BidaskClub upgraded shares of Lakeland Financial (NASDAQ:LKFN) from a sell rating to a hold rating in a research report released on Thursday, BidAskClub reports.

A number of other brokerages have also weighed in on LKFN. Zacks Investment Research lowered shares of Lakeland Financial from a hold rating to a sell rating in a research note on Tuesday, August 13th. ValuEngine lowered shares of Lakeland Financial from a hold rating to a sell rating in a research note on Wednesday, September 4th.

NASDAQ LKFN traded up $0.35 during mid-day trading on Thursday, reaching $45.92. The stock had a trading volume of 78,083 shares, compared to its average volume of 75,630. Lakeland Financial has a 1 year low of $37.79 and a 1 year high of $49.20. The stock has a market cap of $1.14 billion, a PE ratio of 14.67, a price-to-earnings-growth ratio of 1.37 and a beta of 0.95. The company has a fifty day moving average price of $43.35 and a 200 day moving average price of $45.70. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98.

Lakeland Financial (NASDAQ:LKFN) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.04. Lakeland Financial had a net margin of 33.35% and a return on equity of 16.03%. The company had revenue of $50.00 million during the quarter, compared to analyst estimates of $49.78 million. As a group, equities research analysts expect that Lakeland Financial will post 3.25 earnings per share for the current year.

In other Lakeland Financial news, Director Michael L. Kubacki sold 10,944 shares of the business’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $43.23, for a total transaction of $473,109.12. Following the completion of the sale, the director now directly owns 204,934 shares in the company, valued at approximately $8,859,296.82. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Kristin Pruitt sold 1,600 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $46.00, for a total transaction of $73,600.00. Following the sale, the insider now owns 7,494 shares of the company’s stock, valued at $344,724. The disclosure for this sale can be found here. Over the last quarter, insiders have acquired 11,000 shares of company stock valued at $468,290 and have sold 13,044 shares valued at $568,224. 4.60% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Comerica Bank grew its position in shares of Lakeland Financial by 3.2% during the 1st quarter. Comerica Bank now owns 17,554 shares of the financial services provider’s stock valued at $831,000 after acquiring an additional 549 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of Lakeland Financial by 30.6% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 2,444 shares of the financial services provider’s stock valued at $114,000 after acquiring an additional 573 shares during the period. Advisor Group Inc. grew its position in shares of Lakeland Financial by 101.3% during the 2nd quarter. Advisor Group Inc. now owns 1,600 shares of the financial services provider’s stock valued at $75,000 after acquiring an additional 805 shares during the period. Bank of Montreal Can grew its position in shares of Lakeland Financial by 316.7% during the 1st quarter. Bank of Montreal Can now owns 1,425 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 1,083 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its position in shares of Lakeland Financial by 11.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 16,155 shares of the financial services provider’s stock valued at $757,000 after acquiring an additional 1,655 shares during the period. Institutional investors and hedge funds own 74.74% 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. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

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