Stephens analyst Terry McEvoy raised the firm’s price target on Lakeland Financial to $70 from $67 and keeps an Equal Weight rating on the shares. Operating earnings were ahead of consensus in Q4, with an “unexpected” quarter-over-quarter expansion in the net interest margin contributing to the upside, the analyst tells investors. The firm sees mid-single-digit loan growth and a stable net interest margin contributing to a higher net interest income run-rate, the analyst added.
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Read More on LKFN:
- Lakeland Financial Executives Share Investor Meeting Materials
- Lakeland Financial Reports Annual Net Income of $93.8 Million and 9% Annualized Average Loan Growth
- Lakeland Financial reports Q4 core operational EPS 98c, consensus 89c
- Lakeland Financial (LKFN) Q4 Earnings Cheat Sheet
- Lake City Bank Parent Announces 4% Increase in Quarterly Dividend
