Keefe, Bruyette & Woods Has Lowered Expectations for Lakeland Financial (NASDAQ:LKFN) Stock Price

Lakeland Financial (NASDAQ:LKFN) had its price target lowered by research analysts at Keefe, Bruyette & Woods from $69.00 to $65.00 in a note issued to 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 would indicate a potential upside of 15.97% from the company’s current price.

Separately, Hovde Group assumed coverage on shares of Lakeland Financial in a research note on Friday, March 21st. They issued a “market perform” rating and a $66.00 target price for the company.

Lakeland Financial Trading Up 2.2 %

Lakeland Financial stock opened at $56.05 on Monday. The company has a market capitalization of $1.46 billion, a P/E ratio of 15.44 and a beta of 0.64. The firm’s fifty day simple moving average is $58.74 and its 200-day simple moving average is $65.77. Lakeland Financial has a 1-year low of $50.00 and a 1-year high of $78.61.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Friday, April 25th. The financial services provider reported $0.78 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.09). The company had revenue of $90.46 million during the quarter, compared to the consensus estimate of $63.54 million. Lakeland Financial had a net margin of 21.74% and a return on equity of 13.31%. During the same period last year, the company earned $0.91 earnings per share. On average, equities research analysts predict that Lakeland Financial will post 3.7 earnings per share for the current year.

Insider Activity at Lakeland Financial

In related news, SVP Donald Robinson-Gay sold 550 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $66.25, for a total transaction of $36,437.50. Following the completion of the sale, the senior vice president now owns 4,974 shares of the company’s stock, valued at $329,527.50. This represents a 9.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Stephanie R. Leniski sold 1,500 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $61.94, for a total transaction of $92,910.00. Following the transaction, the executive vice president now owns 6,211 shares of the company’s stock, valued at approximately $384,709.34. This represents a 19.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of Lakeland Financial by 5.4% in the 4th quarter. Vanguard Group Inc. now owns 1,940,356 shares of the financial services provider’s stock worth $133,419,000 after buying an additional 100,001 shares during the last quarter. Silvercrest Asset Management Group LLC boosted its position in shares of Lakeland Financial by 5.7% during the 4th quarter. Silvercrest Asset Management Group LLC now owns 956,565 shares of the financial services provider’s stock valued at $65,773,000 after acquiring an additional 51,624 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Lakeland Financial by 4.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 946,280 shares of the financial services provider’s stock valued at $65,066,000 after acquiring an additional 43,312 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Lakeland Financial by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 807,525 shares of the financial services provider’s stock valued at $55,526,000 after buying an additional 6,307 shares during the period. Finally, Copeland Capital Management LLC increased its stake in shares of Lakeland Financial by 2.4% in the fourth quarter. Copeland Capital Management LLC now owns 764,186 shares of the financial services provider’s stock worth $52,545,000 after buying an additional 18,247 shares during the period. 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.