Lakeland Financial (NASDAQ:LKFN – Get Rating) is set to announce its earnings results before the market opens on Monday, April 25th. Analysts expect the company to announce earnings of $0.88 per share for the quarter.
Lakeland Financial (NASDAQ:LKFN – Get Rating) last posted its earnings results on Tuesday, January 25th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.02). The business had revenue of $54.72 million during the quarter, compared to analyst estimates of $57.47 million. Lakeland Financial had a net margin of 40.23% and a return on equity of 14.09%. During the same quarter last year, the firm earned $0.97 earnings per share. On average, analysts expect Lakeland Financial to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
NASDAQ LKFN opened at $74.00 on Monday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $1.91 billion, a PE ratio of 19.79 and a beta of 0.73. The company has a 50 day moving average price of $77.62 and a two-hundred day moving average price of $76.83. Lakeland Financial has a 12-month low of $56.06 and a 12-month high of $85.71.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 5th. Shareholders of record on Monday, April 25th will be paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date of this dividend is Friday, April 22nd. Lakeland Financial’s dividend payout ratio (DPR) is presently 42.78%.
A number of research firms have issued reports on LKFN. Zacks Investment Research cut shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Wednesday, April 6th. StockNews.com initiated coverage on shares of Lakeland Financial in a research note on Thursday, March 31st. They issued a “sell” rating for the company.
In related news, Director Michael L. Kubacki sold 35,597 shares of the business’s stock in a transaction on Friday, January 28th. The shares were sold at an average price of $78.56, for a total transaction of $2,796,500.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Stephanie R. Leniski sold 500 shares of the business’s stock in a transaction on Tuesday, February 8th. The stock was sold at an average price of $82.68, for a total transaction of $41,340.00. The disclosure for this sale can be found here. Insiders sold 71,521 shares of company stock valued at $5,719,506 over the last 90 days. 4.00% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in LKFN. Morgan Stanley increased its position in Lakeland Financial by 358.0% during the third quarter. Morgan Stanley now owns 93,286 shares of the financial services provider’s stock worth $6,646,000 after acquiring an additional 72,920 shares during the period. Citadel Advisors LLC increased its holdings in Lakeland Financial by 259.0% in the 3rd quarter. Citadel Advisors LLC now owns 33,131 shares of the financial services provider’s stock valued at $2,361,000 after buying an additional 23,902 shares during the period. Wells Fargo & Company MN increased its holdings in Lakeland Financial by 42.3% in the 4th quarter. Wells Fargo & Company MN now owns 47,139 shares of the financial services provider’s stock valued at $3,778,000 after buying an additional 14,013 shares during the period. JPMorgan Chase & Co. increased its holdings in Lakeland Financial by 59.2% in the 4th quarter. JPMorgan Chase & Co. now owns 23,435 shares of the financial services provider’s stock valued at $1,878,000 after buying an additional 8,715 shares during the period. Finally, Parametric Portfolio Associates LLC increased its holdings in Lakeland Financial by 10.6% in the 4th quarter. Parametric Portfolio Associates LLC now owns 51,186 shares of the financial services provider’s stock valued at $4,102,000 after buying an additional 4,889 shares during the period. 81.43% of the stock is currently owned by institutional investors and hedge funds.
About Lakeland Financial
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.