Lakeland Financial Co. Announces Quarterly Dividend of $0.48 (NASDAQ:LKFN)

Lakeland Financial Co. (NASDAQ:LKFN) announced a quarterly dividend on Tuesday, July 9th, Zacks reports. Shareholders of record on Thursday, July 25th will be given a dividend of 0.48 per share by the financial services provider on Monday, August 5th. This represents a $1.92 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend is Thursday, July 25th.

Lakeland Financial has raised its dividend by an average of 15.3% annually over the last three years and has increased its dividend annually for the last 13 consecutive years. Lakeland Financial has a dividend payout ratio of 53.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lakeland Financial to earn $3.49 per share next year, which means the company should continue to be able to cover its $1.92 annual dividend with an expected future payout ratio of 55.0%.

Lakeland Financial Stock Performance

LKFN opened at $59.46 on Thursday. The business’s 50-day moving average price is $60.89 and its two-hundred day moving average price is $62.73. Lakeland Financial has a 1 year low of $44.47 and a 1 year high of $73.22. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.43 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.02. Lakeland Financial had a return on equity of 14.34% and a net margin of 22.81%. The firm had revenue of $60.03 million for the quarter, compared to the consensus estimate of $58.10 million. Equities analysts expect that Lakeland Financial will post 3.41 EPS for the current fiscal year.

Insider Buying and Selling at Lakeland Financial

In related news, SVP Kyra E. Clark sold 500 shares of Lakeland Financial stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $62.03, for a total value of $31,015.00. Following the sale, the senior vice president now owns 7,596 shares of the company’s stock, valued at $471,179.88. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 3.30% of the company’s stock.

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.