Lakeland Financial (LKFN) Lowered to “Hold” at Zacks Investment Research
Lakeland Financial (NASDAQ:LKFN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Friday.
According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
Several other equities research analysts also recently commented on the stock. BidaskClub downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Thursday, January 4th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $50.00 target price on shares of Lakeland Financial in a research note on Friday, December 22nd. Finally, ValuEngine raised shares of Lakeland Financial from a “hold” rating to a “buy” rating in a research note on Thursday, November 30th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Lakeland Financial currently has an average rating of “Hold” and a consensus price target of $51.00.
Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. The firm had revenue of $44.12 million during the quarter, compared to the consensus estimate of $43.91 million. equities research analysts forecast that Lakeland Financial will post 2.39 EPS for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its holdings in shares of Lakeland Financial by 1,811.5% in the second quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after buying an additional 2,989 shares during the period. SG Americas Securities LLC acquired a new position in shares of Lakeland Financial in the third quarter valued at approximately $208,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Lakeland Financial in the second quarter valued at approximately $234,000. Prudential Financial Inc. boosted its holdings in shares of Lakeland Financial by 4.4% in the second 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 period. Finally, Legal & General Group Plc boosted its holdings in shares of Lakeland Financial by 2.7% in the second 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 period. Institutional investors own 69.91% 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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