Lakeland Financial Co. (NASDAQ:LKFN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Saturday. The firm presently has a $49.00 price objective on the financial services provider’s stock. Zacks Investment Research‘s target price suggests a potential upside of 11.21% from the company’s previous close.

According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “

LKFN has been the topic of a number of other reports. BidaskClub lowered Lakeland Financial from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. DA Davidson raised Lakeland Financial from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, May 18th.

Lakeland Financial (LKFN) opened at 44.06 on Friday. Lakeland Financial has a 52 week low of $33.98 and a 52 week high of $48.88. The firm has a market cap of $1.10 billion, a PE ratio of 19.76 and a beta of 0.83. The stock has a 50 day moving average of $45.34 and a 200 day moving average of $44.77.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.05. Lakeland Financial had a return on equity of 13.89% and a net margin of 36.06%. The firm had revenue of $42.61 million for the quarter, compared to analyst estimates of $41.86 million. Analysts anticipate that Lakeland Financial will post $2.37 EPS for the current year.

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In related news, insider Eric H. Ottinger sold 1,899 shares of Lakeland Financial stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $46.28, for a total value of $87,885.72. Following the transaction, the insider now directly owns 21,500 shares of the company’s stock, valued at $995,020. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Batty Jill A. De sold 600 shares of Lakeland Financial stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total value of $25,566.00. Following the completion of the transaction, the insider now directly owns 9,232 shares in the company, valued at $393,375.52. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,949 shares of company stock worth $133,252. 5.00% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Parametric Portfolio Associates LLC raised its position in Lakeland Financial by 4.2% in the first quarter. Parametric Portfolio Associates LLC now owns 20,562 shares of the financial services provider’s stock worth $887,000 after buying an additional 836 shares in the last quarter. Schroder Investment Management Group increased its stake in shares of Lakeland Financial by 1.5% in the first quarter. Schroder Investment Management Group now owns 305,057 shares of the financial services provider’s stock worth $13,203,000 after buying an additional 4,457 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Lakeland Financial by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock worth $43,992,000 after buying an additional 28,198 shares during the last quarter. John W. Rosenthal Capital Management Inc. increased its stake in shares of Lakeland Financial by 4.4% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 145,874 shares of the financial services provider’s stock worth $6,290,000 after buying an additional 6,200 shares during the last quarter. Finally, Swiss National Bank increased its stake in shares of Lakeland Financial by 3.5% in the first quarter. Swiss National Bank now owns 41,250 shares of the financial services provider’s stock worth $1,779,000 after buying an additional 1,400 shares during the last quarter. 70.76% of the stock is currently owned by institutional investors.

Lakeland Financial Company Profile

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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