BidaskClub downgraded shares of Lakeland Financial Corporation (NASDAQ:LKFN) from a sell rating to a strong sell rating in a research report sent to investors on Monday morning.

Several other analysts also recently issued reports on LKFN. Keefe, Bruyette & Woods set a $43.00 price target on Lakeland Financial Corporation and gave the stock a hold rating in a research note on Tuesday, April 18th. Zacks Investment Research downgraded Lakeland Financial Corporation from a buy rating to a hold rating in a research note on Friday, April 28th. Finally, DA Davidson upgraded Lakeland Financial Corporation from a neutral rating to a buy rating and set a $49.00 price target for the company in a research note on Thursday, May 18th.

Shares of Lakeland Financial Corporation (NASDAQ:LKFN) opened at 44.31 on Monday. The company’s 50 day moving average price is $45.83 and its 200 day moving average price is $44.79. Lakeland Financial Corporation has a one year low of $33.98 and a one year high of $48.88. The stock has a market capitalization of $1.11 billion, a P/E ratio of 19.87 and a beta of 0.83.

Lakeland Financial Corporation (NASDAQ:LKFN) last released its quarterly earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.05. The company had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. On average, equities analysts expect that Lakeland Financial Corporation will post $2.37 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Tuesday, July 25th were paid a dividend of $0.22 per share. The ex-dividend date was Friday, July 21st. This represents a $0.88 annualized dividend and a dividend yield of 1.99%. Lakeland Financial Corporation’s dividend payout ratio (DPR) is presently 39.46%.

In other news, EVP Michael E. Gavin sold 2,500 shares of the company’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.93, for a total transaction of $107,325.00. Following the completion of the sale, the executive vice president now owns 2,018 shares in the company, valued at approximately $86,632.74. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Batty Jill A. De sold 600 shares of the company’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total value of $25,566.00. Following the sale, the insider now owns 9,232 shares of the company’s stock, valued at approximately $393,375.52. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,999 shares of company stock valued at $220,777. 5.00% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Teachers Advisors LLC increased its stake in Lakeland Financial Corporation by 6.8% in the fourth quarter. Teachers Advisors LLC now owns 56,087 shares of the financial services provider’s stock valued at $2,656,000 after buying an additional 3,551 shares during the period. Wells Fargo & Company MN increased its stake in shares of Lakeland Financial Corporation by 7.9% in the first quarter. Wells Fargo & Company MN now owns 73,860 shares of the financial services provider’s stock valued at $3,185,000 after buying an additional 5,384 shares during the last quarter. First Trust Advisors LP increased its stake in shares of Lakeland Financial Corporation by 27.2% in the first quarter. First Trust Advisors LP now owns 91,166 shares of the financial services provider’s stock valued at $3,931,000 after buying an additional 19,501 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of Lakeland Financial Corporation by 51.3% in the first quarter. Bank of New York Mellon Corp now owns 290,127 shares of the financial services provider’s stock valued at $12,510,000 after buying an additional 98,331 shares during the last quarter. Finally, Comerica Bank increased its stake in shares of Lakeland Financial Corporation by 0.5% in the first quarter. Comerica Bank now owns 12,100 shares of the financial services provider’s stock valued at $567,000 after buying an additional 62 shares during the last quarter. Institutional investors own 70.76% of the company’s stock.

About Lakeland Financial Corporation

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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