Wall Street brokerages expect Lakeland Financial Co. (NASDAQ:LKFN) to announce sales of $49.79 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for Lakeland Financial’s earnings, with the highest sales estimate coming in at $50.00 million and the lowest estimate coming in at $49.60 million. Lakeland Financial reported sales of $47.23 million during the same quarter last year, which would suggest a positive year over year growth rate of 5.4%. The firm is expected to issue its next earnings report on Wednesday, July 24th.
On average, analysts expect that Lakeland Financial will report full year sales of $201.63 million for the current financial year, with estimates ranging from $200.20 million to $202.80 million. For the next financial year, analysts anticipate that the firm will report sales of $213.91 million, with estimates ranging from $210.70 million to $218.84 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last issued its earnings results on Thursday, April 25th. The financial services provider reported $0.84 EPS for the quarter, beating the Zacks’ consensus estimate of $0.81 by $0.03. The business had revenue of $49.73 million during the quarter, compared to analysts’ expectations of $49.25 million. Lakeland Financial had a net margin of 33.75% and a return on equity of 16.68%.
Shares of LKFN traded down $0.07 during midday trading on Friday, reaching $47.78. 647 shares of the stock were exchanged, compared to its average volume of 79,661. Lakeland Financial has a 12-month low of $37.79 and a 12-month high of $51.25. The company has a debt-to-equity ratio of 0.39, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $1.25 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.48 and a beta of 0.92.
The business also recently announced a quarterly dividend, which was paid on Monday, May 6th. Investors of record on Thursday, April 25th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.51%. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.26. The ex-dividend date was Wednesday, April 24th. Lakeland Financial’s dividend payout ratio (DPR) is presently 38.34%.
In related news, Director Thomas Hiatt bought 2,100 shares of the business’s stock in a transaction that occurred on Thursday, February 7th. The stock was bought at an average cost of $45.66 per share, with a total value of $95,886.00. Following the completion of the purchase, the director now owns 20,291 shares of the company’s stock, valued at approximately $926,487.06. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kristin Pruitt sold 1,500 shares of the firm’s stock in a transaction on Monday, February 25th. The shares were sold at an average price of $48.41, for a total transaction of $72,615.00. Following the transaction, the insider now directly owns 9,094 shares of the company’s stock, valued at $440,240.54. The disclosure for this sale can be found here. Insiders have sold 7,976 shares of company stock valued at $383,235 over the last ninety days. 4.60% of the stock is currently owned by corporate insiders.
Large investors have recently bought and sold shares of the company. Uncommon Cents Investing LLC boosted its holdings in shares of Lakeland Financial by 1.2% in the 1st quarter. Uncommon Cents Investing LLC now owns 24,514 shares of the financial services provider’s stock valued at $1,109,000 after acquiring an additional 295 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Lakeland Financial by 3.9% in the 4th quarter. Principal Financial Group Inc. now owns 11,070 shares of the financial services provider’s stock valued at $445,000 after acquiring an additional 420 shares during the last quarter. Legal & General Group Plc boosted its holdings in shares of Lakeland Financial by 13.8% in the 4th quarter. Legal & General Group Plc now owns 4,356 shares of the financial services provider’s stock valued at $175,000 after acquiring an additional 529 shares during the last quarter. Comerica Bank boosted its holdings in shares of Lakeland Financial by 3.2% in the 1st quarter. Comerica Bank now owns 17,554 shares of the financial services provider’s stock valued at $831,000 after acquiring an additional 549 shares during the last quarter. Finally, Cetera Investment Advisers boosted its holdings in shares of Lakeland Financial by 3.7% in the 1st quarter. Cetera Investment Advisers now owns 17,911 shares of the financial services provider’s stock valued at $810,000 after acquiring an additional 637 shares during the last quarter. Institutional investors and hedge funds own 72.76% of the company’s stock.
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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