Lakeland Financial’s (LKFN) “Hold” Rating Reiterated at Keefe, Bruyette & Woods

Lakeland Financial (NASDAQ:LKFN)‘s stock had its “hold” rating reissued by analysts at Keefe, Bruyette & Woods in a research report issued on Friday, December 22nd. They presently have a $50.00 price objective on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price indicates a potential downside of 2.11% from the stock’s previous close.

Other equities analysts also recently issued reports about the stock. ValuEngine downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Tuesday, September 26th. Finally, BidaskClub cut shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $52.00.

Lakeland Financial (LKFN) traded up $0.37 during midday trading on Friday, hitting $51.08. 71,497 shares of the stock were exchanged, compared to its average volume of 100,733. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.07. Lakeland Financial has a 12 month low of $39.68 and a 12 month high of $52.43. The firm has a market capitalization of $1,286.96, a P/E ratio of 22.02, a PEG ratio of 1.80 and a beta of 0.83.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. The company had revenue of $44.12 million for the quarter, compared to the consensus estimate of $43.91 million. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. sell-side analysts predict that Lakeland Financial will post 2.39 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Franklin Resources Inc. lifted its position in Lakeland Financial by 1.7% during the second quarter. Franklin Resources Inc. now owns 1,948,115 shares of the financial services provider’s stock worth $89,380,000 after purchasing an additional 31,765 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Lakeland Financial by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,081,120 shares of the financial services provider’s stock worth $49,602,000 after acquiring an additional 25,465 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Lakeland Financial by 4.6% in the third quarter. Victory Capital Management Inc. now owns 950,549 shares of the financial services provider’s stock worth $46,311,000 after acquiring an additional 41,769 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Lakeland Financial by 13.2% in the second quarter. Goldman Sachs Group Inc. now owns 912,929 shares of the financial services provider’s stock worth $41,885,000 after acquiring an additional 106,673 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Lakeland Financial by 4.0% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 858,109 shares of the financial services provider’s stock worth $41,807,000 after acquiring an additional 32,875 shares during the last quarter. 69.91% of the stock is owned by institutional investors and hedge funds.

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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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