Eric H. Ottinger Sells 2,276 Shares of Lakeland Financial Co. (LKFN) Stock

Lakeland Financial Co. (NASDAQ:LKFN) insider Eric H. Ottinger sold 2,276 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.90, for a total transaction of $109,020.40. Following the transaction, the insider now owns 27,900 shares of the company’s stock, valued at approximately $1,336,410. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

NASDAQ LKFN opened at $48.50 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.39. Lakeland Financial Co. has a 52 week low of $37.79 and a 52 week high of $51.25. The company has a market cap of $1.23 billion, a price-to-earnings ratio of 15.45, a PEG ratio of 1.46 and a beta of 0.93.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.80 by $0.03. Lakeland Financial had a net margin of 33.63% and a return on equity of 16.24%. The company had revenue of $49.70 million during the quarter, compared to analysts’ expectations of $48.48 million. As a group, research analysts expect that Lakeland Financial Co. will post 3.3 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quantamental Technologies LLC acquired a new position in shares of Lakeland Financial in the 4th quarter valued at $48,000. Clean Yield Group acquired a new position in shares of Lakeland Financial in the 4th quarter valued at $60,000. CKW Financial Group boosted its holdings in shares of Lakeland Financial by 150.1% in the 4th quarter. CKW Financial Group now owns 2,931 shares of the financial services provider’s stock valued at $118,000 after buying an additional 1,759 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Lakeland Financial by 13.8% in the 4th quarter. Legal & General Group Plc now owns 4,356 shares of the financial services provider’s stock valued at $175,000 after buying an additional 529 shares in the last quarter. Finally, CIBC Private Wealth Group LLC acquired a new position in shares of Lakeland Financial in the 4th quarter valued at $201,000. Institutional investors own 70.94% of the company’s stock.

LKFN has been the subject of several analyst reports. ValuEngine upgraded shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Friday, January 25th. BidaskClub cut shares of Lakeland Financial from a “buy” rating to a “hold” rating in a report on Thursday, February 14th. Finally, Zacks Investment Research upgraded shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Tuesday, January 22nd. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $52.50.

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About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

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

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