Lakeland Financial (NASDAQ:LKFN – Get Rating) is expected to release its quarterly earnings data before the market opens on Monday, July 25th. Analysts expect the company to report earnings of $0.95 per share for the quarter.
Lakeland Financial (NASDAQ:LKFN – Get Rating) last released its earnings results on Monday, April 25th. The financial services firm reported $0.92 per share for the quarter, beating the consensus estimate of $0.88 by $0.04. Lakeland Financial had a return on equity of 14.41% and a net margin of 40.82%. The company had revenue of $55.57 million for the quarter, compared to the consensus estimate of $56.46 million. In the same quarter last year, the company earned $0.90 per share. On average, analysts expect Lakeland Financial to report earnings per share of $4 for the current fiscal year and $4 for the next fiscal year.
Lakeland Financial shares rose 2.2%
NASDAQ LKFN shares opened at $66.41 on Monday. Lakeland Financial has a 52-week low of $56.06 and a 52-week high of $85.71. The company has a 50-day simple moving average of $68.88 and a two-hundred-day simple moving average of $74.98. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt to equity ratio of 0.12. The company has a market cap of $1.68 billion, a P/E of 17.66 and a beta of 0.71.
Lakeland Financial announces dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, August 5th. Shareholders of record on Monday, July 25 will receive a dividend of $0.40. The ex-dividend date of this dividend is Friday July 22nd. That equates to an annualized dividend of $1.60 and a dividend yield of 2.41%. Lakeland Financial’s payout ratio is currently 42.55%.
Insider Transactions at Lakeland Financial
In other news from Lakeland Financial, Director Robert E. Bartels, Jr. acquired 755 shares of the company’s stock in a transaction Monday, June 13. The shares were purchased at an average price of $67.29 per share for a total transaction of $50,803.95. Following the transaction, the Director now owns 26,213 shares of the Company, valued at $1,763,872.77. The acquisition was disclosed in a filing with the SEC, which is available through the SEC’s website. Company insiders own 4.00% of the company’s stock.
Institutional investors rely on Lakeland Financial
Hedge funds have recently changed their positions in the company. Raymond James & Associates increased its stake in Lakeland Financial by 6.2% in the first quarter. Raymond James & Associates now owns 3,075 shares of the financial services firm, valued at $224,000, after purchasing an additional 179 shares last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC purchased a new position in Lakeland Financial valued at $448,000 during the first quarter. Lazard Asset Management LLC purchased a new position in Lakeland Financial valued at $584,000 during the first quarter. Dynamic Technology Lab Private Ltd acquired a new position in Lakeland Financial valued at $601,000 during the first quarter. Finally, Sei Investments Co. increased its stake in Lakeland Financial by 23.0% during the first quarter. Sei Investments Co. now owns 8,679 shares of the financial services provider, valued at $624,000, after buying an additional 1,622 shares last quarter. 80.34% of the shares are currently owned by institutional investors.
Analyst upgrades and downgrades
Separately, StockNews.com downgraded Lakeland Financial from a “hold” rating to a “sell” rating in a report Monday, May 23.
Company profile of Lakeland Financial
Lakeland Financial Corporation acts as the bank holding company for Lake City Bank, which provides various banking products and services. The company accepts various insoles products such as: B. Interest-free, interest-bearing checks, savings deposits, money market, NOW and sight deposits. Lending products include commercial and industrial real estate, commercial real estate and multi-family homes, agribusiness and agriculture, 1-4 family consumer mortgages and other consumer loans.
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