Price Action To Observe: What’s Propelling Lakeland Financial Corporation to Reach 52-Week High?

Price Action To Observe: What's Propelling Lakeland Financial Corporation to Reach 52 Week High?

The stock of Lakeland Financial Corporation (NASDAQ:LKFN) hit a new 52-week high and has $52.41 target or 24.00% above today’s $42.27 share price. The 7 months bullish chart indicates low risk for the $1.10 billion company. The 1-year high was reported on Nov, 11 by If the $52.41 price target is reached, the company will be worth $264.00M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 93,890 shares traded hands or 59.77% up from the average. Lakeland Financial Corporation (NASDAQ:LKFN) has risen 37.91% since April 11, 2016 and is uptrending. It has outperformed by 31.76% the S&P500.

Lakeland Financial Corporation (NASDAQ:LKFN) Ratings Coverage

Out of 5 analysts covering Lakeland Financial (NASDAQ:LKFN), 0 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 0 are positive. Lakeland Financial has been the topic of 6 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The firm has “Market Perform” rating by Wood given on Tuesday, August 9. DA Davidson initiated the stock with “Neutral” rating in Thursday, July 21 report. Stephens downgraded the stock to “Equal-Weight” rating in Monday, June 13 report. On Thursday, December 17 the stock rating was downgraded by Raymond James to “Mkt Perform”. FIG Partners downgraded Lakeland Financial Corporation (NASDAQ:LKFN) on Tuesday, October 27 to “Market Perform” rating.

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

Insitutional Activity: The institutional sentiment is 1 in Q2 2016. Its the same as in 2016Q1. The ratio is flat, as 9 funds sold all Lakeland Financial Corporation shares owned while 38 reduced positions. only 7 funds bought stakes while 40 increased positions. They now own 11.12 million shares or 0.45% less from 11.17 million shares in 2016Q1.
California Public Employees Retirement Systems accumulated 44,500 shares or 0% of the stock. Schwab Charles Inc holds 60,519 shares or 0% of its portfolio. Banc Funds Co Limited Com accumulated 15,092 shares or 0.04% of the stock. Kennedy Capital Management Incorporated has 0.07% invested in the company for 70,320 shares. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 800 shares in the company. Columbia Wanger Asset Limited Liability, a Illinois-based fund reported 317,473 shares. Voya Investment Mgmt Ltd holds 0% of its portfolio in Lakeland Financial Corporation (NASDAQ:LKFN) for 10,394 shares. Manufacturers Life Ins The reported 10,592 shares or 0% of all its holdings. Gsa Cap Prtnrs Limited Liability Partnership has 8,500 shares for 0.02% of their US portfolio. Alliancebernstein Lp holds 0% or 26,845 shares in its portfolio. Keybank Association Oh has 19,780 shares for 0.01% of their US portfolio. Credit Suisse Ag holds 0% of its portfolio in Lakeland Financial Corporation (NASDAQ:LKFN) for 18,639 shares. New York State Common Retirement Fund reported 21,100 shares or 0% of all its holdings. Schroder Invest Management Group Inc last reported 200,400 shares in the company. Tower Ltd Liability Company (Trc) has 713 shares for 0% of their US portfolio.

Insider Transactions: Since August 5, 2016, the stock had 3 buys, and 5 insider sales for $1.31 million net activity. 4,263 shares with value of $150,220 were sold by DEARDORFF KEVIN L on Friday, August 12. 1,000 shares were sold by PICHON EMILY E, worth $35,550 on Tuesday, August 23. KUBACKI MICHAEL L sold $788,964 worth of stock or 22,500 shares. The insider NIEMIER CHARLES E bought $29,358. $4,987 worth of Lakeland Financial Corporation (NASDAQ:LKFN) was bought by Smith Brian J on Friday, August 5. $98,196 worth of Lakeland Financial Corporation (NASDAQ:LKFN) was sold by Ottinger Eric H on Friday, October 28. $299,300 worth of Lakeland Financial Corporation (NASDAQ:LKFN) was sold by FINDLAY DAVID M on Friday, October 28.

LKFN Company Profile

Lakeland Financial Corporation (Lakeland Financial), incorporated on February 8, 1983, is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of services and products throughout its Northern and Central Indiana markets. The Firm offers commercial and consumer banking services, as well as trust and wealth management, brokerage, and treasury management commercial services. The Firm serves a range of industries, including, among others, commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and healthcare. 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. The Bank has over 50 offices in over 10 counties in Northern and Central Indiana.

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