According to Zacks Investment Research, stock analysts predict that Lakeland Financial Co. (NASDAQ: LKFN) will report revenue of $ 54.25 million for the current quarter. Two analysts have provided estimates of Lakeland Financial’s earnings, with the lowest revenue estimate being $ 53.50 million and the highest estimate being $ 55.00 million. Lakeland Financial reported revenue of $ 50.70 million for the same quarter last year, indicating a positive year-over-year growth rate of 7%. The company is expected to announce its next earnings report on Monday, July 26th.
On average, analysts expect Lakeland Financial to post total annual revenues of $ 220.05 million for the current fiscal year, with estimates ranging from $ 216.10 million to $ 224.00 million. For the next fiscal year, analysts expect sales of 220.55 million US dollars, with estimates ranging between 213.10 million US dollars and 228.00 million US dollars. Zacks’ revenue calculations are based on a survey of sell-side research analysts covering Lakeland Financial.
Lakeland Financial (NASDAQ: LKFN) last released its earnings results on Sunday April 25th. The financial services company reported earnings per share of $ 0.90 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.88 by $ 0.02. The company had revenue of $ 56.24 million for the quarter, compared to the consensus estimate of $ 55.50 million. Lakeland Financial had a return on equity of 14.03% and a net margin of 37.62%.
Separately, Zacks Investment Research downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Wednesday June 9th.
Institutional investors have recently changed their positions in the company. Lazard Asset Management LLC made a new position in shares of Lakeland Financial worth approximately $ 25,000 in the fourth quarter. Fieldpoint Private Securities LLC increased its stake in Lakeland Financial by 41.0% in the first quarter. Fieldpoint Private Securities LLC now owns 770 shares in the financial services company valued at $ 53,000 after purchasing an additional 224 shares last quarter. Sowell Financial Services LLC bought a new stake in Lakeland Financial worth approximately $ 170,000 in the first quarter. US Bancorp DE increased its stake in Lakeland Financial by 6.9% in the fourth quarter. US Bancorp DE now owns 2,667 shares in the financial services company valued at $ 143,000 after buying an additional 172 shares in the last quarter. Eventually, Indiana Trust & Investment Management CO bought a new stake in Lakeland Financial worth approximately $ 212,000 in the first quarter. Institutional investors and hedge funds own 74.73% of the company’s stock.
NASDAQ LKFN opened Tuesday at $ 61.23. The stock has a market cap of $ 1.55 billion, a P / E of 17.35, and a beta of 0.87. The company has a quick ratio of 0.94, a current ratio of 0.94, and debt of 0.12. The company’s fifty-day moving average is $ 62.90. Lakeland Financial has a 52-week low of $ 39.38 and a 52-week high of $ 77.05.
The company also recently announced a quarterly dividend, which was paid on Wednesday, May 5th. Shareholders of record on Sunday April 25th received a dividend of $ 0.34. The ex-dividend date was Thursday April 22nd. This equates to an annualized dividend of $ 1.36 and a dividend yield of 2.22%. Lakeland Financial’s payout ratio is 41.21%.
About Lakeland Financial
Lakeland Financial Corporation is the bank holding company of Lake City Bank, offering a variety of banking products and services. The company accepts a variety of deposit products such as zero-interest, interest-bearing check, savings, money market, NOW and sight deposits. Loan products include commercial and industrial real estate, commercial real estate and apartment buildings, agribusiness and agriculture, consumer credit for 1-4 families, and other consumer credit.
Further Reading: How to Implement an Ex-Dividend Trading Strategy?
Get a Free Copy of the Zacks Research Report on Lakeland Financial (LKFN)
For more information on Zacks Investment Research’s research offerings, please visit Zacks.com
This instant news alert was generated through narrative science technology and financial data from MarketBeat to provide readers with the fastest, most accurate coverage. This story has been reviewed by the editorial staff of MarketBeat prior to publication. Please send questions or comments about this story to [emailÂ protected]
Sponsored Article: Trading ex-dividend strategy
7 Eternal Shares That Are Never Bad to Buy
Investors thought 2021 would be a less volatile year. This narrative ran into some problems. Sure, all major indices are up for the year. And that’s despite the heartbreaking 10% decline in NASDAQ in March.
But many investors don’t feel like celebrating. Indeed, many are concerned about the liquidity that continues to be pumped into the stock market. In 2020, the pandemic flooded the economy with $ 6 trillion in stimulus packages.
However, in the past few months, the Federal Reserve has injected another $ 6 trillion into the economy. We would have stopped counting, but the math is pretty simple. It’s $ 12.3 trillion that went into the economy.
At some point the bad will end. But the timing of the market is an imperfect science, especially when many investors are enjoying the game.
Fortunately, there is a way to protect your portfolio without sacrificing stocks. That has to do with investing in Forever stocks. Forever stocks are not magic beans. You don’t go up forever. But they are stocks that have stood the test of time. And investing in these stocks will steer your portfolio in the right direction.
With that in mind, we’ve put together this special presentation that showcases seven of these Eternal Shares. These are all stocks that are well known, but that’s what it’s all about. You do not need any special knowledge. You just have to realize that these are companies that consistently argue that their shareholders are right.
Check out the “7 Eternal Stocks That Are Never Bad to Buy”.