Equities analysts predict that Lakeland Financial Corporation (NASDAQ:LKFN) will post $43.91 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for Lakeland Financial Corporation’s earnings. The lowest sales estimate is $43.30 million and the highest is $44.30 million. Lakeland Financial Corporation reported sales of $38.74 million during the same quarter last year, which indicates a positive year-over-year growth rate of 13.3%. The business is scheduled to issue its next earnings results on Tuesday, October 24th.

On average, analysts expect that Lakeland Financial Corporation will report full year sales of $43.91 million for the current financial year, with estimates ranging from $169.90 million to $173.80 million. For the next fiscal year, analysts anticipate that the firm will report sales of $186.70 million per share, with estimates ranging from $183.61 million to $191.90 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Lakeland Financial Corporation.

Lakeland Financial Corporation (NASDAQ:LKFN) last released its earnings results on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.05. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. The firm had revenue of $42.61 million for the quarter, compared to analyst estimates of $41.86 million.

LKFN has been the topic of a number of recent analyst reports. DA Davidson raised Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Thursday, May 18th. Zacks Investment Research raised Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Tuesday, June 27th. BidaskClub raised Lakeland Financial Corporation from a “sell” rating to a “hold” rating in a research note on Friday, June 9th. Finally, Keefe, Bruyette & Woods set a $43.00 price objective on Lakeland Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, April 18th.

In other Lakeland Financial Corporation news, insider Eric H. Ottinger sold 1,899 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $46.28, for a total transaction of $87,885.72. Following the completion of the sale, the insider now directly owns 21,500 shares of the company’s stock, valued at approximately $995,020. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Batty Jill A. De sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total value of $25,566.00. Following the sale, the insider now directly owns 9,232 shares of the company’s stock, valued at $393,375.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,999 shares of company stock worth $220,777. 5.00% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the company. Franklin Resources Inc. raised its stake in shares of Lakeland Financial Corporation by 1.7% in the second quarter. Franklin Resources Inc. now owns 1,948,115 shares of the financial services provider’s stock worth $89,380,000 after buying an additional 31,765 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Lakeland Financial Corporation by 2.4% in the second quarter. Vanguard Group Inc. now owns 1,081,120 shares of the financial services provider’s stock worth $49,602,000 after buying an additional 25,465 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Lakeland Financial Corporation by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock worth $43,992,000 after buying an additional 28,198 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Lakeland Financial Corporation by 0.8% in the first quarter. Victory Capital Management Inc. now owns 911,935 shares of the financial services provider’s stock worth $39,323,000 after buying an additional 7,209 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in shares of Lakeland Financial Corporation by 12.5% in the first quarter. Goldman Sachs Group Inc. now owns 806,256 shares of the financial services provider’s stock worth $34,766,000 after buying an additional 89,271 shares in the last quarter. 69.96% of the stock is owned by hedge funds and other institutional investors.

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Shares of Lakeland Financial Corporation (NASDAQ LKFN) opened at 43.69 on Friday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 19.59 and a beta of 0.83. Lakeland Financial Corporation has a 52-week low of $33.98 and a 52-week high of $48.88. The stock’s 50 day moving average price is $45.89 and its 200-day moving average price is $44.81.

The company also recently declared a quarterly dividend, which was paid on Monday, August 7th. Investors of record on Tuesday, July 25th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date was Friday, July 21st. Lakeland Financial Corporation’s dividend payout ratio (DPR) is currently 39.46%.

About Lakeland Financial Corporation

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.

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Earnings History and Estimates for Lakeland Financial Corporation (NASDAQ:LKFN)

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