Stephens & Co. Downgrades Lakeland Financial Corporation to Equal-weight

Brokerage firm Stephens & Co. Downgrades its rating on Lakeland Financial Corporation(NASDAQ:LKFN). The shares have been rated Equal-weight. Previously, the analysts had a Overweight rating on the shares. The rating by Stephens & Co. was issued on Jun 13, 2016.

Lakeland Financial Corporation (LKFN) shares turned negative on Fridays trading session with the shares closing down -0.34 points or -0.73% at a volume of 1,42,927. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $47.26. The peak price level was also seen at $47.26 while the days lowest was $46.09. Finally the shares closed at $46.51. The 52-week high of the shares is $49.91 while the 52-week low is $39.01. According to the latest information available, the market cap of the company is $777 M.

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 May 6, 2016, Charles E Niemier (director) purchased 612 shares at $47.33 per share price.Also, On Mar 16, 2016, Brian J Smith (director) purchased 112 shares at $44.77 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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