Lakeland Financial (LKFN) to Release Quarterly Earnings on Thursday

Lakeland Financial (NASDAQ:LKFN) will be releasing its earnings data before the market opens on Thursday, April 25th. Analysts expect Lakeland Financial to post earnings of $0.86 per share for the quarter.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Lakeland Financial had a return on equity of 14.89% and a net margin of 23.85%. The company had revenue of $65.81 million for the quarter, compared to the consensus estimate of $59.81 million. During the same quarter last year, the company earned $1.01 earnings per share. On average, analysts expect Lakeland Financial to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Lakeland Financial Price Performance

Shares of LKFN stock opened at $61.37 on Tuesday. Lakeland Financial has a 1-year low of $43.05 and a 1-year high of $73.22. The stock’s 50-day moving average is $63.13 and its 200 day moving average is $60.42. The company has a market cap of $1.59 billion, a P/E ratio of 16.81 and a beta of 0.67. The company has a debt-to-equity ratio of 0.08, a current ratio of 0.88 and a quick ratio of 0.88.

Lakeland Financial Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 25th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date of this dividend is Wednesday, April 24th. Lakeland Financial’s payout ratio is currently 52.60%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LKFN. Stephens raised their price objective on Lakeland Financial from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th. Raymond James increased their price target on Lakeland Financial from $60.00 to $78.00 and gave the company an “outperform” rating in a research note on Friday, January 26th.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, Director Steven D. Ross sold 1,300 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $64.50, for a total value of $83,850.00. Following the completion of the sale, the director now directly owns 27,501 shares in the company, valued at $1,773,814.50. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, Director Steven D. Ross sold 1,300 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $64.50, for a total value of $83,850.00. Following the completion of the transaction, the director now directly owns 27,501 shares in the company, valued at $1,773,814.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Michael L. Kubacki sold 26,600 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $71.51, for a total value of $1,902,166.00. Following the completion of the transaction, the director now owns 39,800 shares of the company’s stock, valued at $2,846,098. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 53,728 shares of company stock worth $3,670,449. 3.30% of the stock is owned by insiders.

About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.