Lakeland Financial Corporation (NASDAQ:LKFN) – Equities research analysts at DA Davidson issued their Q1 2018 EPS estimates for shares of Lakeland Financial Corporation in a research report issued to clients and investors on Thursday. DA Davidson analyst K. Reevey expects that the financial services provider will post earnings of $0.63 per share for the quarter. DA Davidson also issued estimates for Lakeland Financial Corporation’s Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.71 EPS and FY2019 earnings at $2.91 EPS.
Lakeland Financial Corporation (NASDAQ:LKFN) last posted its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Lakeland Financial Corporation had a return on equity of 13.51% and a net margin of 30.67%. The firm had revenue of $44.12 million during the quarter, compared to analysts’ expectations of $43.91 million.
TRADEMARK VIOLATION WARNING: “DA Davidson Weighs in on Lakeland Financial Corporation’s Q1 2018 Earnings (LKFN)” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another domain, it was illegally stolen and reposted in violation of US & international trademark & copyright law. The correct version of this report can be accessed at https://www.com-unik.info/2017/11/01/da-davidson-weighs-in-on-lakeland-financial-corporations-q1-2018-earnings-lkfn.html.
A number of other brokerages also recently weighed in on LKFN. ValuEngine upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research downgraded Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a report on Saturday, September 23rd. Finally, BidaskClub downgraded Lakeland Financial Corporation from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $49.00.
Lakeland Financial Corporation (NASDAQ:LKFN) traded down 0.93% on Monday, reaching $47.83. The company’s stock had a trading volume of 28,370 shares. The firm’s 50-day moving average price is $47.67 and its 200-day moving average price is $45.62. Lakeland Financial Corporation has a 52-week low of $35.23 and a 52-week high of $49.98. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 21.45 and a beta of 0.86.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Stockholders of record on Wednesday, October 25th will be paid a $0.22 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. Lakeland Financial Corporation’s dividend payout ratio is presently 37.93%.
In other news, insider Batty Jill A. De sold 800 shares of the firm’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $43.31, for a total value of $34,648.00. Following the completion of the sale, the insider now directly owns 8,132 shares in the company, valued at approximately $352,196.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric H. Ottinger sold 1,899 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $46.28, for a total value of $87,885.72. Following the completion of the sale, the insider now owns 21,500 shares of the company’s stock, valued at $995,020. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 10,613 shares of company stock valued at $447,131 and sold 3,149 shares valued at $142,334. Company insiders own 5.00% of the company’s stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Wells Fargo & Company MN grew its stake in shares of Lakeland Financial Corporation by 7.6% in the 2nd quarter. Wells Fargo & Company MN now owns 79,494 shares of the financial services provider’s stock valued at $3,647,000 after buying an additional 5,634 shares during the period. Franklin Resources Inc. grew its stake in shares of Lakeland Financial Corporation by 1.7% in the 2nd quarter. Franklin Resources Inc. now owns 1,948,115 shares of the financial services provider’s stock valued at $89,380,000 after buying an additional 31,765 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Lakeland Financial Corporation by 4.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 20,562 shares of the financial services provider’s stock valued at $887,000 after buying an additional 836 shares during the period. Menta Capital LLC acquired a new stake in shares of Lakeland Financial Corporation in the 2nd quarter valued at about $1,051,000. Finally, Dimensional Fund Advisors LP grew its stake in shares of Lakeland Financial Corporation by 2.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,020,218 shares of the financial services provider’s stock valued at $43,992,000 after buying an additional 28,198 shares during the period. Institutional investors own 69.37% 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.
What are top analysts saying about Lakeland Financial Corporation? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Lakeland Financial Corporation and related companies.