Lakeland Financial Corp. (LKFN) Reaches New 12-Month High at $37.74
Lakeland Financial Corp. (NASDAQ:LKFN) hit a new 52-week high on Monday . The company traded as high as $37.74 and last traded at $35.83, with a volume of 50,734 shares trading hands. The stock had previously closed at $53.27.
A number of brokerages recently weighed in on LKFN. DA Davidson began coverage on shares of Lakeland Financial Corp. in a report on Thursday, July 21st. They issued a “neutral” rating for the company. Zacks Investment Research cut shares of Lakeland Financial Corp. from a “hold” rating to a “sell” rating in a report on Saturday, April 16th. Keefe, Bruyette & Woods lifted their price objective on shares of Lakeland Financial Corp. from $45.00 to $48.00 and gave the company a “market perform” rating in a report on Wednesday, July 27th. Finally, Stephens cut shares of Lakeland Financial Corp. from an “overweight” rating to an “equal weight” rating in a report on Monday, June 13th. Six investment analysts have rated the stock with a hold rating, Lakeland Financial Corp. presently has a consensus rating of “Hold” and an average target price of $47.50.
The stock has a 50-day moving average price of $32.43 and a 200 day moving average price of $30.80. The stock has a market capitalization of $591.81 million and a P/E ratio of 12.34.
Lakeland Financial Corp. (NASDAQ:LKFN) last released its earnings results on Monday, July 25th. The financial services provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.05. Analysts forecast that Lakeland Financial Corp. will post $3.00 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 5th. Shareholders of record on Monday, July 25th were issued a $0.28 dividend. The ex-dividend date was Thursday, July 21st. This represents a $1.12 dividend on an annualized basis and a yield of 2.10%.
A hedge fund recently raised its stake in Lakeland Financial Corp. stock. Victory Capital Management Inc. boosted its position in shares of Lakeland Financial Corp. (NASDAQ:LKFN) by 7.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 610,335 shares of the financial services provider’s stock after buying an additional 43,050 shares during the period. Victory Capital Management Inc. owned approximately 3.69% of Lakeland Financial Corp. worth $28,454,000 as of its most recent filing with the SEC.
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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