Zacks Investment Research lowered shares of Lakeland Financial Corporation (NASDAQ:LKFN) from a buy rating to a hold rating in a report issued on Friday.

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

Several other equities analysts also recently issued reports on LKFN. BidaskClub downgraded Lakeland Financial Corporation from a sell rating to a strong sell rating in a research report on Monday, August 14th. DA Davidson upgraded Lakeland Financial Corporation from a neutral rating to a buy rating and set a $49.00 price objective for the company in a research report on Thursday, May 18th.

Lakeland Financial Corporation (NASDAQ LKFN) opened at 44.06 on Friday. The firm has a market capitalization of $1.10 billion, a P/E ratio of 19.76 and a beta of 0.83. The firm has a 50-day moving average price of $45.34 and a 200-day moving average price of $44.77. Lakeland Financial Corporation has a one year low of $33.98 and a one year high of $48.88.

Lakeland Financial Corporation (NASDAQ:LKFN) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The business had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. Equities analysts anticipate that Lakeland Financial Corporation will post $2.37 earnings per share for the current year.

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The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Tuesday, July 25th were given a dividend of $0.22 per share. The ex-dividend date of this dividend was Friday, July 21st. This represents a $0.88 annualized dividend and a dividend yield of 2.00%. Lakeland Financial Corporation’s dividend payout ratio is presently 39.46%.

In other news, insider Batty Jill A. De sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total transaction 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 sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric H. Ottinger sold 1,899 shares of the business’s 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 owns 21,500 shares of the company’s stock, valued at $995,020. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,949 shares of company stock valued at $133,252. Insiders own 5.00% of the company’s stock.

Several institutional investors have recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in Lakeland Financial Corporation during the first quarter worth $102,000. BNP Paribas Arbitrage SA increased its stake in Lakeland Financial Corporation by 1,811.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock worth $145,000 after buying an additional 2,989 shares during the period. Airain ltd purchased a new stake in Lakeland Financial Corporation during the second quarter worth $229,000. Dynamic Technology Lab Private Ltd purchased a new stake in Lakeland Financial Corporation during the second quarter worth $234,000. Finally, Motley Fool Wealth Management LLC purchased a new stake in Lakeland Financial Corporation during the first quarter worth $225,000. Institutional investors and hedge funds own 69.31% of the company’s stock.

About Lakeland Financial Corporation

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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