Lakeland Financial (NASDAQ:LKFN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Friday.
According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
LKFN has been the subject of several other research reports. BidaskClub cut Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 target price on shares of Lakeland Financial in a research note on Friday, December 22nd. Finally, ValuEngine cut Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $52.00.
Shares of Lakeland Financial (LKFN) opened at $51.08 on Friday. The firm has a market capitalization of $1,286.96, a PE ratio of 22.02, a PEG ratio of 1.80 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.95 and a quick ratio of 0.95. Lakeland Financial has a one year low of $39.68 and a one year high of $52.43.
Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02. Lakeland Financial had a return on equity of 13.33% and a net margin of 30.67%. The company had revenue of $44.12 million during the quarter, compared to analysts’ expectations of $43.91 million. sell-side analysts expect that Lakeland Financial will post 2.39 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wells Fargo & Company MN grew its stake in Lakeland Financial by 7.6% during the second quarter. Wells Fargo & Company MN now owns 79,494 shares of the financial services provider’s stock worth $3,647,000 after purchasing an additional 5,634 shares during the period. Vanguard Group Inc. grew its stake in Lakeland Financial by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,081,120 shares of the financial services provider’s stock valued at $49,602,000 after acquiring an additional 25,465 shares during the period. Menta Capital LLC acquired a new stake in Lakeland Financial in the second quarter valued at approximately $1,051,000. Stifel Financial Corp grew its stake in Lakeland Financial by 15.9% in the second quarter. Stifel Financial Corp now owns 299,715 shares of the financial services provider’s stock valued at $13,755,000 after acquiring an additional 41,061 shares during the period. Finally, GSA Capital Partners LLP grew its stake in Lakeland Financial by 71.1% in the third quarter. GSA Capital Partners LLP now owns 27,707 shares of the financial services provider’s stock valued at $1,350,000 after acquiring an additional 11,510 shares during the period. 69.91% of the stock is owned by institutional investors and hedge funds.
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About Lakeland Financial
Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.
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