DA Davidson Initiates Coverage on Lakeland Financial Corporation to Neutral

DA Davidson Initiates Coverage on Lakeland Financial Corporation(NASDAQ:LKFN). The shares have been rated Neutral. The rating by DA Davidson was issued on Jul 21, 2016.

In a different note, On Jun 13, 2016, Stephens & Co. said it Downgrades its rating on Lakeland Financial Corporation. The shares have been rated ‘Equal-weight’ by the firm.

Lakeland Financial Corporation (LKFN) made into the market gainers list on Wednesdays trading session with the shares advancing 0.42% or 0.21 points. Due to strong positive momentum, the stock ended at $49.78, which is also near the day’s high of $50.03. The stock began the session at $50 and the volume stood at 48,325 shares. The 52-week high of the shares is $50.03 and the 52 week low is $39.01. The company has a current market capitalization of $831 M and it has 1,66,96,833 shares in outstanding.

Lakeland Financial Corporation(LKFN) last announced its earnings results on Apr 25, 2016 for Fiscal Year 2016 and Q1.Company reported revenue of $36.15M. Analysts had an estimated revenue of $35.75M. Earnings per share were $0.73. Analysts had estimated an EPS of $0.70.

Several Insider Transactions has been reported to the SEC. On Jun 17, 2016, Brian J Smith (director) purchased 107 shares at $46.93 per share price.Also, On May 6, 2016, Charles E Niemier (director) purchased 612 shares at $47.33 per share price.On Feb 26, 2016, M Scott Welch (director) purchased 40 shares at $41.40 per share price, according to the Form-4 filing with the securities and exchange commission.

Lakeland Financial Corporation (Lakeland Financial) is a bank holding company. The Company through its wholly owned subsidiary Lake City Bank provides an array of products and services throughout its Northern and Central Indiana markets. The Company offers commercial and consumer banking services as well as trust and wealth management brokerage and treasury management commercial services. The Company serves a range of industries including among others manufacturing agriculture construction retail services healthcare and transportation. The Company provides commercial retail trust and investment management services to its customers. The Bank’s activities cover all phases of commercial banking including deposit products commercial and consumer lending retail and merchant credit card services corporate treasury management services and wealth advisory trust and brokerage services.

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