Lakeland Financial (NASDAQ:LKFN) Price Target Raised to $64.00

Key Points

• Keefe, Bruyette & Woods raised Lakeland Financial’s price target from $63 to $64 while maintaining a “market perform” rating, implying 5.59% potential upside. The broader analyst consensus remains “Hold,” with an average target of $66.
• Lakeland Financial reported strong third-quarter results, with EPS of $1.14 exceeding estimates and revenue rising 5.8% year over year to $73 million. Net income reached a record $28.9 million, supported by loan growth and an improved net interest margin.
• Shares fell 0.9% to $60.61, while recent analyst actions included downgrades from Wall Street Zen and Weiss Ratings. Institutional investors own approximately 81.15% of the company, and Lakeland approved a $0.52 quarterly dividend.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) had its price objective increased by investment analysts at Keefe, Bruyette & Woods from $63.00 to $64.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a "market perform" rating on the financial services provider's stock. Keefe, Bruyette & Woods's target price would indicate a potential upside of 5.59% from the company's previous close.

Other equities analysts also recently issued reports about the stock. Wall Street Zen downgraded shares of Lakeland Financial from a "hold" rating to a "sell" rating in a research note on Sunday, August 9th. Weiss Ratings lowered shares of Lakeland Financial from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, July 29th. One analyst has rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $66.00.

Lakeland Financial Stock Down 0.9%

LKFN traded down $0.56 during trading on Tuesday, reaching $60.61. The company's stock had a trading volume of 103,310 shares, compared to its average volume of 188,153. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 13.92 and a beta of 0.77. The firm has a fifty day simple moving average of $59.16 and a two-hundred day simple moving average of $59.82. Lakeland Financial has a 1 year low of $54.36 and a 1 year high of $64.55.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last posted its quarterly earnings results on Monday, October 26th. The financial services provider reported $1.14 EPS for the quarter, beating the consensus estimate of $1.09 by $0.05. The firm had revenue of $73.00 million during the quarter, compared to analysts' expectations of $73.74 million. Lakeland Financial had a return on equity of 14.67% and a net margin of 26.04%. The business's revenue for the quarter was up 5.8% on a year-over-year basis. During the same quarter last year, the firm earned $1.03 earnings per share. As a group, equities analysts forecast that Lakeland Financial will post 4.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Lakeland Financial

A number of hedge funds have recently modified their holdings of LKFN. Global Retirement Partners LLC purchased a new stake in Lakeland Financial in the 2nd quarter valued at about $38,000. Sterling Capital Management LLC boosted its stake in Lakeland Financial by 176.3% during the third quarter. Sterling Capital Management LLC now owns 688 shares of the financial services provider's stock worth $40,000 after buying an additional 439 shares during the period. Allworth Financial LP purchased a new position in Lakeland Financial during the second quarter worth about $41,000. Integrated Wealth Concepts LLC acquired a new stake in shares of Lakeland Financial during the second quarter valued at about $41,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Lakeland Financial by 40.5% during the fourth quarter. Rockefeller Capital Management L.P. now owns 729 shares of the financial services provider's stock valued at $42,000 after acquiring an additional 210 shares during the last quarter. 81.15% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Lakeland Financial

Here are the key news stories impacting Lakeland Financial this week:

• Positive Sentiment: LKFN reported record third-quarter net income of $28.9 million, up 9% year over year, while diluted EPS rose 11% to a record $1.14. EPS exceeded analyst expectations of $1.08-$1.09. Lakeland Financial Reports Record Third Quarter Performance
• Positive Sentiment: Revenue increased approximately 6% to $73.0 million, driven by 8% growth in net interest income to $60.7 million. Net interest margin expanded to 3.58% from 3.50%, signaling improved profitability. Lakeland Financial Third Quarter Performance
• Positive Sentiment: Loans grew 8% year over year to $5.68 billion, while core deposits rose 3% to $6.05 billion. The board also approved a quarterly dividend of $0.52 per share, and the company repurchased about $2.4 million of stock. Lakeland Financial Reports Record Q3 Net Income
• Positive Sentiment: The stock crossed above its 200-day moving average, a technical signal that can attract momentum-oriented investors. Shares Cross Above 200-Day Moving Average
• Neutral Sentiment: Revenue fell modestly short of the $73.74 million consensus estimate despite year-over-year growth, which may temper the positive earnings reaction.
• Negative Sentiment: Recent disclosures cited insider selling, with no reported insider purchases over the past six months. While not necessarily indicative of weakening fundamentals, the activity can weigh on investor sentiment.

Lakeland Financial Company Profile

Lakeland Financial Corporation is a bank holding company headquartered in Warsaw, Indiana. Through its principal subsidiary, Lake City Bank, the company provides banking and financial services to businesses, individuals, families and nonprofit organizations.

Lake City Bank's services include commercial and consumer lending, residential mortgages, deposit accounts, treasury management, online and mobile banking, trust and investment management, and other wealth management services. Its commercial banking activities serve companies across a range of industries, while its consumer offerings include personal checking, savings, home lending and other credit products.

Founded in 1872, Lake City Bank has a long history of serving communities in Indiana.

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