Lakeland Financial (LKFN) Set to Announce Earnings on Thursday

Lakeland Financial (NASDAQ:LKFN) is scheduled to post its quarterly earnings results 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 posted its earnings results on Thursday, January 25th. The financial services provider reported $0.98 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.88 by $0.10. Lakeland Financial had a return on equity of 14.89% and a net margin of 23.85%. The firm had revenue of $65.81 million for the quarter, compared to the consensus estimate of $59.81 million. During the same quarter in the prior year, the business posted $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 Stock Performance

NASDAQ:LKFN opened at $62.90 on Wednesday. Lakeland Financial has a 52-week low of $43.05 and a 52-week high of $73.22. The business’s fifty day moving average is $63.11 and its 200 day moving average is $60.53. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 17.23 and a beta of 0.67.

Lakeland Financial Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 3.05%. The ex-dividend date of this dividend is Wednesday, April 24th. Lakeland Financial’s payout ratio is 52.60%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, SVP Stephanie R. Leniski sold 2,560 shares of the stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $63.17, for a total transaction of $161,715.20. Following the completion of the transaction, the senior vice president now owns 4,270 shares in the company, valued at $269,735.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lakeland Financial news, SVP Stephanie R. Leniski sold 2,560 shares of Lakeland Financial stock in a transaction on Wednesday, February 7th. The stock was sold at an average price of $63.17, for a total transaction of $161,715.20. Following the completion of the sale, the senior vice president now directly owns 4,270 shares of the company’s stock, valued at approximately $269,735.90. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael L. Kubacki sold 26,600 shares of Lakeland Financial stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $71.51, for a total transaction of $1,902,166.00. Following the transaction, the director now directly owns 39,800 shares in the company, valued at $2,846,098. The disclosure for this sale can be found here. Insiders sold 53,728 shares of company stock valued at $3,670,449 in the last 90 days. Insiders own 3.30% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on LKFN shares. Raymond James lifted their price target on Lakeland Financial from $60.00 to $78.00 and gave the stock an “outperform” rating in a research note on Friday, January 26th. 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.

Lakeland Financial Company Profile

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.