Lakeland Financial (LKFN) Stock Rating Reaffirmed by Keefe, Bruyette & Woods
Lakeland Financial (NASDAQ:LKFN)‘s stock had its “hold” rating reissued by equities researchers at Keefe, Bruyette & Woods in a report issued on Friday. They presently have a $50.00 target price on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target would suggest a potential upside of 1.34% from the stock’s previous close.
A number of other research analysts have also commented on the stock. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Monday, September 4th. ValuEngine upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BidaskClub lowered shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $51.33.
Lakeland Financial (NASDAQ LKFN) opened at $49.34 on Friday. Lakeland Financial has a 12 month low of $39.68 and a 12 month high of $52.43. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07. The company has a market cap of $1,230.00, a P/E ratio of 21.36, a P/E/G ratio of 2.09 and a beta of 0.83.
Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. The business had revenue of $44.12 million for the quarter, compared to analyst estimates of $43.91 million. research analysts expect that Lakeland Financial will post 2.38 EPS for the current fiscal year.
A number of large investors have recently modified their holdings of the stock. GSA Capital Partners LLP boosted its holdings in Lakeland Financial by 71.1% during the third quarter. GSA Capital Partners LLP now owns 27,707 shares of the financial services provider’s stock worth $1,350,000 after buying an additional 11,510 shares in the last quarter. Neuberger Berman Group LLC boosted its holdings in Lakeland Financial by 80.2% during the third quarter. Neuberger Berman Group LLC now owns 631,245 shares of the financial services provider’s stock worth $30,754,000 after buying an additional 280,980 shares in the last quarter. Grandeur Peak Global Advisors LLC bought a new stake in Lakeland Financial during the third quarter worth approximately $689,000. Stifel Financial Corp boosted its holdings in Lakeland Financial by 3.1% during the third quarter. Stifel Financial Corp now owns 308,977 shares of the financial services provider’s stock worth $15,055,000 after buying an additional 9,262 shares in the last quarter. Finally, OxFORD Asset Management LLP bought a new stake in Lakeland Financial during the third quarter worth approximately $881,000. Hedge funds and other institutional investors own 69.96% of the company’s stock.
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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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