BidaskClub Downgrades Lakeland Financial (LKFN) to Hold
Lakeland Financial (NASDAQ:LKFN) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued on Thursday.
LKFN has been the subject of a number of other research reports. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $50.00 target price on shares of Lakeland Financial in a research report on Friday, December 22nd. ValuEngine cut shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Finally, Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, September 26th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $51.00.
Shares of Lakeland Financial (NASDAQ:LKFN) opened at $48.66 on Thursday. The stock has a market cap of $1,217.92, a PE ratio of 20.97, a P/E/G ratio of 1.85 and a beta of 0.83. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07. Lakeland Financial has a 1 year low of $39.68 and a 1 year high of $52.43.
A number of institutional investors and hedge funds have recently bought and sold shares of LKFN. BNP Paribas Arbitrage SA increased its position in Lakeland Financial by 1,811.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 2,989 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Lakeland Financial in the 3rd quarter valued at about $208,000. Airain ltd acquired a new stake in Lakeland Financial in the 2nd quarter valued at about $229,000. Dynamic Technology Lab Private Ltd acquired a new stake in Lakeland Financial in the 2nd quarter valued at about $234,000. Finally, Prudential Financial Inc. increased its position in Lakeland Financial by 4.4% in the 2nd quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock valued at $252,000 after acquiring an additional 230 shares in the last quarter. Hedge funds and other institutional investors own 69.96% of the company’s stock.
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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