Lakeland Financial (LKFN) Expected to Announce Quarterly Earnings on Friday

Lakeland Financial (NASDAQ:LKFN) will likely be issuing its quarterly earnings data before the market opens on Friday, January 24th. Analysts expect the company to announce earnings of $0.89 per share and revenue of $62,490.00 billion for the quarter.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The business had revenue of $106.94 million for the quarter, compared to the consensus estimate of $59.90 million. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. During the same quarter in the prior year, the business posted $0.98 earnings per share. On average, analysts expect Lakeland Financial to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Lakeland Financial Stock Down 1.0 %

Shares of Lakeland Financial stock opened at $67.44 on Thursday. The firm’s 50-day moving average price is $71.08 and its two-hundred day moving average price is $67.58. Lakeland Financial has a 12-month low of $57.45 and a 12-month high of $78.61. The company has a market capitalization of $1.72 billion, a price-to-earnings ratio of 17.52 and a beta of 0.69.

Lakeland Financial Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Saturday, January 25th will be given a dividend of $0.50 per share. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.48. This represents a $2.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date is Friday, January 24th. Lakeland Financial’s dividend payout ratio is currently 49.87%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $73.50, for a total value of $290,986.50. Following the sale, the executive vice president now owns 32,475 shares in the company, valued at approximately $2,386,912.50. The trade was a 10.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders have sold 4,150 shares of company stock worth $305,327 over the last quarter. Corporate insiders own 3.30% of the company’s stock.

About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.