Analysts forecast that Lakeland Financial Co. (NASDAQ:LKFN) will post $55.25 million in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for Lakeland Financial’s earnings, with the highest sales estimate coming in at $57.00 million and the lowest estimate coming in at $53.50 million. Lakeland Financial posted sales of $53.03 million during the same quarter last year, which suggests a positive year-over-year growth rate of 4.2%. The company is scheduled to announce its next earnings results before the market opens on Monday, October 25th.
According to Zacks, analysts expect that Lakeland Financial will report full-year sales of $222.55 million for the current financial year, with estimates ranging from $219.10 million to $226.00 million. For the next year, analysts expect that the firm will post sales of $221.30 million, with estimates ranging from $217.60 million to $225.00 million. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that follow Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last released its earnings results on Sunday, July 25th. The financial services provider reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.09. The company had revenue of $55.00 million for the quarter, compared to analyst estimates of $54.25 million. Lakeland Financial had a return on equity of 14.44% and a net margin of 39.42%.
In other news, EVP Kristin Pruitt sold 375 shares of the firm’s stock in a transaction dated Friday, September 3rd. The stock was sold at an average price of $68.00, for a total transaction of $25,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jonathan P. Steiner sold 3,000 shares of the firm’s stock in a transaction dated Monday, August 16th. The stock was sold at an average price of $70.39, for a total value of $211,170.00. Following the transaction, the senior vice president now owns 2,000 shares of the company’s stock, valued at $140,780. The disclosure for this sale can be found here. Insiders sold 6,625 shares of company stock worth $471,423 over the last ninety days. 4.40% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Indiana Trust & Investment Management CO purchased a new position in Lakeland Financial in the third quarter worth $219,000. Man Group plc bought a new stake in shares of Lakeland Financial during the 1st quarter valued at $230,000. Teacher Retirement System of Texas bought a new position in Lakeland Financial in the 2nd quarter worth about $209,000. Prudential Financial Inc. bought a new position in Lakeland Financial in the 1st quarter worth about $237,000. Finally, Amalgamated Bank bought a new position in Lakeland Financial in the 2nd quarter worth about $216,000. 74.09% of the stock is currently owned by institutional investors.
Shares of LKFN traded up $0.08 during trading hours on Wednesday, hitting $73.82. 67,384 shares of the company were exchanged, compared to its average volume of 161,452. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 19.90 and a beta of 0.85. Lakeland Financial has a fifty-two week low of $43.54 and a fifty-two week high of $77.05. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $68.63 and its 200 day moving average is $65.22.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 5th. Investors of record on Friday, July 23rd were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a yield of 1.84%. The ex-dividend date of this dividend was Thursday, July 22nd. Lakeland Financial’s dividend payout ratio (DPR) is presently 41.21%.
About Lakeland Financial
Lakeland Financial Corp. is a bank holding company, which engages in the provision of banking products and services. It offers commercial and consumer banking, trust and wealth management, brokerage, and treasury management commercial services. The company was founded on February 8, 1983 and is headquartered in Warsaw, IN.
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