BidaskClub Lowers Lakeland Financial (LKFN) to Sell

BidaskClub cut shares of Lakeland Financial (NASDAQ:LKFN) from a hold rating to a sell rating in a research note released on Friday.

Several other research firms have also weighed in on LKFN. Zacks Investment Research lowered Lakeland Financial from a buy rating to a hold rating in a report on Thursday, November 1st. Boenning Scattergood restated a hold rating on shares of Lakeland Financial in a report on Friday, October 26th. Finally, ValuEngine upgraded Lakeland Financial from a sell rating to a hold rating in a report on Monday, November 26th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Lakeland Financial currently has a consensus rating of Hold and an average price target of $49.00.

NASDAQ:LKFN opened at $43.08 on Friday. Lakeland Financial has a fifty-two week low of $39.41 and a fifty-two week high of $51.76. The firm has a market cap of $1.09 billion, a P/E ratio of 18.03, a P/E/G ratio of 1.40 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.97 and a current ratio of 0.97.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.02. Lakeland Financial had a return on equity of 15.54% and a net margin of 30.88%. The company had revenue of $48.36 million for the quarter, compared to analyst estimates of $48.60 million. Sell-side analysts forecast that Lakeland Financial will post 3.09 EPS for the current year.

In other Lakeland Financial news, insider Batty Jill A. De sold 1,800 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $48.81, for a total value of $87,858.00. Following the transaction, the insider now owns 10,386 shares of the company’s stock, valued at approximately $506,940.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director M Scott Welch acquired 8,000 shares of the business’s stock in a transaction on Monday, October 29th. The stock was acquired at an average cost of $42.25 per share, for a total transaction of $338,000.00. Following the transaction, the director now directly owns 136,448 shares in the company, valued at $5,764,928. The disclosure for this purchase can be found here. Insiders acquired a total of 10,124 shares of company stock worth $430,613 in the last ninety days. 4.40% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. United Services Automobile Association bought a new position in Lakeland Financial in the 2nd quarter valued at $202,000. Motley Fool Wealth Management LLC grew its position in shares of Lakeland Financial by 2.8% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 104,150 shares of the financial services provider’s stock worth $5,019,000 after buying an additional 2,873 shares in the last quarter. BKD Wealth Advisors LLC grew its position in shares of Lakeland Financial by 11.5% during the 3rd quarter. BKD Wealth Advisors LLC now owns 40,853 shares of the financial services provider’s stock worth $1,899,000 after buying an additional 4,216 shares in the last quarter. Citadel Advisors LLC grew its position in shares of Lakeland Financial by 28.2% during the 2nd quarter. Citadel Advisors LLC now owns 104,530 shares of the financial services provider’s stock worth $5,038,000 after buying an additional 22,968 shares in the last quarter. Finally, Bank of America Corp DE grew its position in shares of Lakeland Financial by 11.8% during the 2nd quarter. Bank of America Corp DE now owns 85,365 shares of the financial services provider’s stock worth $4,114,000 after buying an additional 9,020 shares in the last quarter. 70.95% of the stock is currently owned by institutional investors.

Lakeland Financial Company Profile

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.

Further Reading: Risk Tolerance

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