Bullish indicating open at $55-$60, IPO prices at $37
In a recent transaction, Donald Robinson-Gay, Senior Vice President at Lakeland Financial Corp (NASDAQ:LKFN), a $1.69 billion market cap financial institution, sold a portion of his holdings in the company. According to InvestingPro data, the company trades at a P/E ratio of 18.19 and offers a 3.02% dividend yield. According to the SEC filing, Robinson-Gay sold 550 shares of common stock on February 25, 2025, at a price of $66.246 per share. This transaction totaled approximately $36,435. Following the sale, Robinson-Gay retains ownership of 4,974 shares in the company. InvestingPro analysis shows the company has maintained dividend payments for 31 consecutive years and raised them for 11 straight years, with analyst price targets ranging from $69 to $76. Get access to 12+ additional InvestingPro Tips and comprehensive financial metrics by subscribing today.
In other recent news, Lakeland Financial Corp has announced several noteworthy developments. The company reported a change in its executive team with the appointment of Stephanie R. Leniski as Executive Vice President and Chief Retail Banking Officer, effective February 19, 2025. This change was disclosed in an 8-K filing with the Securities and Exchange Commission (SEC). Additionally, Lakeland Financial updated its executive compensation plans, introducing new time-based and performance-based restricted stock unit awards under its 2017 Amended and Restated Equity Incentive Plan. These changes are intended to align executive interests with those of shareholders and incentivize long-term performance.
Moreover, Lakeland Financial’s Board of Directors authorized an increase in the quarterly dividend to $0.50 per share, up from the previous $0.48 per share, with the dividend set for distribution on February 5, 2025. Keefe, Bruyette & Woods maintained a Market Perform rating for Lakeland Financial, with a steady price target of $73.00, viewing the dividend hike as a "modest positive." The consistent annual dividend growth highlights the company’s strong operational performance and solid capital position. These developments reflect Lakeland Financial’s commitment to robust corporate governance and shareholder returns.
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