Analysts forecast that Lakeland Financial Co. (NASDAQ:LKFN) will announce $49.79 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Lakeland Financial’s earnings, with estimates ranging from $49.60 million to $50.00 million. Lakeland Financial reported sales of $47.23 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5.4%. The company is scheduled to report its next earnings report on Wednesday, July 24th.
On average, analysts expect that Lakeland Financial will report full year sales of $201.63 million for the current financial year, with estimates ranging from $200.20 million to $202.80 million. For the next year, analysts expect that the business will post sales of $213.91 million, with estimates ranging from $210.70 million to $218.84 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.84 EPS for the quarter, topping the consensus estimate of $0.81 by $0.03. The business had revenue of $49.73 million during the quarter, compared to analysts’ expectations of $49.25 million. Lakeland Financial had a net margin of 33.75% and a return on equity of 16.34%.
Several analysts recently commented on LKFN shares. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, February 27th. Boenning Scattergood reiterated a “hold” rating on shares of Lakeland Financial in a research note on Thursday, May 2nd. Finally, BidaskClub upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $52.50.
In other Lakeland Financial news, insider Batty Jill A. De sold 4,200 shares of Lakeland Financial stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $48.00, for a total value of $201,600.00. Following the completion of the sale, the insider now directly owns 6,186 shares in the company, valued at $296,928. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.60% of the stock is owned by insiders.
Large investors have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Lakeland Financial in the first quarter valued at approximately $35,000. Bank of Montreal Can raised its position in shares of Lakeland Financial by 316.7% in the first quarter. Bank of Montreal Can now owns 1,425 shares of the financial services provider’s stock valued at $64,000 after purchasing an additional 1,083 shares during the period. SG Americas Securities LLC bought a new position in shares of Lakeland Financial in the first quarter valued at approximately $109,000. Legal & General Group Plc raised its position in shares of Lakeland Financial by 13.8% in the fourth quarter. Legal & General Group Plc now owns 4,356 shares of the financial services provider’s stock valued at $175,000 after purchasing an additional 529 shares during the period. Finally, CIBC Private Wealth Group LLC bought a new position in shares of Lakeland Financial in the fourth quarter valued at approximately $201,000. 73.51% of the stock is currently owned by institutional investors.
Shares of LKFN stock traded up $0.45 during trading on Thursday, hitting $45.53. 3,710 shares of the company were exchanged, compared to its average volume of 50,346. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 14.53, a price-to-earnings-growth ratio of 1.37 and a beta of 0.96. The business’s 50-day moving average is $46.17. Lakeland Financial has a twelve month low of $37.79 and a twelve month high of $51.25.
Lakeland Financial Company Profile
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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