Lakeland Financial (NASDAQ:LKFN – Get Valuation) was downgraded to a “hold” rating from a “buy” rating by Zacks Investment Research in a research note issued to investors on Wednesday, reports Zacks.com.
According to Zacks, “LAKELAND FINANCIAL CORP. a bank holding company engaged in the general banking business.”
Separately, StockNews.com began reporting shares of Lakeland Financial in a research note on Thursday, March 31st. They give the stock a “sell” rating.
NASDAQ LKFN shares opened at $73.12 on Wednesday. The company has a market cap of $1.89 billion, a P/E of 19.55 and a beta of 0.72. Lakeland Financial has a 12-month low of $56.06 and a 12-month high of $85.71. The company’s 50-day simple moving average is $78.73 and its 200-day simple moving average is $76.42. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt to equity ratio of 0.11.
Lakeland Financial (NASDAQ:LKFN – Get Rating) last reported its earnings results on Tuesday, January 25th. The financial services firm reported earnings per share (EPS) of $0.95 for the quarter, beating Thomson Reuters’ consensus estimate of $0.97 ($0.02). The company had revenue of $54.72 million for the quarter, compared to the consensus estimate of $57.47 million. Lakeland Financial had a return on equity of 14.09% and a net margin of 40.23%. In the same period last year, the company generated earnings per share of $0.97. On average, equities analysts are forecasting that Lakeland Financial will report earnings per share of 3.7 for the current year.
In addition, CFO Lisa M. O’neill sold 1,250 shares of the stock in a transaction dated Tuesday, March 15. The shares sold at an average price of $82.22 for a total value of $102,775.00. The sale was disclosed in a filing with the Securities & Exchange Commission available at this link. In addition, SVP Jonathan P. Steiner sold 1,500 shares of the stock in a transaction on Friday, January 28th. The shares sold at an average price of $78.30 for a total transaction of $117,450.00. The disclosure for this sale can be found here. Over the past 90 days, insiders have sold 71,521 shares of the company’s stock valued at $5,719,506. Company insiders own 4.00% of the company’s stock.
Hedge funds have recently changed their positions in the company. Fifth Third Bancorp increased its stake in Lakeland Financial by 141.5% in the third quarter. Fifth Third Bancorp now owns 454 shares of the financial services provider, valued at $32,000, after buying another 266 shares last quarter. Pinebridge Investments LP acquired a new interest in Lakeland Financial in the fourth quarter for approximately $96,000. SG Americas Securities LLC acquired a new interest in Lakeland Financial for approximately $163,000 during the third quarter. Raymond James & Associates acquired a new interest in Lakeland Financial for approximately $232,000 during the fourth quarter. Finally, in the third quarter, Mutual of America Capital Management LLC acquired a new stake in Lakeland Financial for approximately $240,000. Institutional investors own 81.43% of the company’s shares.
Company profile of Lakeland Financial (received rating)
Lakeland Financial Corporation acts as the bank holding company for Lake City Bank, which provides various banking products and services. The company accepts various insoles products such as: B. Interest-free, interest-bearing checks, savings deposits, money market, NOW and sight deposits. Lending products include commercial and industrial real estate, commercial real estate and multi-family homes, agribusiness and agriculture, 1-4 family consumer mortgages and other consumer loans.
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