Lakeland Financial (LKFN) Lifted to “Sell” at BidaskClub

Lakeland Financial (NASDAQ:LKFN) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued to clients and investors on Thursday.

A number of other brokerages have also recently issued reports on LKFN. Keefe, Bruyette & Woods reissued a “hold” rating and set a $51.00 price objective on shares of Lakeland Financial in a report on Thursday, July 26th. Zacks Investment Research raised Lakeland Financial from a “hold” rating to a “buy” rating and set a $56.00 price objective on the stock in a report on Wednesday, June 27th. ValuEngine cut Lakeland Financial from a “hold” rating to a “sell” rating in a report on Thursday, September 27th. Finally, Boenning Scattergood reissued a “hold” rating on shares of Lakeland Financial in a report on Thursday, July 26th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.50.

Shares of NASDAQ LKFN opened at $44.32 on Thursday. Lakeland Financial has a one year low of $43.41 and a one year high of $52.43. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a market cap of $1.18 billion, a PE ratio of 18.54, a PEG ratio of 1.52 and a beta of 0.76.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Wednesday, July 25th. The financial services provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.04. Lakeland Financial had a return on equity of 14.83% and a net margin of 29.95%. The firm had revenue of $47.23 million for the quarter, compared to analysts’ expectations of $47.05 million. As a group, research analysts expect that Lakeland Financial will post 3.06 EPS for the current fiscal year.

In other Lakeland Financial news, Director Emily E. Pichon sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $50.85, for a total value of $25,425.00. Following the sale, the director now owns 15,363 shares of the company’s stock, valued at approximately $781,208.55. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Batty Jill A. De sold 1,800 shares of the firm’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $48.81, for a total value of $87,858.00. Following the completion of the sale, the insider now directly owns 10,386 shares in the company, valued at approximately $506,940.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,600 shares of company stock worth $128,298. Insiders own 4.40% of the company’s stock.

Several large investors have recently added to or reduced their stakes in the business. MetLife Investment Advisors LLC raised its holdings in shares of Lakeland Financial by 13.6% in the 2nd quarter. MetLife Investment Advisors LLC now owns 11,384 shares of the financial services provider’s stock valued at $549,000 after acquiring an additional 1,361 shares in the last quarter. John W. Rosenthal Capital Management Inc. increased its position in shares of Lakeland Financial by 1.5% during the 2nd quarter. John W. Rosenthal Capital Management Inc. now owns 125,000 shares of the financial services provider’s stock valued at $6,024,000 after purchasing an additional 1,826 shares during the last quarter. Dynamic Technology Lab Private Ltd increased its position in shares of Lakeland Financial by 45.3% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 6,260 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 1,951 shares during the last quarter. Motley Fool Wealth Management LLC increased its position in shares of Lakeland Financial by 2.8% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 104,150 shares of the financial services provider’s stock valued at $5,019,000 after purchasing an additional 2,873 shares during the last quarter. Finally, Segall Bryant & Hamill LLC increased its position in shares of Lakeland Financial by 0.8% during the 1st quarter. Segall Bryant & Hamill LLC now owns 380,763 shares of the financial services provider’s stock valued at $17,603,000 after purchasing an additional 3,117 shares during the last quarter. 71.92% of the stock is currently owned by hedge funds and other institutional investors.

About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

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