Equities analysts expect Lakeland Financial Co. (NASDAQ:LKFN) to post earnings of $0.86 per share for the current fiscal quarter, Zacks reports. Two analysts have provided estimates for Lakeland Financial’s earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.91. Lakeland Financial reported earnings of $0.67 per share during the same quarter last year, which suggests a positive year over year growth rate of 28.4%. The business is scheduled to report its next earnings results before the market opens on Monday, April 26th.
On average, analysts expect that Lakeland Financial will report full year earnings of $3.26 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.39. For the next fiscal year, analysts forecast that the company will report earnings of $3.28 per share, with EPS estimates ranging from $3.03 to $3.45. Zacks’ earnings per share calculations are an average based on a survey of research analysts that that provide coverage for Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Sunday, January 24th. The financial services provider reported $0.97 earnings per share for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16. Lakeland Financial had a return on equity of 13.31% and a net margin of 33.90%. The company had revenue of $56.50 million for the quarter, compared to the consensus estimate of $52.25 million.
In other news, Director Michael L. Kubacki sold 50,490 shares of Lakeland Financial stock in a transaction dated Friday, January 29th. The shares were sold at an average price of $59.12, for a total transaction of $2,984,968.80. Following the completion of the sale, the director now directly owns 181,725 shares in the company, valued at $10,743,582. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Brian J. Smith sold 10,076 shares of the firm’s stock in a transaction that occurred on Wednesday, February 10th. The stock was sold at an average price of $65.16, for a total transaction of $656,552.16. Following the completion of the sale, the director now directly owns 25,455 shares in the company, valued at $1,658,647.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 92,418 shares of company stock valued at $5,735,529. Company insiders own 4.80% of the company’s stock.
Large investors have recently modified their holdings of the stock. BlackRock Inc. boosted its holdings in shares of Lakeland Financial by 4.3% during the fourth quarter. BlackRock Inc. now owns 1,838,844 shares of the financial services provider’s stock valued at $98,525,000 after acquiring an additional 76,329 shares during the period. Victory Capital Management Inc. boosted its holdings in Lakeland Financial by 5.6% in the fourth quarter. Victory Capital Management Inc. now owns 1,323,548 shares of the financial services provider’s stock valued at $70,916,000 after acquiring an additional 70,475 shares during the last quarter. Copeland Capital Management LLC boosted its holdings in Lakeland Financial by 15.4% during the fourth quarter. Copeland Capital Management LLC now owns 459,142 shares of the financial services provider’s stock worth $24,601,000 after buying an additional 61,208 shares during the last quarter. Neumeier Poma Investment Counsel LLC raised its position in Lakeland Financial by 25.9% in the 4th quarter. Neumeier Poma Investment Counsel LLC now owns 438,382 shares of the financial services provider’s stock valued at $23,489,000 after buying an additional 90,145 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Lakeland Financial by 2.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 382,372 shares of the financial services provider’s stock worth $20,488,000 after acquiring an additional 8,531 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.
NASDAQ LKFN traded down $1.12 during midday trading on Thursday, hitting $67.95. The company had a trading volume of 670 shares, compared to its average volume of 111,746. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.13. Lakeland Financial has a twelve month low of $34.24 and a twelve month high of $77.05. The company has a market capitalization of $1.75 billion, a PE ratio of 21.65 and a beta of 0.93. The firm has a 50-day moving average price of $70.97 and a 200-day moving average price of $59.01.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 5th. Stockholders of record on Sunday, April 25th will be paid a dividend of $0.34 per share. The ex-dividend date is Thursday, April 22nd. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.00%. Lakeland Financial’s dividend payout ratio is currently 40.24%.
About Lakeland Financial
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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