Brokerages Anticipate Lakeland Financial Co. (LKFN) to Announce $0.81 Earnings Per Share
Equities analysts expect Lakeland Financial Co. (NASDAQ:LKFN) to announce earnings of $0.81 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for Lakeland Financial’s earnings. The highest EPS estimate is $0.84 and the lowest is $0.78. Lakeland Financial reported earnings of $0.78 per share in the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The company is expected to issue its next earnings report on Wednesday, July 24th.
On average, analysts expect that Lakeland Financial will report full year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.21 to $3.40. For the next fiscal year, analysts anticipate that the company will report earnings of $3.46 per share, with EPS estimates ranging from $3.30 to $3.60. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.84 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.03. Lakeland Financial had a return on equity of 16.34% and a net margin of 33.75%. The firm had revenue of $49.73 million for the quarter, compared to the consensus estimate of $49.25 million.
Shares of Lakeland Financial stock traded down $0.86 during midday trading on Friday, hitting $43.95. The company had a trading volume of 76,518 shares, compared to its average volume of 52,512. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.06. The company has a market capitalization of $1.15 billion, a P/E ratio of 14.04, a PEG ratio of 1.36 and a beta of 0.92. Lakeland Financial has a 52-week low of $37.79 and a 52-week high of $51.25.
The business also recently declared a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Thursday, April 25th were paid a $0.30 dividend. The ex-dividend date was Wednesday, April 24th. This represents a $1.20 annualized dividend and a dividend yield of 2.73%. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.26. Lakeland Financial’s dividend payout ratio is presently 38.34%.
In related news, insider Eric H. Ottinger sold 2,276 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $47.90, for a total value of $109,020.40. Following the sale, the insider now owns 27,900 shares in the company, valued at approximately $1,336,410. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Batty Jill A. De sold 4,200 shares of the company’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $48.00, for a total value of $201,600.00. Following the completion of the sale, the insider now owns 6,186 shares in the company, valued at approximately $296,928. The disclosure for this sale can be found here. Corporate insiders own 4.60% of the company’s stock.
Several institutional investors have recently bought and sold shares of LKFN. Cresset Asset Management LLC bought a new position in Lakeland Financial in the 1st quarter valued at approximately $25,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Lakeland Financial in the 1st quarter valued at approximately $35,000. Advisor Group Inc. lifted its position in Lakeland Financial by 264.7% in the 1st quarter. Advisor Group Inc. now owns 795 shares of the financial services provider’s stock valued at $36,000 after acquiring an additional 577 shares in the last quarter. Quantamental Technologies LLC bought a new position in Lakeland Financial in the 4th quarter valued at approximately $48,000. Finally, Bank of Montreal Can lifted its position in Lakeland Financial by 316.7% in the 1st quarter. Bank of Montreal Can now owns 1,425 shares of the financial services provider’s stock valued at $64,000 after acquiring an additional 1,083 shares in the last quarter. Institutional investors own 73.51% 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. 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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