Wall Street analysts predict that Lakeland Financial Co. (NASDAQ:LKFN) will report earnings per share of $0.78 for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for Lakeland Financial’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.80. Lakeland Financial posted earnings per share of $0.62 in the same quarter last year, which would suggest a positive year-over-year growth rate of 25.8%. The firm is scheduled to report its next earnings report on Wednesday, October 24th.
According to Zacks, analysts expect that Lakeland Financial will report full year earnings of $3.06 per share for the current financial year, with EPS estimates ranging from $3.02 to $3.13. For the next financial year, analysts expect that the company will post earnings of $3.27 per share, with EPS estimates ranging from $3.20 to $3.41. Zacks’ EPS calculations are an average based on a survey of research analysts that follow Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Wednesday, July 25th. The financial services provider reported $0.78 EPS for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.04. The business had revenue of $47.23 million during the quarter, compared to analyst estimates of $47.05 million. Lakeland Financial had a return on equity of 14.83% and a net margin of 29.95%.
Lakeland Financial stock opened at $48.40 on Friday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of 20.25, a price-to-earnings-growth ratio of 1.55 and a beta of 0.76. Lakeland Financial has a 12 month low of $45.01 and a 12 month high of $52.43. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.99 and a quick ratio of 0.99.
In related news, Director Emily E. Pichon sold 500 shares of Lakeland Financial stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $50.85, for a total value of $25,425.00. Following the completion of the sale, the director now owns 15,363 shares of the company’s stock, valued at $781,208.55. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Batty Jill A. De sold 1,800 shares of Lakeland Financial stock in a transaction on Monday, September 10th. The stock was sold at an average price of $48.81, for a total value of $87,858.00. Following the completion of the sale, the insider now directly owns 10,386 shares of the company’s stock, valued at approximately $506,940.66. The disclosure for this sale can be found here. Insiders sold 2,600 shares of company stock valued at $128,298 in the last ninety days. 4.40% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently modified their holdings of the stock. United Services Automobile Association bought a new stake in shares of Lakeland Financial in the second quarter worth $202,000. A.R.T. Advisors LLC purchased a new position in Lakeland Financial during the first quarter valued at $282,000. Dynamic Technology Lab Private Ltd lifted its position in Lakeland Financial by 45.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 6,260 shares of the financial services provider’s stock valued at $290,000 after purchasing an additional 1,951 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in Lakeland Financial by 60.0% during the first quarter. Xact Kapitalforvaltning AB now owns 8,530 shares of the financial services provider’s stock valued at $394,000 after purchasing an additional 3,200 shares in the last quarter. Finally, BlueMountain Capital Management LLC lifted its position in Lakeland Financial by 52.0% during the second quarter. BlueMountain Capital Management LLC now owns 10,369 shares of the financial services provider’s stock valued at $500,000 after purchasing an additional 3,547 shares in the last quarter. 71.93% of the stock is owned by institutional investors.
About Lakeland Financial
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.
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