Lakeland Financial (NASDAQ:LKFN) will announce its earnings results before the market opens on Friday, October 25th. Analysts expect the company to announce earnings of $0.78 per share for the quarter.
Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.85 EPS for the quarter, topping the consensus estimate of $0.81 by $0.04. The firm had revenue of $50.00 million for the quarter, compared to the consensus estimate of $49.78 million. Lakeland Financial had a net margin of 33.35% and a return on equity of 16.03%. On average, analysts expect Lakeland Financial to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.
Shares of LKFN opened at $45.69 on Wednesday. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.98 and a quick ratio of 0.98. The company has a market capitalization of $1.15 billion, a PE ratio of 14.60, a price-to-earnings-growth ratio of 1.39 and a beta of 0.94. The company’s fifty day moving average price is $43.86 and its 200 day moving average price is $45.20. Lakeland Financial has a one year low of $37.79 and a one year high of $49.20.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 5th. Shareholders of record on Friday, October 25th will be given a $0.30 dividend. The ex-dividend date of this dividend is Thursday, October 24th. This represents a $1.20 annualized dividend and a yield of 2.63%. Lakeland Financial’s dividend payout ratio is 38.34%.
In other Lakeland Financial news, Director Michael L. Kubacki sold 10,944 shares of the firm’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $43.23, for a total value of $473,109.12. Following the sale, the director now directly owns 204,934 shares in the company, valued at approximately $8,859,296.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristin Pruitt sold 1,600 shares of the firm’s stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $46.00, for a total transaction of $73,600.00. Following the completion of the sale, the insider now owns 7,494 shares in the company, valued at $344,724. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 11,000 shares of company stock worth $468,290 and sold 16,914 shares worth $738,349. Company insiders own 4.60% of the company’s stock.
Several research firms have issued reports on LKFN. ValuEngine lowered shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub upgraded shares of Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Friday, October 18th. Finally, Zacks Investment Research lowered shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research report on Tuesday.
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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