Zacks Investment Research upgraded shares of Lakeland Financial (NASDAQ:LKFN) from a hold rating to a buy rating in a report published on Saturday, January 13th. They currently have $57.00 price objective on the financial services provider’s stock.
According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “
A number of other equities research analysts also recently commented on the company. BidaskClub downgraded Lakeland Financial from a buy rating to a hold rating in a research report on Thursday, January 4th. Keefe, Bruyette & Woods restated a hold rating and set a $50.00 price objective on shares of Lakeland Financial in a research report on Friday, December 22nd. Finally, ValuEngine upgraded Lakeland Financial from a hold rating to a buy rating in a research report on Thursday, November 30th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Lakeland Financial currently has a consensus rating of Buy and an average target price of $52.00.
Lakeland Financial (LKFN) traded down $0.21 during trading hours on Friday, reaching $48.21. The company’s stock had a trading volume of 94,636 shares, compared to its average volume of 112,066. Lakeland Financial has a twelve month low of $39.68 and a twelve month high of $52.43. The company has a market capitalization of $1,206.50, a price-to-earnings ratio of 20.09, a PEG ratio of 1.63 and a beta of 0.86. 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 (NASDAQ:LKFN) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The business had revenue of $44.85 million for the quarter, compared to the consensus estimate of $44.64 million. Lakeland Financial had a return on equity of 13.67% and a net margin of 28.42%. equities analysts anticipate that Lakeland Financial will post 2.96 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Thursday, January 25th will be paid a $0.22 dividend. The ex-dividend date is Wednesday, January 24th. This represents a $0.88 annualized dividend and a yield of 1.83%. Lakeland Financial’s dividend payout ratio (DPR) is currently 39.29%.
Large investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA grew its stake in 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 worth $145,000 after purchasing an additional 2,989 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Lakeland Financial during the third quarter worth $208,000. Dynamic Technology Lab Private Ltd purchased a new stake in Lakeland Financial during the second quarter worth $234,000. Prudential Financial Inc. lifted its holdings in Lakeland Financial by 4.4% during the second quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock worth $252,000 after buying an additional 230 shares during the period. Finally, Legal & General Group Plc lifted its holdings in Lakeland Financial by 2.7% during the second quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock worth $272,000 after buying an additional 156 shares during the period. 70.02% of the stock is currently owned by institutional investors.
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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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