Lakeland Financial (NASDAQ:LKFN) Share Price Crosses Above Two Hundred Day Moving Average – Here’s Why

Lakeland Financial Co. (NASDAQ:LKFN)’s stock price 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 changing hands.

Lakeland Financial Trading Down 0.2 %

The firm has a market capitalization of $1.74 billion, a price-to-earnings ratio of 17.68 and a beta of 0.69. The stock’s fifty day moving average price is $71.42 and its two-hundred day moving average price is $67.03.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. The company had revenue of $106.94 million during the quarter, compared to the consensus estimate of $59.90 million. During the same period in the previous year, the business earned $0.98 EPS. Analysts anticipate that Lakeland Financial Co. will post 3.42 earnings per share for the current fiscal year.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the completion of the transaction, the executive vice president now owns 32,475 shares in the company, valued at $2,386,912.50. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders have sold 4,150 shares of company stock worth $305,327 over the last three months. Insiders own 3.30% of the company’s stock.

Institutional Trading of Lakeland Financial

A number of large investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its position in Lakeland Financial by 58.0% during the third quarter. GAMMA Investing LLC now owns 640 shares of the financial services provider’s stock worth $42,000 after buying an additional 235 shares during the period. nVerses Capital LLC grew its position in shares of Lakeland Financial by 60.0% during the third quarter. nVerses Capital LLC now owns 800 shares of the financial services provider’s stock worth $52,000 after acquiring an additional 300 shares during the last quarter. Point72 DIFC Ltd acquired a new position in shares of Lakeland Financial in the 3rd quarter valued at $74,000. US Bancorp DE raised its position in Lakeland Financial by 72.2% in the 3rd quarter. US Bancorp DE now owns 2,123 shares of the financial services provider’s stock valued at $138,000 after purchasing an additional 890 shares during the last quarter. Finally, Quest Partners LLC boosted its stake in Lakeland Financial by 33,337.5% during the 3rd quarter. Quest Partners LLC now owns 2,675 shares of the financial services provider’s stock worth $174,000 after purchasing an additional 2,667 shares during the period. 81.15% of the stock is owned by institutional investors and hedge funds.

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.