Lakeland Financial (NASDAQ:LKFN – Get Free Report) was downgraded by equities researchers at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Sunday.
LKFN has been the topic of several other reports. Hovde Group lifted their price objective on shares of Lakeland Financial from $63.00 to $66.00 and gave the company a “market perform” rating in a research report on Tuesday, April 28th. Weiss Ratings cut shares of Lakeland Financial from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $66.50.
View Our Latest Stock Report on Lakeland Financial
Lakeland Financial Price Performance
Lakeland Financial (NASDAQ:LKFN – Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The financial services provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The company had revenue of $70.87 million during the quarter, compared to the consensus estimate of $72.11 million. Lakeland Financial had a net margin of 26.04% and a return on equity of 14.67%. During the same quarter in the previous year, the company posted $1.04 earnings per share. Equities research analysts expect that Lakeland Financial will post 4.37 earnings per share for the current fiscal year.
Insider Buying and Selling
In other Lakeland Financial news, Director Bradley J. Toothaker sold 5,900 shares of the business’s stock in a transaction dated Friday, May 29th. The shares were sold at an average price of $60.62, for a total transaction of $357,658.00. Following the sale, the director directly owned 14,278 shares in the company, valued at approximately $865,532.36. The trade was a 29.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 3.00% of the company’s stock.
Institutional Investors Weigh In On Lakeland Financial
Institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its stake in shares of Lakeland Financial by 13.0% in the 1st quarter. Royal Bank of Canada now owns 60,794 shares of the financial services provider’s stock worth $3,614,000 after buying an additional 6,987 shares in the last quarter. AQR Capital Management LLC grew its holdings in Lakeland Financial by 90.5% during the first quarter. AQR Capital Management LLC now owns 32,427 shares of the financial services provider’s stock worth $1,927,000 after acquiring an additional 15,404 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Lakeland Financial by 5.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 14,868 shares of the financial services provider’s stock worth $884,000 after acquiring an additional 716 shares during the period. Millennium Management LLC grew its holdings in Lakeland Financial by 327.9% during the first quarter. Millennium Management LLC now owns 199,323 shares of the financial services provider’s stock worth $11,848,000 after acquiring an additional 152,738 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Lakeland Financial in the first quarter worth about $215,000. 81.15% of the stock is currently owned by institutional investors and hedge funds.
Lakeland Financial Company Profile
Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.
Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.
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