On November 8, 2024, BARTELS ROBERT E JR, Director of Lakeland Financial Corp (LKFN, Financial), bought 802 shares of the company. The transaction was documented in a recent SEC Filing. Following this purchase, the insider now owns 28,426 shares of Lakeland Financial Corp.
Lakeland Financial Corp, based in Warsaw, Indiana, operates as the bank holding company for Lake City Bank which provides various commercial and retail banking services. The company offers a range of products and services, including commercial and consumer banking, wealth advisory, and investment management services.
The shares were bought at a price of $72.32, valuing the transaction at approximately $58,015.04. This acquisition has increased the insider's stake in the company significantly.
Over the past year, BARTELS ROBERT E JR has purchased a total of 1,162 shares of Lakeland Financial Corp, indicating a positive trend in insider confidence. In contrast, the overall insider transaction history for Lakeland Financial Corp shows 3 insider buys and 19 insider sells over the same period.
The stock's market cap is currently $1.846 billion. With a price-earnings ratio of 18.80, the stock trades higher than both the industry median of 10.69 and its historical median.
According to the GF Value, which is an intrinsic value estimate from GuruFocus, Lakeland Financial Corp is considered Fairly Valued with a price-to-GF-Value ratio of 1.08. The GF Value of $67.16 is slightly below the current trading price, suggesting the stock is reasonably priced based on historical trading multiples, adjusted factors based on past performance, and future business performance estimates.
This insider buy could signal a robust faith in the company's future performance, aligning with the GF Value's assessment of the stock's valuation.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
