Recent Insider Activity Suggests Potential Gains for Lakeland Financial Corporation (LKFN)

CHWY Stock
CHWY Stock

Lakeland Financial Corporation’s recent filing unveils that its Senior Vice President Steiner Jonathan P acquired Company’s shares for reported $0.17 million on Aug 17. In the deal valued at $55.26 per share,3,000 shares were bought. As a result of this transaction, Steiner Jonathan P now holds 9,369 shares worth roughly $ 0.49 million.

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Then, BARTELS ROBERT E JR bought 900 shares, generating $49,640 in total proceeds. Upon buying the shares at $55.16, the Director now owns 27,126 shares.

Before that, WELCH M SCOTT bought 10,000 shares. Lakeland Financial Corporation shares valued at $459,009 were divested by the Director at a price of $45.90 per share. As a result of the transaction, WELCH M SCOTT now holds 178,756 shares, worth roughly $9.43 million.

Raymond James upgraded its Lakeland Financial Corporation [LKFN] rating to an Outperform from a a Mkt perform in a research note published on Friday. PT values the company’s stock at a premium of 32.37 to its Friday closing price.

Price Performance Review of LKFN

On Friday, Lakeland Financial Corporation [NASDAQ:LKFN] saw its stock jump 1.19% to $52.75. On the same session, the stock had its day’s lowest price of $52.25, but rose to a high of $53.26. Over the last five days, the stock has gained 3.61%. Lakeland Financial Corporation shares have fallen nearly -27.71% since the year began. Nevertheless, the stocks have fallen -29.98% over the past one year. While a 52-week high of $83.57 was reached on 01/17/23, a 52-week low of $43.05 was recorded on 05/12/23. SMA at 50 days reached $52.88, while 200 days put it at $61.60. A total of 96134.0 shares were traded, compared to the trading of 0.12 million shares in the previous session.

Levels Of Support And Resistance For LKFN Stock

The 24-hour chart illustrates a support level at 52.25, which if violated will result in even more drops to 51.74. On the upside, there is a resistance level at 53.26. A further resistance level may holdings at 53.76. The Relative Strength Index (RSI) on the 14-day chart is 47.13, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -1.00, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.00%. Stochastics %K at 19.41% indicates the stock is a buying.

How much short interest is there in Lakeland Financial Corporation?

A steep rise in short interest was recorded in Lakeland Financial Corporation stocks on Aug 14, 2023, growing by 70000.0 shares to a total of 2.09 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.02 million shares. There was a rise of 3.35%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 10.03% of the overall stock float, the days-to-cover ratio (short ratio) rose to 18.78.

Lakeland Financial Corporation [LKFN] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 3,395,504 shares, or roughly 13.35% of the outstanding LKFN shares. In other words, the investor’s shares have fallen by -201,100 from its previous 13-F filing of 3596604.0. Additionally, The Vanguard Group, Inc. decreased -1.31% of its stake after which the total value it holdings stand at $97,676,465, while Neuberger Berman Investment Advis reduced -9.98% of its stake to hold $70.07 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 90,152 shares of Lakeland Financial Corporation, while Victory Capital Management, Inc. bought 238,212 shares. At present, Kayne Anderson Rudnick Investment is holding 1,061,857 shares valued at $58.87 million. Dimensional Fund Advisors LP owned 774,927 shares of the company at the time of its most recent 13F filing, worth $42.96 million.

According to FactSet, Lakeland Financial Corporation’s share price will average $56.25 in the next year, based on opinions of analysts polled by the firm. This is up nearly 4.55 percent from its previous closing price of $52.13. Analysts expect Lakeland Financial Corporation stock to reach the higher price of $64.00, while the lowest price estimate is $52.00. However, 4 analysts have rated LKFN stock as a Hold in their predictions for 2023.


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