ValuEngine lowered shares of Lakeland Financial Corporation (NASDAQ:LKFN) from a buy rating to a hold rating in a research report report published on Monday.

A number of other research analysts also recently issued reports on LKFN. Zacks Investment Research upgraded shares of Lakeland Financial Corporation from a hold rating to a buy rating and set a $52.00 target price for the company in a research report on Tuesday, September 26th. BidaskClub downgraded shares of Lakeland Financial Corporation from a sell rating to a strong sell rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Lakeland Financial Corporation presently has a consensus rating of Hold and an average price target of $48.00.

Shares of Lakeland Financial Corporation (NASDAQ LKFN) traded up 0.25% during trading on Monday, reaching $48.61. The company had a trading volume of 70,142 shares. The stock has a market capitalization of $1.22 billion, a price-to-earnings ratio of 21.80 and a beta of 0.86. The company’s 50 day moving average is $45.01 and its 200-day moving average is $44.79. Lakeland Financial Corporation has a 1-year low of $33.98 and a 1-year high of $49.22.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.05. The company had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a net margin of 30.72% and a return on equity of 13.06%. On average, equities research analysts anticipate that Lakeland Financial Corporation will post $2.37 earnings per share for the current year.

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In other Lakeland Financial Corporation news, insider Eric H. Ottinger sold 1,899 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $46.28, for a total value of $87,885.72. Following the completion of the transaction, the insider now owns 21,500 shares in the company, valued at $995,020. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director M Scott Welch acquired 4,443 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was purchased at an average price of $42.30 per share, with a total value of $187,938.90. Following the transaction, the director now owns 112,148 shares of the company’s stock, valued at approximately $4,743,860.40. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 10,613 shares of company stock valued at $447,131 and sold 3,149 shares valued at $142,334. Corporate insiders own 5.00% of the company’s stock.

Institutional investors have recently modified their holdings of the business. SG Americas Securities LLC acquired a new position in shares of Lakeland Financial Corporation in the first quarter worth about $102,000. BNP Paribas Arbitrage SA raised its position in shares of Lakeland Financial Corporation by 1,811.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock worth $145,000 after acquiring an additional 2,989 shares during the period. Airain ltd acquired a new position in shares of Lakeland Financial Corporation in the second quarter worth about $229,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Lakeland Financial Corporation in the second quarter worth about $234,000. Finally, Prudential Financial Inc. raised its position in shares of 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 acquiring an additional 80 shares during the period. Institutional investors and hedge funds own 69.31% of the company’s stock.

Lakeland Financial Corporation Company Profile

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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