Lakeland Financial (LKFN) Earns Hold Rating from Keefe, Bruyette & Woods

Keefe, Bruyette & Woods reiterated their hold rating on shares of Lakeland Financial (NASDAQ:LKFN) in a report issued on Friday morning. They currently have a $50.00 price objective on the financial services provider’s stock.

A number of other equities analysts also recently weighed in on the company. Zacks Investment Research upgraded Lakeland Financial from a hold rating to a buy rating and set a $49.00 target price on the stock in a research note on Monday, September 4th. ValuEngine upgraded Lakeland Financial from a hold rating to a buy rating in a research note on Friday, September 1st. Finally, BidaskClub downgraded Lakeland Financial from a strong-buy rating to a buy rating in a research note on Tuesday, December 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $51.33.

Lakeland Financial (LKFN) opened at $49.34 on Friday. The stock has a market capitalization of $1,230.00, a PE ratio of 21.36, a price-to-earnings-growth ratio of 2.09 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.95. Lakeland Financial has a 12 month low of $39.68 and a 12 month high of $52.43.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Lakeland Financial had a return on equity of 13.33% and a net margin of 30.67%. The business had revenue of $44.12 million during the quarter, compared to the consensus estimate of $43.91 million. equities research analysts expect that Lakeland Financial will post 2.38 earnings per share for the current fiscal year.

Several large investors have recently bought and sold shares of LKFN. Neuberger Berman Group LLC bought a new stake in shares of Lakeland Financial in the 2nd quarter worth approximately $16,070,000. Goldman Sachs Group Inc. raised its holdings in shares of Lakeland Financial by 13.2% in the 2nd quarter. Goldman Sachs Group Inc. now owns 912,929 shares of the financial services provider’s stock worth $41,885,000 after purchasing an additional 106,673 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Lakeland Financial by 4.6% in the 3rd quarter. Victory Capital Management Inc. now owns 950,549 shares of the financial services provider’s stock worth $46,311,000 after purchasing an additional 41,769 shares during the period. Stifel Financial Corp raised its holdings in shares of Lakeland Financial by 15.9% in the 2nd quarter. Stifel Financial Corp now owns 299,715 shares of the financial services provider’s stock worth $13,755,000 after purchasing an additional 41,061 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in shares of Lakeland Financial by 4.0% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 858,109 shares of the financial services provider’s stock worth $41,807,000 after purchasing an additional 32,875 shares during the period. 69.96% of the stock is currently owned by institutional investors.

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Lakeland Financial Company Profile

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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