currently owned by insiders.
About Lakeland Financial
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.
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