Lakeland Financial (LKFN) Downgraded by BidaskClub to Buy

Lakeland Financial (NASDAQ:LKFN) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Tuesday.

A number of other research firms have also recently weighed in on LKFN. ValuEngine upgraded Lakeland Financial from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research cut Lakeland Financial from a “buy” rating to a “hold” rating in a report on Saturday, September 23rd. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.00.

Lakeland Financial (NASDAQ LKFN) opened at $48.87 on Tuesday. The firm has a market capitalization of $1,243.62, a P/E ratio of 21.28, a price-to-earnings-growth ratio of 2.07 and a beta of 0.83. Lakeland Financial has a fifty-two week low of $39.68 and a fifty-two week high of $52.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.95 and a quick ratio of 0.95.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The firm had revenue of $44.12 million during the quarter, compared to analysts’ expectations of $43.91 million. Lakeland Financial had a return on equity of 13.33% and a net margin of 30.67%. equities analysts forecast that Lakeland Financial will post 2.38 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. Alps Advisors Inc. boosted its stake in shares of Lakeland Financial by 0.3% during the 2nd quarter. Alps Advisors Inc. now owns 10,751 shares of the financial services provider’s stock valued at $493,000 after buying an additional 28 shares during the last quarter. CS Mckee LP boosted its stake in shares of Lakeland Financial by 0.3% during the 2nd quarter. CS Mckee LP now owns 35,325 shares of the financial services provider’s stock valued at $1,621,000 after buying an additional 100 shares during the last quarter. Nationwide Fund Advisors boosted its stake in shares of Lakeland Financial by 0.5% during the 2nd quarter. Nationwide Fund Advisors now owns 24,453 shares of the financial services provider’s stock valued at $1,122,000 after buying an additional 123 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Lakeland Financial by 2.7% during the 2nd quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock valued at $272,000 after buying an additional 156 shares during the last quarter. Finally, Prudential Financial Inc. boosted its stake in shares of Lakeland Financial by 4.4% during the 2nd quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock valued at $252,000 after buying an additional 230 shares during the last quarter. Institutional investors own 69.98% of the company’s stock.

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About Lakeland Financial

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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