Lakeland Financial (NASDAQ:LKFN) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

Lakeland Financial Corporation (NASDAQ:LKFN) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $61.27 and traded as high as $63.30. Lakeland Financial shares last traded at $62.40, with a volume of 152,608 shares.

Analyst Upgrades and Downgrades

LKFN has been the subject of a number of recent research reports. Hovde Group cut Lakeland Financial from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 7th. Keefe, Bruyette & Woods decreased their price target on shares of Lakeland Financial from $68.00 to $66.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 28th. Wall Street Zen raised shares of Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Saturday, January 31st. Stephens set a $66.00 price objective on shares of Lakeland Financial in a research note on Tuesday, January 27th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $68.00 target price (down from $74.00) on shares of Lakeland Financial in a research note on Tuesday, October 28th. One investment analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $68.00.

Lakeland Financial Price Performance

The company has a market capitalization of $1.59 billion, a PE ratio of 15.56 and a beta of 0.75. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.02. The company’s 50 day moving average price is $59.18 and its 200-day moving average price is $61.27.

Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Monday, January 26th. The financial services provider reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.11. The firm had revenue of $69.80 million for the quarter, compared to analysts’ expectations of $69.45 million. Lakeland Financial had a return on equity of 14.19% and a net margin of 24.51%.During the same quarter last year, the firm earned $0.94 earnings per share. On average, sell-side analysts forecast that Lakeland Financial Corporation will post 3.7 earnings per share for the current fiscal year.

Lakeland Financial Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 5th. Stockholders of record on Sunday, January 25th were issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date was Friday, January 23rd. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.50. Lakeland Financial’s dividend payout ratio (DPR) is presently 51.87%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LKFN. Parkside Financial Bank & Trust grew its stake in shares of Lakeland Financial by 248.0% in the second quarter. Parkside Financial Bank & Trust now owns 442 shares of the financial services provider’s stock valued at $27,000 after buying an additional 315 shares in the last quarter. Osaic Holdings Inc. grew its position in Lakeland Financial by 186.0% in the second quarter. Osaic Holdings Inc. now owns 469 shares of the financial services provider’s stock valued at $29,000 after acquiring an additional 305 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of Lakeland Financial by 1,212.5% during the second quarter. EverSource Wealth Advisors LLC now owns 630 shares of the financial services provider’s stock valued at $39,000 after purchasing an additional 582 shares during the period. Global Retirement Partners LLC lifted its position in shares of Lakeland Financial by 118.9% during the fourth quarter. Global Retirement Partners LLC now owns 996 shares of the financial services provider’s stock worth $57,000 after purchasing an additional 541 shares in the last quarter. Finally, GAMMA Investing LLC boosted its stake in shares of Lakeland Financial by 80.9% in the third quarter. GAMMA Investing LLC now owns 1,670 shares of the financial services provider’s stock valued at $107,000 after purchasing an additional 747 shares during the period. 81.15% of the stock is owned by institutional investors and hedge funds.

About Lakeland Financial

Lakeland Financial Corporation is a bank holding company based in Warsaw, Indiana, that operates through its principal subsidiary, Lakeland Bank. The company offers a full range of commercial and consumer banking services, including deposit products such as checking accounts, savings accounts and certificates of deposit, as well as a variety of loan offerings spanning commercial real estate, agricultural, mortgage, consumer and small-business lending.

Originally organized in 1893 as Kosciusko County State Bank, the enterprise reorganized as a bank holding company in 1984 to facilitate strategic growth and diversification.