Insider Buying Sparks Interest in Lakeland Financial Corp Stock
In a recent analysis of the Dividend Channel’s ”DividendRank” report, we focus on companies that have seen insider buying within the last six months. Insider purchases can signal confidence in the company’s future, as executives likely believe the stock is undervalued or that promising developments are underway. One notable example is Lakeland Financial Corp (Symbol: LKFN), where Senior Vice President Stephanie R. Leniski recently made a substantial investment.
On September 13, Leniski purchased 4,500 shares of LKFN for $292,680.00, at a price of $65.04 per share. As of Friday’s trading, buyers could acquire shares of Lakeland Financial for as low as $61.61 each, representing a 5.3% discount compared to Leniski’s purchase price. Currently, LKFN shares are up by 3.69% for the day. The chart below illustrates LKFN’s performance over the past year against its 200-day moving average:
Examining the chart, we observe that LKFN’s 52-week low stands at $46.26 per share, while the high reached $73.22. The last recorded trade was at $63.62. Below is a table documenting the insider purchases made in the last six months:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 09/13/2024 | Stephanie R. Leniski | Senior Vice President | 4,500 | $65.04 | $292,680.00 |
The DividendRank report highlighted LKFN shares as having appealing valuation and strong profitability metrics. Additionally, it noted Lakeland Financial’s solid history of quarterly dividends and positive long-term growth trends in crucial financial aspects.
The report states, ”Dividend investors looking for value typically focus on the most profitable companies trading at attractive prices. We aim to identify such stocks using our proprietary DividendRank formula, which sorts our coverage universe based on profitability and valuation metrics to create a list of ‘interesting’ stocks for further research.”
Lakeland Financial Corp offers an annualized dividend of $1.92 per share, with payments made quarterly. The latest ex-dividend date was October 25, 2024. Below is a long-term chart illustrating LKFN’s dividend history, which is crucial when assessing the likelihood of future dividend sustainability:
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The views and opinions expressed herein are those of the author and may not reflect the views of Nasdaq, Inc.
