Wall Street brokerages forecast that Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) will report $0.88 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Two analysts have made estimates for Lakeland Financial’s earnings. The lowest EPS estimate is $0.82 and the highest is $0.94. Lakeland Financial reported earnings per share of $0.90 in the same quarter last year, which suggests a negative year over year growth rate of 2.2%. The firm is scheduled to issue its next quarterly earnings results before the market opens on Monday, January 1st.
According to Zacks, analysts expect that Lakeland Financial will report full-year earnings of $3.70 per share for the current fiscal year, with EPS estimates ranging from $3.56 to $3.80. For the next financial year, analysts expect that the firm will report earnings of $3.89 per share, with EPS estimates ranging from $3.85 to $3.95. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN – Get Rating) last released its earnings results on Tuesday, January 25th. The financial services provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Lakeland Financial had a net margin of 40.23% and a return on equity of 14.09%. The business had revenue of $54.72 million for the quarter, compared to analyst estimates of $57.47 million. During the same period in the prior year, the company earned $0.97 earnings per share.
In other Lakeland Financial news, Director Michael L. Kubacki sold 35,597 shares of the company’s stock in a transaction that occurred on Friday, January 28th. The shares were sold at an average price of $78.56, for a total value of $2,796,500.32. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP James Rickard Donovan sold 525 shares of the company’s stock in a transaction that occurred on Tuesday, March 15th. The shares were sold at an average price of $82.00, for a total transaction of $43,050.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 71,521 shares of company stock valued at $5,719,506. 4.00% of the stock is owned by insiders.
Institutional investors have recently added to or reduced their stakes in the business. Pinebridge Investments L.P. acquired a new position in Lakeland Financial in the 4th quarter valued at approximately $96,000. SG Americas Securities LLC acquired a new position in Lakeland Financial in the 3rd quarter valued at approximately $163,000. Raymond James & Associates acquired a new position in shares of Lakeland Financial during the 4th quarter worth $232,000. Gilman Hill Asset Management LLC acquired a new position in shares of Lakeland Financial during the 4th quarter worth $261,000. Finally, Mutual of America Capital Management LLC acquired a new position in shares of Lakeland Financial during the 3rd quarter worth $240,000. Hedge funds and other institutional investors own 81.43% of the company’s stock.
LKFN stock traded down $1.60 on Friday, hitting $76.40. 154,968 shares of the company’s stock traded hands, compared to its average volume of 164,296. Lakeland Financial has a 1-year low of $56.06 and a 1-year high of $85.71. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 20.43 and a beta of 0.73. The stock has a fifty day moving average of $77.20 and a 200-day moving average of $76.93. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.11.
The company also recently declared a quarterly dividend, which will be paid on Thursday, May 5th. Investors of record on Monday, April 25th will be given a $0.40 dividend. The ex-dividend date is Friday, April 22nd. This represents a $1.60 annualized dividend and a dividend yield of 2.09%. Lakeland Financial’s dividend payout ratio (DPR) is presently 42.78%.
Lakeland Financial Company Profile (Get Rating)
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.
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