Wall Street brokerages expect Lakeland Financial Co. (NASDAQ:LKFN) to announce $0.82 earnings per share (EPS) for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Lakeland Financial’s earnings, with the lowest EPS estimate coming in at $0.79 and the highest estimate coming in at $0.84. Lakeland Financial reported earnings per share of $0.71 during the same quarter last year, which suggests a positive year over year growth rate of 15.5%. The company is scheduled to report its next quarterly earnings results on Wednesday, April 24th.
On average, analysts expect that Lakeland Financial will report full year earnings of $3.30 per share for the current fiscal year, with EPS estimates ranging from $3.23 to $3.41. For the next year, analysts anticipate that the company will post earnings of $3.54 per share, with EPS estimates ranging from $3.38 to $3.67. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Lakeland Financial.
Get Lakeland Financial alerts:Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Friday, January 25th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.80 by $0.03. The company had revenue of $49.70 million for the quarter, compared to analyst estimates of $48.48 million. Lakeland Financial had a return on equity of 16.54% and a net margin of 33.63%.
A number of equities research analysts have recently issued reports on the company. Zacks Investment Research lowered Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. BidaskClub raised Lakeland Financial from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Finally, ValuEngine raised Lakeland Financial from a “sell” rating to a “hold” rating in a research report on Monday, November 26th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $52.50.
In other Lakeland Financial news, Director M Scott Welch purchased 8,000 shares of the stock in a transaction dated Monday, December 10th. The shares were acquired at an average price of $42.45 per share, for a total transaction of $339,600.00. Following the completion of the acquisition, the director now owns 136,448 shares of the company’s stock, valued at approximately $5,792,217.60. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Hiatt purchased 2,100 shares of the stock in a transaction dated Thursday, February 7th. The shares were acquired at an average price of $45.66 per share, for a total transaction of $95,886.00. Following the acquisition, the director now directly owns 20,291 shares of the company’s stock, valued at approximately $926,487.06. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 24,432 shares of company stock worth $1,041,297 and have sold 12,163 shares worth $556,410. 4.40% of the stock is owned by insiders.
Several hedge funds have recently modified their holdings of LKFN. Walthausen & Co. LLC purchased a new position in shares of Lakeland Financial during the third quarter valued at $11,014,000. Segall Bryant & Hamill LLC grew its holdings in shares of Lakeland Financial by 53.5% during the fourth quarter. Segall Bryant & Hamill LLC now owns 510,786 shares of the financial services provider’s stock valued at $20,513,000 after buying an additional 178,109 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Lakeland Financial by 21.6% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 542,943 shares of the financial services provider’s stock valued at $21,805,000 after buying an additional 96,339 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of Lakeland Financial by 100.2% during the third quarter. Renaissance Technologies LLC now owns 172,651 shares of the financial services provider’s stock valued at $8,025,000 after buying an additional 86,400 shares in the last quarter. Finally, BTIM Corp. grew its holdings in shares of Lakeland Financial by 31.1% during the fourth quarter. BTIM Corp. now owns 298,363 shares of the financial services provider’s stock valued at $11,982,000 after buying an additional 70,769 shares in the last quarter. Institutional investors and hedge funds own 70.96% of the company’s stock.
Shares of Lakeland Financial stock traded up $0.19 on Friday, reaching $48.51. 1,069 shares of the company were exchanged, compared to its average volume of 82,985. The firm has a market capitalization of $1.22 billion, a PE ratio of 15.51, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22. Lakeland Financial has a fifty-two week low of $37.79 and a fifty-two week high of $51.25.
The business also recently announced a quarterly dividend, which was paid on Tuesday, February 5th. Stockholders of record on Friday, January 25th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend was Thursday, January 24th. Lakeland Financial’s dividend payout ratio (DPR) is presently 33.23%.
About Lakeland Financial
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.
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