Lakeland Financial Corporation (NASDAQ:LKFN) was downgraded by stock analysts at ValuEngine from a “buy” rating to a “hold” rating in a report released on Thursday.

A number of other research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a report on Monday, September 4th. BidaskClub lowered Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Lakeland Financial Corporation presently has an average rating of “Hold” and an average target price of $49.00.

Shares of Lakeland Financial Corporation (NASDAQ LKFN) traded down $0.05 during trading on Thursday, reaching $48.04. The company had a trading volume of 115,090 shares, compared to its average volume of 73,075. Lakeland Financial Corporation has a 52-week low of $39.68 and a 52-week high of $50.00. The firm has a market capitalization of $1,217.42, a PE ratio of 20.83, a P/E/G ratio of 2.03 and a beta of 0.83. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.07.

Lakeland Financial Corporation (NASDAQ:LKFN) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.02. Lakeland Financial Corporation had a return on equity of 13.33% and a net margin of 30.67%. The firm had revenue of $44.12 million for the quarter, compared to analysts’ expectations of $43.91 million. analysts predict that Lakeland Financial Corporation will post 2.38 EPS for the current fiscal year.

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In other Lakeland Financial Corporation news, insider Batty Jill A. De sold 800 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $43.31, for a total value of $34,648.00. Following the transaction, the insider now directly owns 8,132 shares of the company’s stock, valued at $352,196.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director M Scott Welch acquired 5,557 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was bought at an average cost of $41.83 per share, for a total transaction of $232,449.31. Following the completion of the transaction, the director now directly owns 112,148 shares of the company’s stock, valued at $4,691,150.84. The disclosure for this purchase can be found here. Insiders acquired 10,113 shares of company stock worth $425,381 over the last three months. 5.00% of the stock is currently owned by corporate insiders.

A number of large investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its position in shares of Lakeland Financial Corporation by 1.7% during the second quarter. Franklin Resources Inc. now owns 1,948,115 shares of the financial services provider’s stock worth $89,380,000 after acquiring an additional 31,765 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Lakeland Financial Corporation by 2.4% during the second quarter. Vanguard Group Inc. now owns 1,081,120 shares of the financial services provider’s stock worth $49,602,000 after acquiring an additional 25,465 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Lakeland Financial Corporation by 2.8% during the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock worth $43,992,000 after acquiring an additional 28,198 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Lakeland Financial Corporation by 4.6% during the third quarter. Victory Capital Management Inc. now owns 950,549 shares of the financial services provider’s stock worth $46,311,000 after acquiring an additional 41,769 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its position in shares of Lakeland Financial Corporation by 13.2% during the second quarter. Goldman Sachs Group Inc. now owns 912,929 shares of the financial services provider’s stock worth $41,885,000 after acquiring an additional 106,673 shares during the last quarter. 69.42% of the stock is currently owned by institutional investors.

About Lakeland Financial Corporation

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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