Brokerages forecast that Lakeland Financial Co. (NASDAQ:LKFN) will announce earnings per share (EPS) of $0.77 for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lakeland Financial’s earnings, with the lowest EPS estimate coming in at $0.76 and the highest estimate coming in at $0.78. Lakeland Financial posted earnings of $0.83 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 7.2%. The business is scheduled to announce its next quarterly earnings report on Friday, January 24th.
According to Zacks, analysts expect that Lakeland Financial will report full year earnings of $3.27 per share for the current year, with EPS estimates ranging from $3.25 to $3.29. For the next fiscal year, analysts anticipate that the firm will report earnings of $3.13 per share, with EPS estimates ranging from $2.91 to $3.30. Zacks’ earnings per share averages are an average based on a survey of research firms that follow Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Friday, October 25th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.05. The business had revenue of $50.31 million during the quarter, compared to analysts’ expectations of $48.43 million. Lakeland Financial had a net margin of 33.08% and a return on equity of 15.57%.
Several research analysts have issued reports on LKFN shares. ValuEngine raised shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th. BidaskClub raised shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Friday, October 18th. Finally, Zacks Investment Research raised shares of Lakeland Financial from a “sell” rating to a “hold” rating in a report on Wednesday, October 30th.
Lakeland Financial stock traded down $0.06 during trading hours on Monday, hitting $47.06. The stock had a trading volume of 52,900 shares, compared to its average volume of 72,591. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $1.21 billion, a P/E ratio of 15.04 and a beta of 0.94. Lakeland Financial has a 12-month low of $37.79 and a 12-month high of $49.20. The stock’s 50-day moving average price is $46.33 and its 200-day moving average price is $45.06.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Stockholders of record on Friday, October 25th were issued a dividend of $0.30 per share. The ex-dividend date was Thursday, October 24th. This represents a $1.20 annualized dividend and a dividend yield of 2.55%. Lakeland Financial’s payout ratio is 38.34%.
In other news, EVP Kevin L. Deardorff sold 3,870 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $43.96, for a total transaction of $170,125.20. Following the completion of the transaction, the executive vice president now directly owns 50,535 shares of the company’s stock, valued at $2,221,518.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 4.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. CWM LLC grew its position in Lakeland Financial by 3,133.3% during the third quarter. CWM LLC now owns 679 shares of the financial services provider’s stock valued at $30,000 after buying an additional 658 shares during the period. Advisor Group Inc. grew its position in Lakeland Financial by 101.3% during the second quarter. Advisor Group Inc. now owns 1,600 shares of the financial services provider’s stock valued at $75,000 after buying an additional 805 shares during the period. Public Employees Retirement System of Ohio grew its position in Lakeland Financial by 30.6% during the second quarter. Public Employees Retirement System of Ohio now owns 2,444 shares of the financial services provider’s stock valued at $114,000 after buying an additional 573 shares during the period. Bank of Montreal Can grew its position in Lakeland Financial by 144.7% during the second quarter. Bank of Montreal Can now owns 3,487 shares of the financial services provider’s stock valued at $164,000 after buying an additional 2,062 shares during the period. Finally, Commonwealth Equity Services LLC bought a new stake in Lakeland Financial during the second quarter valued at approximately $200,000. Institutional investors own 76.38% of the company’s stock.
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.
Read More: What is total return in investing?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lakeland Financial Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Financial and related companies with MarketBeat.com's FREE daily email newsletter.