Recent Analysts’ Ratings Changes for Lakeland Financial (LKFN)

Several analysts have recently updated their ratings and price targets for Lakeland Financial (NASDAQ: LKFN):

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  • 10/30/2019 – Lakeland Financial was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/30/2019 – Lakeland Financial was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
  • 10/22/2019 – Lakeland Financial was downgraded by analysts at ValuEngine from a “hold” rating to a “sell” rating.
  • 10/22/2019 – Lakeland Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
  • 10/18/2019 – Lakeland Financial was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 10/15/2019 – Lakeland Financial was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
  • 10/8/2019 – Lakeland Financial was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating.
  • 10/8/2019 – Lakeland Financial was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
  • 10/7/2019 – Lakeland Financial was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 10/2/2019 – Lakeland Financial was upgraded by analysts at Zacks Investment Research from a “sell” rating to a “hold” rating. According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
  • 9/12/2019 – Lakeland Financial was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.

Shares of Lakeland Financial stock opened at $47.05 on Monday. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 15.03 and a beta of 0.93. Lakeland Financial Co. has a fifty-two week low of $37.79 and a fifty-two week high of $49.20. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.98 and a current ratio of 0.96. The stock has a 50 day moving average of $44.73 and a 200 day moving average of $45.13.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.83 EPS for the quarter, topping the consensus estimate of $0.78 by $0.05. Lakeland Financial had a return on equity of 15.57% and a net margin of 33.08%. The business had revenue of $50.31 million during the quarter, compared to analyst estimates of $48.43 million. Analysts forecast that Lakeland Financial Co. will post 3.29 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Thursday, October 24th. This represents a $1.20 annualized dividend and a dividend yield of 2.55%. Lakeland Financial’s dividend payout ratio is currently 38.34%.

In other news, Director M Scott Welch purchased 10,000 shares of the stock in a transaction dated Wednesday, August 14th. The stock was acquired at an average cost of $42.51 per share, for a total transaction of $425,100.00. Following the completion of the transaction, the director now directly owns 1,907 shares in the company, valued at approximately $81,066.57. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kevin L. Deardorff sold 3,870 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $43.96, for a total value of $170,125.20. Following the transaction, the executive vice president now owns 50,535 shares of the company’s stock, valued at $2,221,518.60. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,314 shares of company stock valued at $664,749. Company insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Lakeland Financial by 0.9% in the second quarter. BlackRock Inc. now owns 1,843,217 shares of the financial services provider’s stock valued at $86,318,000 after purchasing an additional 17,028 shares during the period. Vanguard Group Inc. raised its stake in Lakeland Financial by 1.2% in the second quarter. Vanguard Group Inc. now owns 1,193,513 shares of the financial services provider’s stock valued at $55,892,000 after buying an additional 14,008 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in Lakeland Financial by 15.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,027,917 shares of the financial services provider’s stock valued at $45,208,000 after buying an additional 139,228 shares in the last quarter. Victory Capital Management Inc. raised its stake in Lakeland Financial by 6.5% in the second quarter. Victory Capital Management Inc. now owns 1,021,829 shares of the financial services provider’s stock valued at $47,852,000 after buying an additional 62,656 shares in the last quarter. Finally, Northern Trust Corp raised its stake in Lakeland Financial by 0.5% in the second quarter. Northern Trust Corp now owns 689,515 shares of the financial services provider’s stock valued at $32,290,000 after buying an additional 3,251 shares in the last quarter. Institutional investors and hedge funds own 75.01% of the company’s stock.

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

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