Lakeland Financial (LKFN) Projected to Post Quarterly Earnings on Friday

Lakeland Financial (NASDAQ:LKFN) is expected to issue its quarterly earnings data before the market opens on Friday, January 24th. Analysts expect the company to announce earnings of $0.89 per share and revenue of $62,490.00 billion for the quarter.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. The company had revenue of $106.94 million for the quarter, compared to analyst estimates of $59.90 million. During the same quarter last year, the firm posted $0.98 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 Down 0.4 %

Shares of NASDAQ LKFN opened at $68.13 on Wednesday. The business has a 50 day moving average price of $71.23 and a two-hundred day moving average price of $67.51. The firm has a market cap of $1.74 billion, a PE ratio of 17.70 and a beta of 0.69. Lakeland Financial has a fifty-two week low of $57.45 and a fifty-two week high of $78.61.

Lakeland Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Saturday, January 25th will be paid a dividend of $0.50 per share. This is a positive change from Lakeland Financial’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 24th. This represents a $2.00 annualized dividend and a yield of 2.94%. Lakeland Financial’s payout ratio is presently 49.87%.

Insider Buying and Selling at Lakeland Financial

In other Lakeland Financial news, EVP Eric H. Ottinger sold 3,959 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $73.50, for a total value of $290,986.50. Following the completion of the sale, the executive vice president now directly owns 32,475 shares in the company, valued at $2,386,912.50. This represents a 10.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 4,150 shares of company stock worth $305,327. 3.30% of the stock is owned by insiders.

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.