Swiss National Bank increased its position in Lakeland Financial Co. (NASDAQ:LKFN) by 6.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,950 shares of the financial services provider’s stock after buying an additional 2,500 shares during the quarter. Swiss National Bank’s holdings in Lakeland Financial were worth $2,034,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new stake in shares of Lakeland Financial in the third quarter valued at $208,000. Bedel Financial Consulting Inc. acquired a new stake in shares of Lakeland Financial during the fourth quarter worth $313,000. Macquarie Group Ltd. acquired a new stake in shares of Lakeland Financial during the third quarter worth $314,000. Teacher Retirement System of Texas acquired a new stake in shares of Lakeland Financial during the fourth quarter worth $402,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of Lakeland Financial during the fourth quarter worth $519,000. Institutional investors and hedge funds own 71.66% of the company’s stock.
A number of equities research analysts have recently issued reports on LKFN shares. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 target price on shares of Lakeland Financial in a research report on Friday, December 22nd. Zacks Investment Research lowered Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. BidaskClub lowered Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Finally, ValuEngine lowered Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $52.00.
Shares of Lakeland Financial Co. (NASDAQ:LKFN) opened at $48.70 on Friday. The stock has a market capitalization of $1,231.43, a price-to-earnings ratio of 21.74, a PEG ratio of 1.65 and a beta of 0.90. The company has a current ratio of 0.97, a quick ratio of 0.95 and a debt-to-equity ratio of 0.24. Lakeland Financial Co. has a 52-week low of $39.68 and a 52-week high of $52.43.
Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $44.85 million for the quarter, compared to analyst estimates of $44.64 million. Lakeland Financial had a return on equity of 13.53% and a net margin of 28.42%. research analysts anticipate that Lakeland Financial Co. will post 2.96 EPS for the current fiscal year.
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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