Brokerages forecast that Lakeland Financial Co. (NASDAQ:LKFN – Get Rating) will post $0.95 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Lakeland Financial’s earnings, with estimates ranging from $0.94 to $0.96. Lakeland Financial also reported earnings of $0.95 per share during the same quarter last year. The business is scheduled to issue its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Lakeland Financial will report full year earnings of $3.94 per share for the current financial year, with EPS estimates ranging from $3.79 to $4.05. For the next year, analysts expect that the company will report earnings of $4.12 per share, with EPS estimates ranging from $4.02 to $4.19. Zacks Investment Research’s EPS averages are an average based on a survey of research firms that follow Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN – Get Rating) last released its quarterly earnings results on Monday, April 25th. The financial services provider reported $0.92 EPS for the quarter, beating the consensus estimate of $0.88 by $0.04. The business had revenue of $55.57 million for the quarter, compared to analyst estimates of $56.46 million. Lakeland Financial had a net margin of 40.82% and a return on equity of 14.41%. During the same period in the prior year, the business earned $0.90 earnings per share.
In other news, SVP James Rickard Donovan sold 525 shares of Lakeland Financial stock in a transaction dated Tuesday, March 15th. The stock was sold at an average price of $82.00, for a total value of $43,050.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Lisa M. O’neill sold 1,250 shares of Lakeland Financial stock in a transaction dated Tuesday, March 15th. The shares were sold at an average price of $82.22, for a total value of $102,775.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,675 shares of company stock worth $219,454. Company insiders own 4.00% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans lifted its position in Lakeland Financial by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 20,589 shares of the financial services provider’s stock worth $1,650,000 after acquiring an additional 139 shares in the last quarter. Personal CFO Solutions LLC raised its position in shares of Lakeland Financial by 4.1% in the 1st quarter. Personal CFO Solutions LLC now owns 4,027 shares of the financial services provider’s stock valued at $294,000 after purchasing an additional 157 shares in the last quarter. Raymond James & Associates raised its position in shares of Lakeland Financial by 6.2% in the 1st quarter. Raymond James & Associates now owns 3,075 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 179 shares in the last quarter. Mutual of America Capital Management LLC raised its position in shares of Lakeland Financial by 5.5% in the 1st quarter. Mutual of America Capital Management LLC now owns 3,646 shares of the financial services provider’s stock valued at $266,000 after purchasing an additional 190 shares in the last quarter. Finally, Advisor Group Holdings Inc. raised its position in shares of Lakeland Financial by 2.9% in the 4th quarter. Advisor Group Holdings Inc. now owns 8,957 shares of the financial services provider’s stock valued at $718,000 after purchasing an additional 250 shares in the last quarter. 80.34% of the stock is currently owned by hedge funds and other institutional investors.
LKFN stock opened at $72.37 on Friday. The company’s 50 day simple moving average is $73.23 and its 200-day simple moving average is $76.56. The firm has a market capitalization of $1.83 billion, a PE ratio of 19.25 and a beta of 0.69. Lakeland Financial has a 12 month low of $56.06 and a 12 month high of $85.71. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.82 and a quick ratio of 0.82.
The company also recently declared a quarterly dividend, which was paid on Thursday, May 5th. Shareholders of record on Monday, April 25th were given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date was Friday, April 22nd. Lakeland Financial’s dividend payout ratio (DPR) is presently 42.55%.
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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