Raymond James Gives Lakeland Financial (NASDAQ:LKFN) a Lower Rating. Drops its “Outperform” Rating


Lakeland Financial (NASDAQ:LKFN) Receives a Downgrade

Raymond James has cut the rating for shares of Lakeland Financial (NASDAQ:LKFN) to a solid “Mkt Perform” in an analyst research report distributed on 17 December. LKFN’s previous rating by the firm was a “Outperform”.

From a total of 4 analysts covering Lakeland Financial (NASDAQ:LKFN) stock, 2 rate it a ”Buy”, 0 a “Sell”, and 2 a ”Hold”. This means that 50% of the ratings are positive. Lakeland Financial was the topic of 2 analyst reports since July 28, 2015 according to the firm StockzIntelligence Inc. FIG Partners downgraded shares on October 27 to “Market Perform” rating.

Approximately 31,364 shares of stock traded hands. Lakeland Financial Corporation (NASDAQ:LKFN) has risen 21.50% since May 14, 2015 and is uptrending. It has outperformed by 23.76% the S&P500.

The overall sentiment of institutions has decreased to 0.96 in Q2 2015. Its down 0.27, from 1.23 in 2015Q2. The ratio worsened, as 10 institutions have sold all the shares of Lakeland Financial Corporation that they owned while 39 funds have taken shares off the table. 7 funds have purchased shares for the first time while 40 added to their positions. These institutions now hold 11.35 million shares or 4.29% more than the 10.88 million shares they owned in 2015Q2.

The Fund Monarch Capital Management Inc currently is holding shares equating to 2.95% of its total portfolio in Lakeland Financial Corporation representing a total of 160,565 shares. Another fund,Neumeier Poma Investment Counsel Llc, is holding a total of 251,635 shares equating to 2.15% of their holdings. Additionally, Dean Capital Management has a 27,081 share stake in Lakeland Financial Corporation which represents 1.7% of their total portfolio. The Fund, Opus Capital Group Llc, based out of Ohio, has also built up a stake in the stock, which represents a total of 1.45% of their total portfolio. Finally Walthausen & Co. Llc, a fund which is based in the state of New York reported a total holdings of 359,033 shares.

Insider activity is a very important aspect to track on any stock. Going back to March 6, 2015, shareholders of Lakeland Financial Corporation have witnessed 0 buys, and a total of 3 selling transactions equating to a net activity of approximately $55,309 . Ottinger Eric H sold 500 shares worth approximately $20,625. Pichon Emily E sold 600 shares worth approximately $24,600. Steiner Jonathan P sold 238 shares worth approximately $10,084. De Batty Jill A sold 300 shares worth approximately $11,733. The company insider Niemier Charles E bought 619 shares worth $24,239.

Lakeland Financial Corporation is a bank holding company. The company has a market cap of $806.15 million. The Company, through its wholly owned subsidiary, Lake City Bank provides an array of services and products throughout its Northern and Central Indiana markets. It has 17.69 P/E ratio. The Firm offers commercial and consumer banking services, as well as trust and wealth management, brokerage, and treasury management commercial services.

According to Zacks Investment Research, “LAKELAND FINANCIAL CORP. is a bank holding company engaged in general banking business.”