Equities research analysts expect Lakeland Financial Co. (NASDAQ:LKFN) to report earnings of $0.78 per share for the current quarter, according to Zacks. Four analysts have made 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 during the same quarter last year, which indicates a positive year-over-year growth rate of 25.8%. The business is expected to issue its next quarterly earnings results before the market opens on Thursday, October 25th.
On average, analysts expect that Lakeland Financial will report full-year earnings of $3.06 per share for the current year, with EPS estimates ranging from $3.02 to $3.13. For the next financial year, analysts expect that the company will report earnings of $3.27 per share, with EPS estimates ranging from $3.20 to $3.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side analysts that that provide coverage for Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings data on Wednesday, July 25th. The financial services provider reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.04. Lakeland Financial had a return on equity of 14.83% and a net margin of 29.95%. The firm had revenue of $47.23 million during the quarter, compared to the consensus estimate of $47.05 million.
In other Lakeland Financial news, insider Batty Jill A. De sold 1,800 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $48.81, for a total transaction of $87,858.00. Following the completion of the transaction, the insider now owns 10,386 shares of the company’s stock, valued at $506,940.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Emily E. Pichon sold 500 shares of the firm’s 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 transaction, the director now directly owns 15,363 shares of the company’s stock, valued at approximately $781,208.55. The disclosure for this sale can be found here. Insiders have sold 2,600 shares of company stock valued at $128,298 in the last three months. 4.40% of the stock is currently owned by company insiders.
A number of institutional investors have recently added to or reduced their stakes in LKFN. Millennium Management LLC increased its position in Lakeland Financial by 244.8% during the first quarter. Millennium Management LLC now owns 326,463 shares of the financial services provider’s stock worth $15,092,000 after buying an additional 231,781 shares in the last quarter. BlackRock Inc. increased its position in Lakeland Financial by 12.2% during the first quarter. BlackRock Inc. now owns 1,899,704 shares of the financial services provider’s stock worth $87,823,000 after buying an additional 206,682 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in Lakeland Financial by 14.7% during the second quarter. Massachusetts Financial Services Co. MA now owns 379,786 shares of the financial services provider’s stock worth $18,302,000 after buying an additional 48,807 shares in the last quarter. JPMorgan Chase & Co. increased its position in Lakeland Financial by 46.2% during the first quarter. JPMorgan Chase & Co. now owns 106,666 shares of the financial services provider’s stock worth $4,931,000 after buying an additional 33,711 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in Lakeland Financial by 53.6% during the second quarter. Renaissance Technologies LLC now owns 86,251 shares of the financial services provider’s stock worth $4,156,000 after buying an additional 30,100 shares in the last quarter. 71.92% of the stock is owned by institutional investors.
NASDAQ LKFN traded down $0.75 during mid-day trading on Monday, hitting $44.32. The stock had a trading volume of 168,202 shares, compared to its average volume of 81,058. Lakeland Financial has a 52-week low of $43.41 and a 52-week high of $52.43. The company has a market capitalization of $1.18 billion, a P/E ratio of 18.54, a PEG ratio of 1.52 and a beta of 0.76. The company has a debt-to-equity ratio of 0.42, a current ratio of 0.99 and a quick ratio of 0.99.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 5th. Shareholders of record on Thursday, October 25th will be given a dividend of $0.26 per share. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.10. The ex-dividend date is Wednesday, October 24th. This represents a $1.04 annualized dividend and a yield of 2.35%. Lakeland Financial’s dividend payout ratio (DPR) is presently 16.74%.
Lakeland Financial Company Profile
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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