Lakeland Financial exec sells over $28,000 in company stock

In a recent transaction on July 30, 2024, Brok A. Lahrman, the Senior Vice President and Chief Accounting Officer of Lakeland Financial Corp (NASDAQ:), sold a total of 415 shares of the company’s common stock. The shares were sold at an average price of $68.9117, amounting to a total value of $28,598.

The sale was disclosed in a legal filing with the Securities and Exchange Commission, which is available to the public. Following the transaction, Lahrman now directly owns 1,739 shares in the company, valued at approximately $119,843, based on the latest closing price.

Lakeland Financial Corp, based in Warsaw, Indiana, is a financial holding company for Lake City Bank. It provides a range of financial services including commercial and retail banking, wealth advisory, and investment management services.

Investors often monitor insider sales as they can provide insights into an executive’s perspective on the company’s current valuation and future prospects. However, insider transactions are not necessarily indicative of future stock performance and can be motivated by a variety of factors.

The specifics of the transaction, including the exact price and total value, are routinely disclosed by company insiders as part of their regulatory filings. These filings provide transparency and ensure that all market participants have access to the same information.

Lahrman’s recent sale represents a relatively small portion of his holdings in Lakeland Financial, and investors will likely continue to observe insider activity for broader trends and potential signals.

InvestingPro Insights

As investors digest the news of Brok A. Lahrman’s recent stock sale, it’s worth noting that Lakeland Financial Corp (LKFN) continues to showcase a solid financial standing in the market. With a market capitalization of approximately $1.75 billion USD and a price-to-earnings (P/E) ratio of 17.43, the company reflects a stable valuation metric that investors often consider.

Moreover, Lakeland Financial Corp has demonstrated a commitment to returning value to shareholders, as evidenced by its impressive track record of raising dividends for the last 10 consecutive years, and maintaining dividend payments for an impressive 30 years. The company’s dividend yield stands at 2.79%, with a growth rate of 4.35% over the last twelve months as of Q2 2024.

InvestingPro Tips highlight the company’s high shareholder yield and its strong performance over the last three months, with a price total return of 17.71%. These insights suggest that Lakeland Financial Corp is recognized for its financial resilience and shareholder-friendly policies. Additionally, there are more insights available on InvestingPro, which include a total of 10 tips for a more comprehensive understanding of LKFN’s financial health and investment potential.

For investors looking to further explore these metrics and tips, InvestingPro offers additional insights that can help in making informed decisions. To gain access to this valuable information, use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.

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