Lakeland Financial Corporation (LKFN) Expected to Post Earnings of $0.55 Per Share

Wall Street brokerages forecast that Lakeland Financial Corporation (NASDAQ:LKFN) will post earnings per share (EPS) of $0.55 for the current quarter, according to Zacks. Three analysts have provided estimates for Lakeland Financial Corporation’s earnings. The lowest EPS estimate is $0.53 and the highest is $0.57. Lakeland Financial Corporation posted earnings of $0.51 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 7.8%. The firm is expected to issue its next quarterly earnings results before the market opens on Tuesday, July 25th.

On average, analysts expect that Lakeland Financial Corporation will report full-year earnings of $2.27 per share for the current year, with EPS estimates ranging from $2.24 to $2.32. For the next financial year, analysts expect that the business will post earnings of $2.45 per share, with EPS estimates ranging from $2.38 to $2.56. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Lakeland Financial Corporation.

Lakeland Financial Corporation (NASDAQ:LKFN) last posted its quarterly earnings results on Tuesday, April 25th. The financial services provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. The firm had revenue of $40.32 million during the quarter, compared to analysts’ expectations of $40.29 million. Lakeland Financial Corporation had a net margin of 30.52% and a return on equity of 12.70%.

A number of research firms have issued reports on LKFN. BidaskClub lowered shares of Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Tuesday, June 27th. DA Davidson raised shares of Lakeland Financial Corporation from a “neutral” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Thursday, May 18th. Finally, Keefe, Bruyette & Woods set a $43.00 target price on shares of Lakeland Financial Corporation and gave the company a “hold” rating in a research note on Tuesday, April 18th.

Lakeland Financial Corporation (NASDAQ:LKFN) traded up 0.42% on Monday, reaching $45.41. 43,435 shares of the company traded hands. The company has a 50-day moving average price of $45.67 and a 200-day moving average price of $44.75. The company has a market capitalization of $1.14 billion, a P/E ratio of 21.22 and a beta of 0.83. Lakeland Financial Corporation has a 12 month low of $32.74 and a 12 month high of $48.88.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Shareholders of record on Tuesday, July 25th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, July 21st. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.94%. Lakeland Financial Corporation’s dividend payout ratio (DPR) is 41.19%.

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In other Lakeland Financial Corporation news, insider Batty Jill A. De sold 600 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $42.61, for a total transaction of $25,566.00. Following the sale, the insider now directly owns 9,232 shares in the company, valued at approximately $393,375.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Michael E. Gavin sold 2,500 shares of the business’s stock in a transaction dated Monday, May 22nd. The stock was sold at an average price of $42.93, for a total transaction of $107,325.00. Following the sale, the executive vice president now owns 2,018 shares in the company, valued at $86,632.74. The disclosure for this sale can be found here. Insiders have sold a total of 6,100 shares of company stock worth $270,711 over the last 90 days. 5.00% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. BKD Wealth Advisors LLC increased its stake in Lakeland Financial Corporation by 30.9% in the second quarter. BKD Wealth Advisors LLC now owns 19,326 shares of the financial services provider’s stock worth $887,000 after buying an additional 4,558 shares during the period. Goldman Sachs Group Inc. increased its stake in 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 during the period. AQR Capital Management LLC increased its stake in Lakeland Financial Corporation by 12.7% in the first quarter. AQR Capital Management LLC now owns 73,739 shares of the financial services provider’s stock worth $3,180,000 after buying an additional 8,301 shares during the period. Schwab Charles Investment Management Inc. increased its stake in Lakeland Financial Corporation by 5.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 106,266 shares of the financial services provider’s stock worth $4,583,000 after buying an additional 5,796 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in 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 during the period. Institutional investors own 69.73% of the company’s stock.

Lakeland Financial Corporation Company Profile

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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