Lakeland Financial (NASDAQ:LKFN) Stock Rating Lowered by TheStreet

TheStreet downgraded shares of Lakeland Financial (NASDAQ:LKFN) from a b rating to a c+ rating in a research report sent to investors on Wednesday morning, TheStreetRatingsTable reports. Several other equities analysts have also commented on the company. Zacks Investment Research lowered Lakeland Financial from a buy rating to a hold […]

Lakeland Financial Co. logoTheStreet downgraded shares of Lakeland Financial (NASDAQ:LKFN) from a b rating to a c+ rating in a research report sent to investors on Wednesday morning, TheStreetRatingsTable reports.

Several other equities analysts have also commented on the company. Zacks Investment Research lowered Lakeland Financial from a buy rating to a hold rating in a report on Thursday, August 13th. BidaskClub downgraded Lakeland Financial from a sell rating to a strong sell rating in a research report on Thursday, September 3rd.

NASDAQ:LKFN opened at $42.42 on Wednesday. The firm has a market capitalization of $1.09 billion, a PE ratio of 13.55 and a beta of 0.99. The stock has a 50 day moving average of $45.01 and a 200-day moving average of $42.32. Lakeland Financial has a 52 week low of $30.49 and a 52 week high of $53.00. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.14.

Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Monday, July 27th. The financial services provider reported $0.77 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.23. The company had revenue of $50.70 million during the quarter, compared to analyst estimates of $48.55 million. Lakeland Financial had a return on equity of 13.38% and a net margin of 32.49%. As a group, analysts predict that Lakeland Financial will post 3.01 EPS for the current fiscal year.

In other Lakeland Financial news, SVP Jonathan P. Steiner sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $50.23, for a total value of $125,575.00. Following the completion of the sale, the senior vice president now directly owns 5,000 shares in the company, valued at $251,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 4.80% of the company’s stock.

Large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its position in shares of Lakeland Financial by 6.2% during the 1st quarter. Geode Capital Management LLC now owns 381,324 shares of the financial services provider’s stock valued at $14,013,000 after acquiring an additional 22,228 shares during the last quarter. Nuveen Asset Management LLC boosted its position in shares of Lakeland Financial by 0.9% during the first quarter. Nuveen Asset Management LLC now owns 123,592 shares of the financial services provider’s stock worth $4,542,000 after purchasing an additional 1,098 shares in the last quarter. Barclays PLC lifted its position in Lakeland Financial by 17.2% in the 2nd quarter. Barclays PLC now owns 36,213 shares of the financial services provider’s stock valued at $1,687,000 after acquiring an additional 5,305 shares in the last quarter. Macquarie Group Ltd. bought a new stake in Lakeland Financial in the 2nd quarter valued at $5,998,000. Finally, AQR Capital Management LLC increased its stake in Lakeland Financial by 7.3% in the 1st quarter. AQR Capital Management LLC now owns 6,803 shares of the financial services provider’s stock valued at $250,000 after buying an additional 462 shares during the last quarter. Institutional investors own 77.02% of the company’s stock.

About Lakeland Financial

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.

Featured Article: What are economic reports?

Receive News & Ratings for Lakeland Financial Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Lakeland Financial and related companies with MarketBeat.com’s FREE daily email newsletter.

Next Post

World Navigator, Atlas Ocean Voyages' First Expedition Ship, Floats Out; Sister-Ship World Traveller Lays Keel

FORT LAUDERDALE, Fla., Oct. 5, 2020 /PRNewswire/ — With nine months until launch, Atlas Ocean Voyages’ World Navigator was floated out at West Sea Viana Shipyard in Portugal. The ‘float out’ marks the first time World Navigator enters the water and floats of her own accord. Now in wet dock, the […]