Dimensional Fund Advisors LP trimmed its position in shares of Lakeland Financial Co. (NASDAQ:LKFN) by 0.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,011,116 shares of the financial services provider’s stock after selling 6,766 shares during the period. Dimensional Fund Advisors LP owned about 4.01% of Lakeland Financial worth $49,261,000 as of its most recent SEC filing.
Other large investors have also recently modified their holdings of the company. Wells Fargo & Company MN grew its holdings in Lakeland Financial by 7.6% during the 2nd quarter. Wells Fargo & Company MN now owns 79,494 shares of the financial services provider’s stock valued at $3,647,000 after purchasing an additional 5,634 shares during the last quarter. Franklin Resources Inc. grew its holdings in Lakeland Financial by 1.7% during the 2nd quarter. Franklin Resources Inc. now owns 1,948,115 shares of the financial services provider’s stock valued at $89,380,000 after purchasing an additional 31,765 shares during the last quarter. Vanguard Group Inc. grew its holdings in Lakeland Financial by 2.4% during the 2nd quarter. Vanguard Group Inc. now owns 1,081,120 shares of the financial services provider’s stock valued at $49,602,000 after purchasing an additional 25,465 shares during the last quarter. Menta Capital LLC bought a new position in Lakeland Financial during the 2nd quarter valued at about $1,051,000. Finally, Stifel Financial Corp grew its holdings in Lakeland Financial by 15.9% during the 2nd quarter. Stifel Financial Corp now owns 299,715 shares of the financial services provider’s stock valued at $13,755,000 after purchasing an additional 41,061 shares during the last quarter. Institutional investors own 69.96% of the company’s stock.
Lakeland Financial Co. (NASDAQ:LKFN) opened at $48.66 on Friday. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $1,212.88, a PE ratio of 20.97, a price-to-earnings-growth ratio of 1.84 and a beta of 0.83. Lakeland Financial Co. has a one year low of $39.68 and a one year high of $52.43.
Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02. The business had revenue of $44.12 million for the quarter, compared to the consensus estimate of $43.91 million. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. sell-side analysts anticipate that Lakeland Financial Co. will post 2.39 earnings per share for the current fiscal year.
LKFN has been the topic of a number of research analyst reports. ValuEngine downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Thursday, November 16th. Keefe, Bruyette & Woods restated a “hold” rating and issued a $50.00 target price on shares of Lakeland Financial in a research note on Friday, December 22nd. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research note on Saturday, October 28th. Finally, BidaskClub downgraded shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Lakeland Financial has a consensus rating of “Buy” and an average price target of $51.00.
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About Lakeland Financial
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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