Lakeland Financial Corp (LKFN) Receives a Hold from Boenning & Scattergood


Boenning & Scattergood analyst Scott Beury maintained a Hold rating on Lakeland Financial Corp (LKFN) today. The company’s shares closed on Friday at $45.04.

Beury wrote:

“We believe Lakeland Financial Corporation’s impressive combination of top-tier efficiency, steady organic growth, and proven credit discipline, position the company to continue generating elite return metrics over the long-run. The company focuses on maximizing market share within its legacy northern Indiana markets, while using a gradual branching strategy to expand its presence into larger metro areas such as Fort Wayne and, more recently, Indianapolis. Though management’s conservatism could admittedly limit the company’s ability to generate outsized earnings growth in the near-term, we believe it also provides the long-run benefits of below-industry credit costs and more effective capital deployment, which should benefit “buy and hold” investors through credit cycles.”

According to TipRanks.com, Beury is a 2-star analyst with an average return of 0.2% and a 43.2% success rate. Beury covers the Financial sector, focusing on stocks such as Farmers National Banc Corp Oh, Old National Bancorp Capital, and United Community Financial.

Lakeland Financial Corp has an analyst consensus of Hold.

See today’s analyst top recommended stocks >>

The company has a one-year high of $51.25 and a one-year low of $37.79. Currently, Lakeland Financial Corp has an average volume of 114.6K.

Based on the recent corporate insider activity of 58 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of LKFN in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Lakeland Financial Corp. is a bank holding company, which engages in the provision of banking products and services through its wholly-owned subsidiary Lake City Bank. It includes commercial and consumer banking services, trust and wealth management, brokerage, and treasury management commercial services.

Stay Ahead of Everyone Else

Get The Latest Stock News Alerts