Lakeland Financial (LKFN) Stock Rating Upgraded by BidaskClub

Lakeland Financial (NASDAQ:LKFN) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday.

LKFN has been the subject of several other reports. Zacks Investment Research raised shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $57.00 price objective for the company in a research report on Saturday, January 13th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 price objective on shares of Lakeland Financial in a research report on Friday, December 22nd. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Lakeland Financial presently has an average rating of “Buy” and a consensus price target of $50.67.

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Shares of Lakeland Financial stock opened at $46.23 on Friday. The company has a market capitalization of $1,168.97, a P/E ratio of 19.34, a P/E/G ratio of 1.56 and a beta of 0.86. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.24. Lakeland Financial has a 52 week low of $41.30 and a 52 week high of $52.43.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $44.85 million during the quarter, compared to analyst estimates of $44.64 million. Lakeland Financial had a net margin of 28.42% and a return on equity of 13.53%. analysts expect that Lakeland Financial will post 2.96 EPS for the current fiscal year.

In other Lakeland Financial news, EVP Michael E. Gavin sold 4,558 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $45.95, for a total transaction of $209,440.10. Following the completion of the transaction, the executive vice president now directly owns 7,800 shares of the company’s stock, valued at approximately $358,410. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Lisa M. O’neill sold 1,050 shares of the firm’s stock in a transaction that occurred on Monday, March 12th. The stock was sold at an average price of $48.26, for a total transaction of $50,673.00. Following the transaction, the chief financial officer now directly owns 16,756 shares of the company’s stock, valued at $808,644.56. The disclosure for this sale can be found here. Insiders sold a total of 10,768 shares of company stock valued at $502,282 over the last ninety days. 4.40% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. California Public Employees Retirement System raised its position in Lakeland Financial by 2.1% during the 4th quarter. California Public Employees Retirement System now owns 53,771 shares of the financial services provider’s stock worth $2,607,000 after buying an additional 1,100 shares during the last quarter. American International Group Inc. raised its position in Lakeland Financial by 8.1% during the 3rd quarter. American International Group Inc. now owns 16,202 shares of the financial services provider’s stock worth $789,000 after buying an additional 1,212 shares during the last quarter. Schroder Investment Management Group raised its position in Lakeland Financial by 0.5% during the 4th quarter. Schroder Investment Management Group now owns 251,208 shares of the financial services provider’s stock worth $12,181,000 after buying an additional 1,362 shares during the last quarter. Swiss National Bank raised its position in Lakeland Financial by 6.3% during the 4th quarter. Swiss National Bank now owns 41,950 shares of the financial services provider’s stock worth $2,034,000 after buying an additional 2,500 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Lakeland Financial during the 3rd quarter worth approximately $208,000. 70.94% of the stock is owned by institutional investors.

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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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