Lakeland Financial Corporation (NASDAQ:LKFN) Stock Rating Lowered by BidaskClub

Lakeland Financial Corporation (NASDAQ:LKFN) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

Other analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research report on Tuesday, June 27th. DA Davidson upgraded Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $43.00 price objective on Lakeland Financial Corporation and gave the stock a “hold” rating in a research report on Tuesday, April 18th.

Lakeland Financial Corporation (NASDAQ:LKFN) traded up 0.22% during trading on Wednesday, hitting $45.46. 40,130 shares of the company traded hands. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 21.24 and a beta of 0.83. The company’s 50-day moving average is $45.67 and its 200 day moving average is $44.75. Lakeland Financial Corporation has a 52-week low of $32.74 and a 52-week high of $48.88.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its quarterly earnings data on Tuesday, April 25th. The financial services provider reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The firm had revenue of $40.32 million during the quarter, compared to analysts’ expectations of $40.29 million. Lakeland Financial Corporation had a return on equity of 12.70% and a net margin of 30.52%. On average, equities analysts anticipate that Lakeland Financial Corporation will post $2.28 earnings per share for the current year.

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In related news, EVP Michael E. Gavin sold 3,000 shares of Lakeland Financial Corporation stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $45.94, for a total transaction of $137,820.00. Following the completion of the sale, the executive vice president now owns 3,400 shares in the company, valued at approximately $156,196. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Michael E. Gavin sold 2,500 shares of Lakeland Financial Corporation stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.93, for a total value of $107,325.00. Following the sale, the executive vice president now owns 2,018 shares of the company’s stock, valued at approximately $86,632.74. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,100 shares of company stock valued at $270,711. 5.00% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Lakeland Financial Corporation during the first quarter worth approximately $102,000. Motley Fool Wealth Management LLC bought a new stake in Lakeland Financial Corporation during the first quarter worth approximately $225,000. Prudential Financial Inc. boosted its stake in Lakeland Financial Corporation by 1.5% in the first quarter. Prudential Financial Inc. now owns 5,272 shares of the financial services provider’s stock worth $228,000 after buying an additional 80 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Lakeland Financial Corporation by 3.3% in the first quarter. PNC Financial Services Group Inc. now owns 6,200 shares of the financial services provider’s stock worth $267,000 after buying an additional 200 shares in the last quarter. Finally, Highbridge Capital Management LLC bought a new stake in Lakeland Financial Corporation during the fourth quarter worth approximately $346,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

About Lakeland Financial Corporation

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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