Lakeland Financial (NASDAQ:LKFN) Cut to “Sell” at BidaskClub

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BidaskClub downgraded shares of Lakeland Financial (NASDAQ:LKFN) from a hold rating to a sell rating in a research report sent to investors on Monday, BidAskClub reports.

A number of other analysts also recently issued reports on the company. Boenning Scattergood reiterated a hold rating on shares of Lakeland Financial in a research report on Thursday, May 2nd. Zacks Investment Research downgraded Lakeland Financial from a buy rating to a hold rating in a research report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Lakeland Financial has a consensus rating of Hold and a consensus target price of $52.50.

Shares of NASDAQ LKFN opened at $45.74 on Monday. Lakeland Financial has a 52 week low of $37.79 and a 52 week high of $51.25. The business has a 50-day moving average of $46.06. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.06. The company has a market cap of $1.15 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.37 and a beta of 0.96.

Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. Lakeland Financial had a return on equity of 16.34% and a net margin of 33.75%. The business had revenue of $49.73 million during the quarter, compared to the consensus estimate of $49.25 million. On average, equities research analysts predict that Lakeland Financial will post 3.29 EPS for the current fiscal year.

In other news, insider Batty Jill A. De sold 4,200 shares of Lakeland Financial stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $48.00, for a total transaction of $201,600.00. Following the completion of the sale, the insider now owns 6,186 shares in the company, valued at approximately $296,928. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 4.60% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of LKFN. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Lakeland Financial during the 1st quarter valued at about $35,000. Bank of Montreal Can lifted its position in Lakeland Financial by 316.7% in the 1st quarter. Bank of Montreal Can now owns 1,425 shares of the financial services provider’s stock worth $64,000 after buying an additional 1,083 shares during the last quarter. SG Americas Securities LLC bought a new stake in Lakeland Financial in the 1st quarter worth approximately $109,000. Legal & General Group Plc lifted its position in Lakeland Financial by 13.8% in the 4th quarter. Legal & General Group Plc now owns 4,356 shares of the financial services provider’s stock worth $175,000 after buying an additional 529 shares during the last quarter. Finally, Kessler Investment Group LLC lifted its position in Lakeland Financial by 32.1% in the 1st quarter. Kessler Investment Group LLC now owns 4,499 shares of the financial services provider’s stock worth $203,000 after buying an additional 1,094 shares during the last quarter. Hedge funds and other institutional investors own 73.51% 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. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

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