Lakeland Financial Corporation (LKFN) Downgraded to “Hold” at ValuEngine
Lakeland Financial Corporation (NASDAQ:LKFN) was downgraded by ValuEngine from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
LKFN has been the subject of a number of other reports. Zacks Investment Research upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Saturday, October 28th. BidaskClub cut shares of Lakeland Financial Corporation from a “sell” rating to a “strong sell” rating in a report on Monday, August 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $49.00.
Lakeland Financial Corporation (NASDAQ:LKFN) traded down $0.05 during trading hours on Thursday, reaching $48.04. The company had a trading volume of 115,090 shares, compared to its average volume of 73,075. The firm has a market capitalization of $1,217.42, a P/E ratio of 20.83, a price-to-earnings-growth ratio of 2.03 and a beta of 0.83. Lakeland Financial Corporation has a fifty-two week low of $39.68 and a fifty-two week high of $50.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.07.
Lakeland Financial Corporation (NASDAQ:LKFN) last posted its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $44.12 million during the quarter, compared to the consensus estimate of $43.91 million. Lakeland Financial Corporation had a return on equity of 13.33% and a net margin of 30.67%. analysts expect that Lakeland Financial Corporation will post 2.38 earnings per share for the current fiscal year.
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In other news, insider Batty Jill A. De sold 800 shares of Lakeland Financial Corporation stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $43.31, for a total transaction of $34,648.00. Following the sale, the insider now owns 8,132 shares of the company’s stock, valued at $352,196.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director M Scott Welch purchased 5,557 shares of the business’s stock in a transaction dated Thursday, September 7th. The shares were acquired at an average cost of $41.83 per share, for a total transaction of $232,449.31. Following the acquisition, the director now owns 112,148 shares of the company’s stock, valued at approximately $4,691,150.84. The disclosure for this purchase can be found here. Insiders acquired 10,113 shares of company stock worth $425,381 in the last three months. 5.00% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in LKFN. BNP Paribas Arbitrage SA raised its holdings in shares of Lakeland Financial Corporation by 1,811.5% during the second quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,989 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Lakeland Financial Corporation during the third quarter valued at approximately $208,000. Airain ltd bought a new stake in shares of Lakeland Financial Corporation during the second quarter valued at approximately $229,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Lakeland Financial Corporation during the second quarter valued at approximately $234,000. Finally, Prudential Financial Inc. raised its holdings in shares of Lakeland Financial Corporation by 4.4% during the second quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock valued at $252,000 after buying an additional 230 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors.
Lakeland Financial Corporation 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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