Lakeland Financial Co. (NASDAQ:LKFN) declared a quarterly dividend on Tuesday, January 14th, Zacks reports. Shareholders of record on Saturday, January 25th will be paid a dividend of 0.30 per share by the financial services provider on Wednesday, February 5th. This represents a $1.20 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend is Friday, January 24th.

Lakeland Financial has increased its dividend by an average of 18.2% annually over the last three years and has raised its dividend every year for the last 7 years. Lakeland Financial has a dividend payout ratio of 36.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Lakeland Financial to earn $3.12 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 38.5%.

Shares of LKFN stock opened at $48.46 on Thursday. The stock’s 50-day moving average is $48.40 and its two-hundred day moving average is $45.66. The firm has a market cap of $1.25 billion, a price-to-earnings ratio of 15.48 and a beta of 0.96. Lakeland Financial has a 1 year low of $41.26 and a 1 year high of $50.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 0.96 and a current ratio of 0.96.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.05. Lakeland Financial had a return on equity of 15.57% and a net margin of 33.08%. The company had revenue of $50.31 million for the quarter, compared to analyst estimates of $48.43 million. As a group, research analysts predict that Lakeland Financial will post 3.27 EPS for the current year.

In other Lakeland Financial news, EVP Eric H. Ottinger sold 2,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $49.02, for a total value of $98,040.00. Following the transaction, the executive vice president now owns 25,000 shares in the company, valued at approximately $1,225,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 4.60% of the stock is currently owned by insiders.

A number of equities analysts recently issued reports on the company. Zacks Investment Research lowered Lakeland Financial from a “hold” rating to a “sell” rating in a report on Tuesday. BidaskClub downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Tuesday, December 31st. Finally, ValuEngine upgraded shares of Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th.

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.

Further Reading: Diversification

Dividend History for Lakeland Financial (NASDAQ:LKFN)

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