Zacks Investment Research Lowers Lakeland Financial (LKFN) to Hold

Zacks Investment Research downgraded shares of Lakeland Financial (NASDAQ:LKFN) from a buy rating to a hold rating in a research report released on Friday morning.

According to Zacks, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business. “

Several other research firms have also recently weighed in on LKFN. BidaskClub cut Lakeland Financial from a strong-buy rating to a buy rating in a research report on Tuesday, December 12th. ValuEngine cut Lakeland Financial from a buy rating to a hold rating in a research report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and set a $50.00 price objective on shares of Lakeland Financial in a research report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $52.00.

Lakeland Financial (NASDAQ LKFN) traded up $0.37 during trading on Friday, reaching $51.08. The company’s stock had a trading volume of 71,497 shares, compared to its average volume of 106,991. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $1,290.00, a PE ratio of 22.11, a price-to-earnings-growth ratio of 1.79 and a beta of 0.83. Lakeland Financial has a fifty-two week low of $39.68 and a fifty-two week high of $52.43.

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

The business also recently declared a quarterly dividend, which will be paid on Monday, February 5th. Stockholders of record on Thursday, January 25th will be given a $0.22 dividend. The ex-dividend date of this dividend is Wednesday, January 24th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.72%. Lakeland Financial’s dividend payout ratio is currently 38.10%.

Several institutional investors and hedge funds have recently modified their holdings of the company. CS Mckee LP boosted its position in shares of Lakeland Financial by 0.3% in the 2nd quarter. CS Mckee LP now owns 35,325 shares of the financial services provider’s stock worth $1,621,000 after purchasing an additional 100 shares in the last quarter. Nationwide Fund Advisors boosted its position in shares of Lakeland Financial by 0.5% in the 2nd quarter. Nationwide Fund Advisors now owns 24,453 shares of the financial services provider’s stock worth $1,122,000 after purchasing an additional 123 shares in the last quarter. Legal & General Group Plc boosted its position in shares of Lakeland Financial by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock worth $272,000 after purchasing an additional 156 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Lakeland Financial by 4.4% in the 2nd quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock worth $252,000 after purchasing an additional 230 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Lakeland Financial by 1.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 18,419 shares of the financial services provider’s stock worth $845,000 after purchasing an additional 236 shares in the last quarter. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

WARNING: This piece of content was originally published by Community Financial News and is the property of of Community Financial News. If you are reading this piece of content on another publication, it was illegally stolen and republished in violation of US and international copyright law. The correct version of this piece of content can be viewed at https://www.com-unik.info/2018/01/13/zacks-investment-research-lowers-lakeland-financial-lkfn-to-hold.html.

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.

Get a free copy of the Zacks research report on Lakeland Financial (LKFN)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

What are top analysts saying about Lakeland Financial? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Lakeland Financial and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit