Lakeland Financial (NASDAQ:LKFN) PT Raised to $65.00 at Keefe, Bruyette & Woods

Lakeland Financial (NASDAQ:LKFN) had its price target hoisted by analysts at Keefe, Bruyette & Woods from $64.00 to $65.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential downside of 6.30% from the company’s current price.

Lakeland Financial Trading Down 2.5 %

Shares of LKFN traded down $1.81 during mid-day trading on Monday, reaching $69.37. 8,702 shares of the company were exchanged, compared to its average volume of 119,408. Lakeland Financial has a 52 week low of $44.47 and a 52 week high of $73.22. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.88 and a current ratio of 0.88. The stock has a market capitalization of $1.77 billion, a PE ratio of 19.15 and a beta of 0.67. The business has a 50 day simple moving average of $62.32 and a two-hundred day simple moving average of $63.01.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02. Lakeland Financial had a return on equity of 14.72% and a net margin of 23.70%. The company had revenue of $68.74 million during the quarter, compared to the consensus estimate of $60.70 million. During the same period last year, the company earned $0.57 earnings per share. The firm’s revenue was up 14.5% compared to the same quarter last year. On average, analysts predict that Lakeland Financial will post 3.41 earnings per share for the current fiscal year.

Insider Transactions at Lakeland Financial

In related news, SVP Kyra E. Clark sold 500 shares of the firm’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $62.03, for a total transaction of $31,015.00. Following the completion of the sale, the senior vice president now owns 7,596 shares of the company’s stock, valued at $471,179.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 3.30% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Lakeland Financial

Several large investors have recently added to or reduced their stakes in LKFN. Victory Capital Management Inc. grew its stake in Lakeland Financial by 12.0% during the fourth quarter. Victory Capital Management Inc. now owns 1,627,094 shares of the financial services provider’s stock worth $106,021,000 after purchasing an additional 174,613 shares during the period. Natixis Advisors L.P. grew its stake in Lakeland Financial by 66.2% during the fourth quarter. Natixis Advisors L.P. now owns 219,097 shares of the financial services provider’s stock worth $14,276,000 after purchasing an additional 87,300 shares during the period. Eagle Asset Management Inc. grew its stake in Lakeland Financial by 100.9% in the fourth quarter. Eagle Asset Management Inc. now owns 145,447 shares of the financial services provider’s stock valued at $9,477,000 after acquiring an additional 73,045 shares during the period. Raymond James & Associates grew its stake in Lakeland Financial by 132.5% in the second quarter. Raymond James & Associates now owns 98,219 shares of the financial services provider’s stock valued at $6,042,000 after acquiring an additional 55,975 shares during the period. Finally, Hsbc Holdings PLC acquired a new stake in Lakeland Financial in the fourth quarter valued at approximately $3,015,000. Institutional investors and hedge funds own 81.15% 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 in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.