Lakeland Financial (NASDAQ:LKFN) was downgraded by Zacks Investment Research 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 research firms have also issued reports on LKFN. BidaskClub lowered Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 target price on shares of Lakeland Financial in a research report on Friday, December 22nd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $50.67.
Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $44.85 million during the quarter, compared to analysts’ expectations of $44.64 million. Lakeland Financial had a return on equity of 13.53% and a net margin of 28.42%. sell-side analysts expect that Lakeland Financial will post 2.96 EPS for the current year.
In other news, SVP Batty Jill A. De sold 1,400 shares of the business’s stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $48.60, for a total transaction of $68,040.00. Following the completion of the transaction, the senior vice president now directly owns 10,386 shares in the company, valued at approximately $504,759.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Jonathan P. Steiner sold 1,960 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $45.92, for a total value of $90,003.20. Following the transaction, the insider now owns 6,600 shares of the company’s stock, valued at $303,072. The disclosure for this sale can be found here. Insiders have sold a total of 10,768 shares of company stock valued at $502,282 over the last 90 days. Corporate insiders own 4.40% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. SG Americas Securities LLC acquired a new position in shares of Lakeland Financial during the 3rd quarter worth about $208,000. OLD National Bancorp IN acquired a new position in shares of Lakeland Financial during the 4th quarter worth about $211,000. Xact Kapitalforvaltning AB acquired a new position in shares of Lakeland Financial during the 4th quarter worth about $258,000. Macquarie Group Ltd. acquired a new position in shares of Lakeland Financial during the 3rd quarter worth about $314,000. Finally, Bedel Financial Consulting Inc. acquired a new position in shares of Lakeland Financial during the 4th quarter worth about $313,000. Institutional investors own 70.94% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lakeland Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Financial and related companies with MarketBeat.com's FREE daily email newsletter.