Lakeland Financial Co. to Issue Quarterly Dividend of $0.22 (LKFN)

Lakeland Financial Co. (NASDAQ:LKFN) declared a quarterly dividend on Tuesday, January 9th, Zacks reports. Shareholders of record on Thursday, January 25th will be given a dividend of 0.22 per share by the financial services provider on Monday, February 5th. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date is Wednesday, January 24th.

Shares of Lakeland Financial (LKFN) opened at $50.69 on Friday. The company has a market cap of $1,295.77, a P/E ratio of 21.85, a PEG ratio of 1.81 and a beta of 0.83. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.07. Lakeland Financial has a 12-month low of $39.68 and a 12-month high of $52.43.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.62 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.02. The firm had revenue of $44.12 million for the quarter, compared to analyst estimates of $43.91 million. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. analysts forecast that Lakeland Financial will post 2.39 earnings per share for the current year.

Several analysts have recently commented on LKFN shares. Zacks Investment Research raised shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $57.00 price target on the stock in a research report on Saturday, January 13th. ValuEngine lowered shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Thursday, November 16th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $50.00 price target on shares of Lakeland Financial in a research report on Friday, December 22nd. Finally, BidaskClub lowered shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 12th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $52.00.

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About Lakeland Financial

Lakeland Financial Corporation is a bank holding company. The Company, through its subsidiary, Lake City Bank (the Bank), provides an array of products and services throughout its Northern and Central Indiana markets. It offers commercial and consumer banking services, as well as trust and wealth management, brokerage, investment and treasury management commercial services.

Dividend History for Lakeland Financial (NASDAQ:LKFN)

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