Analysts Anticipate Lakeland Financial Co. (NASDAQ:LKFN) to Post $0.86 EPS

Wall Street brokerages predict that Lakeland Financial Co. (NASDAQ:LKFN) will post $0.86 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Two analysts have provided estimates for Lakeland Financial’s earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.91. Lakeland Financial reported earnings of $0.67 per share in the same quarter last year, which would indicate a positive year over year growth rate of 28.4%. The company is expected to announce its next earnings results on Monday, April 26th.

According to Zacks, analysts expect that Lakeland Financial will report full year earnings of $3.26 per share for the current financial year, with EPS estimates ranging from $3.10 to $3.39. For the next year, analysts expect that the company will report earnings of $3.28 per share, with EPS estimates ranging from $3.03 to $3.45. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Lakeland Financial.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Sunday, January 24th. The financial services provider reported $0.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.16. Lakeland Financial had a net margin of 33.90% and a return on equity of 13.31%. The company had revenue of $56.50 million during the quarter, compared to the consensus estimate of $52.25 million.

Separately, Zacks Investment Research upgraded Lakeland Financial from a “hold” rating to a “buy” rating and set a $69.00 target price for the company in a research note on Thursday, January 28th.

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NASDAQ:LKFN opened at $71.88 on Monday. Lakeland Financial has a 1 year low of $33.53 and a 1 year high of $77.05. The stock has a market cap of $1.85 billion, a P/E ratio of 22.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.13, a quick ratio of 0.98 and a current ratio of 0.98. The stock has a 50-day simple moving average of $68.94 and a 200-day simple moving average of $55.79.

The business also recently announced a quarterly dividend, which was paid on Friday, February 5th. Investors of record on Monday, January 25th were given a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.89%. This is an increase from Lakeland Financial’s previous quarterly dividend of $0.30. The ex-dividend date of this dividend was Friday, January 22nd. Lakeland Financial’s dividend payout ratio (DPR) is 40.24%.

In other Lakeland Financial news, Director Brian J. Smith sold 10,076 shares of the firm’s stock in a transaction dated Wednesday, February 10th. The stock was sold at an average price of $65.16, for a total transaction of $656,552.16. Following the transaction, the director now owns 25,455 shares of the company’s stock, valued at $1,658,647.80. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Michael L. Kubacki sold 50,490 shares of Lakeland Financial stock in a transaction dated Friday, January 29th. The stock was sold at an average price of $59.12, for a total value of $2,984,968.80. Following the sale, the director now owns 181,725 shares in the company, valued at approximately $10,743,582. The disclosure for this sale can be found here. Insiders have sold a total of 92,418 shares of company stock worth $5,735,529 over the last quarter. 4.80% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of LKFN. Lazard Asset Management LLC acquired a new position in Lakeland Financial in the fourth quarter valued at $25,000. Fieldpoint Private Securities LLC acquired a new position in Lakeland Financial in the 4th quarter valued at about $29,000. Nisa Investment Advisors LLC acquired a new position in Lakeland Financial in the 4th quarter valued at about $40,000. US Bancorp DE raised its stake in Lakeland Financial by 6.9% during the 4th quarter. US Bancorp DE now owns 2,667 shares of the financial services provider’s stock valued at $143,000 after acquiring an additional 172 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC acquired a new stake in Lakeland Financial during the 4th quarter worth approximately $208,000. 73.75% of the stock is 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.

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