BidaskClub Upgrades Lakeland Financial (LKFN) to “Sell”

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Lakeland Financial (NASDAQ:LKFN) was upgraded by BidaskClub from a “strong sell” rating to a “sell” rating in a research report issued on Thursday.

LKFN has been the topic of a number of other reports. ValuEngine lowered Lakeland Financial from a “hold” rating to a “sell” rating in a research report on Thursday, September 27th. Boenning Scattergood reiterated a “hold” rating on shares of Lakeland Financial in a report on Thursday, July 26th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $51.00 price target on shares of Lakeland Financial in a report on Thursday, July 26th. Finally, Zacks Investment Research upgraded Lakeland Financial from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a report on Wednesday, June 27th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $53.50.

Shares of NASDAQ:LKFN opened at $44.32 on Thursday. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.42. Lakeland Financial has a twelve month low of $43.41 and a twelve month high of $52.43. The company has a market cap of $1.18 billion, a PE ratio of 18.54, a PEG ratio of 1.52 and a beta of 0.76.

Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Wednesday, July 25th. The financial services provider reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.04. Lakeland Financial had a return on equity of 14.83% and a net margin of 29.95%. The company had revenue of $47.23 million for the quarter, compared to analyst estimates of $47.05 million. Equities analysts predict that Lakeland Financial will post 3.06 EPS for the current fiscal year.

In related news, Director Emily E. Pichon sold 500 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $50.85, for a total transaction of $25,425.00. Following the completion of the sale, the director now owns 15,363 shares in the company, valued at $781,208.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Batty Jill A. De sold 1,800 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $48.81, for a total value of $87,858.00. Following the completion of the transaction, the insider now owns 10,386 shares of the company’s stock, valued at approximately $506,940.66. The disclosure for this sale can be found here. Insiders have sold 2,600 shares of company stock valued at $128,298 in the last quarter. 4.40% of the stock is currently owned by corporate insiders.

Large 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. A.R.T. Advisors LLC bought a new position in Lakeland Financial in the 1st quarter valued at $282,000. Dynamic Technology Lab Private Ltd grew its stake in Lakeland Financial by 45.3% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 6,260 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 1,951 shares during the period. Xact Kapitalforvaltning AB grew its stake in Lakeland Financial by 60.0% in the 1st quarter. Xact Kapitalforvaltning AB now owns 8,530 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 3,200 shares during the period. Finally, BlueMountain Capital Management LLC grew its stake in Lakeland Financial by 52.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 10,369 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 3,547 shares during the period. Hedge funds and other institutional investors own 71.92% 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 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.

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