Analysts expect Lakeland Financial Co. (NASDAQ:LKFN) to post $48.91 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lakeland Financial’s earnings, with the lowest sales estimate coming in at $48.43 million and the highest estimate coming in at $49.20 million. Lakeland Financial posted sales of $46.10 million during the same quarter last year, which suggests a positive year-over-year growth rate of 6.1%. The company is expected to announce its next quarterly earnings results on Wednesday, April 24th.
On average, analysts expect that Lakeland Financial will report full year sales of $202.60 million for the current financial year, with estimates ranging from $200.53 million to $203.90 million. For the next year, analysts anticipate that the firm will post sales of $217.23 million, with estimates ranging from $213.93 million to $223.37 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last posted its earnings results on Friday, January 25th. The financial services provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.80 by $0.03. The business had revenue of $49.70 million during the quarter, compared to the consensus estimate of $48.48 million. Lakeland Financial had a return on equity of 16.54% and a net margin of 33.63%.
In other news, SVP Jonathan P. Steiner sold 1,991 shares of Lakeland Financial stock in a transaction on Wednesday, February 6th. The stock was sold at an average price of $45.19, for a total value of $89,973.29. Following the completion of the sale, the senior vice president now directly owns 9,375 shares of the company’s stock, valued at approximately $423,656.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Thomas Hiatt bought 2,100 shares of the stock in a transaction dated Thursday, February 7th. The stock was purchased 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 directly owns 20,291 shares in the company, valued at approximately $926,487.06. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 24,432 shares of company stock valued at $1,041,297 and have sold 12,163 shares valued at $556,410. Company insiders own 4.40% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quantamental Technologies LLC acquired a new stake in shares of Lakeland Financial in the 4th quarter valued at $48,000. Clean Yield Group acquired a new stake in shares of Lakeland Financial in the 4th quarter valued at $60,000. CKW Financial Group grew its stake in shares of Lakeland Financial by 150.1% during the fourth quarter. CKW Financial Group now owns 2,931 shares of the financial services provider’s stock worth $118,000 after purchasing an additional 1,759 shares during the period. United Services Automobile Association acquired a new stake in shares of Lakeland Financial during the second quarter worth $202,000. Finally, Legal & General Group Plc grew its stake in shares of Lakeland Financial by 13.8% during the fourth quarter. Legal & General Group Plc now owns 4,356 shares of the financial services provider’s stock worth $175,000 after purchasing an additional 529 shares during the period. 70.96% of the stock is owned by institutional investors.
Shares of Lakeland Financial stock traded down $0.02 during midday trading on Tuesday, hitting $48.33. 45,399 shares of the company were exchanged, compared to its average volume of 65,468. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.97 and a quick ratio of 0.97. The company has a market capitalization of $1.22 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 1.46 and a beta of 0.91. Lakeland Financial has a 52 week low of $37.79 and a 52 week high of $51.25.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, February 5th. Investors of record on Friday, January 25th were issued a dividend of $0.26 per share. The ex-dividend date was Thursday, January 24th. This represents a $1.04 dividend on an annualized basis and a yield of 2.15%. Lakeland Financial’s dividend payout ratio is 33.23%.
About Lakeland Financial
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in Indiana. The company offers various deposit products, including noninterest bearing deposits; interest-bearing checking, savings, and money market deposits; and NOW and demand deposits.
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