Lakeland Financial (NASDAQ:LKFN) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday.
LKFN has been the subject of several other research reports. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a report on Wednesday, October 31st. ValuEngine upgraded shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Monday, November 26th. Finally, Boenning Scattergood reiterated a “hold” rating on shares of Lakeland Financial in a research note on Friday, October 26th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $47.50.
Get Lakeland Financial alerts:Shares of NASDAQ:LKFN traded down $0.36 during trading hours on Thursday, hitting $46.25. The company’s stock had a trading volume of 50,600 shares, compared to its average volume of 87,081. Lakeland Financial has a 52 week low of $37.79 and a 52 week high of $51.25. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97. The firm has a market cap of $1.16 billion, a P/E ratio of 14.78, a P/E/G ratio of 1.40 and a beta of 0.91.
Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Friday, January 25th. The financial services provider reported $0.83 EPS for the quarter, beating the consensus estimate of $0.80 by $0.03. Lakeland Financial had a net margin of 33.63% and a return on equity of 16.54%. The business had revenue of $49.70 million during the quarter, compared to analyst estimates of $48.48 million. On average, research analysts predict that Lakeland Financial will post 3.28 EPS for the current fiscal year.
In other news, Director M Scott Welch acquired 8,000 shares of Lakeland Financial stock in a transaction that occurred on Monday, December 10th. The stock was purchased at an average price of $42.45 per share, for a total transaction of $339,600.00. Following the purchase, the director now directly owns 136,448 shares in the company, valued at approximately $5,792,217.60. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jonathan P. Steiner sold 1,991 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $45.19, for a total transaction of $89,973.29. Following the transaction, the senior vice president now owns 9,375 shares of the company’s stock, valued at approximately $423,656.25. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 24,432 shares of company stock valued at $1,041,297 and have sold 10,663 shares valued at $483,795. Insiders own 4.40% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of LKFN. BlackRock Inc. increased its stake in Lakeland Financial by 1.1% during the 3rd quarter. BlackRock Inc. now owns 2,094,712 shares of the financial services provider’s stock valued at $97,362,000 after purchasing an additional 23,104 shares in the last quarter. Vanguard Group Inc. increased its stake in Lakeland Financial by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 1,158,463 shares of the financial services provider’s stock valued at $53,845,000 after purchasing an additional 30,102 shares in the last quarter. Vanguard Group Inc increased its stake in Lakeland Financial by 2.7% during the 3rd quarter. Vanguard Group Inc now owns 1,158,463 shares of the financial services provider’s stock valued at $53,845,000 after purchasing an additional 30,102 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Lakeland Financial by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,049,134 shares of the financial services provider’s stock valued at $42,134,000 after purchasing an additional 11,809 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in Lakeland Financial by 0.3% during the 4th quarter. Victory Capital Management Inc. now owns 964,139 shares of the financial services provider’s stock valued at $38,720,000 after purchasing an additional 3,130 shares in the last quarter. Hedge funds and other institutional investors own 71.28% of the company’s stock.
Lakeland Financial Company Profile
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.
Read More: Penny Stocks, What You Need To Know
No comments:
Post a Comment