DA Davidson Comments on Lakeland Financial Corporation’s Q1 2018 Earnings (LKFN)
Lakeland Financial Corporation (NASDAQ:LKFN) – Stock analysts at DA Davidson issued their Q1 2018 earnings per share estimates for Lakeland Financial Corporation in a note issued to investors on Thursday. DA Davidson analyst K. Reevey expects that the financial services provider will earn $0.63 per share for the quarter. DA Davidson also issued estimates for Lakeland Financial Corporation’s Q2 2018 earnings at $0.65 EPS, Q3 2018 earnings at $0.67 EPS, Q4 2018 earnings at $0.71 EPS and FY2019 earnings at $2.91 EPS.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a report on Monday, September 4th. BidaskClub cut Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, ValuEngine upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. Lakeland Financial Corporation presently has an average rating of “Hold” and an average price target of $49.00.
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Lakeland Financial Corporation (NASDAQ LKFN) opened at 49.50 on Monday. The stock has a market cap of $1.24 billion, a P/E ratio of 22.20 and a beta of 0.86. Lakeland Financial Corporation has a one year low of $35.23 and a one year high of $49.98. The stock’s 50 day moving average price is $47.37 and its 200-day moving average price is $45.51.
Lakeland Financial Corporation (NASDAQ:LKFN) last issued its quarterly earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. Lakeland Financial Corporation had a return on equity of 13.51% and a net margin of 30.67%. The business had revenue of $44.12 million for the quarter, compared to the consensus estimate of $43.91 million.
A number of hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of Lakeland Financial Corporation in the 1st quarter valued at about $102,000. BNP Paribas Arbitrage SA grew its holdings in shares of Lakeland Financial Corporation by 1,811.5% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 3,154 shares of the financial services provider’s stock valued at $145,000 after acquiring an additional 2,989 shares in the last quarter. Prudential Financial Inc. grew its holdings in shares of Lakeland Financial Corporation by 1.5% in the 1st quarter. Prudential Financial Inc. now owns 5,272 shares of the financial services provider’s stock valued at $228,000 after acquiring an additional 80 shares in the last quarter. Airain ltd bought a new position in shares of Lakeland Financial Corporation in the 2nd quarter valued at about $229,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in shares of Lakeland Financial Corporation in the 2nd quarter valued at about $234,000. Hedge funds and other institutional investors own 69.37% of the company’s stock.
In other news, Director M Scott Welch bought 5,557 shares of the stock in a transaction on Thursday, September 7th. The stock was purchased at an average price of $41.83 per share, for a total transaction of $232,449.31. Following the acquisition, the director now owns 112,148 shares in the company, valued at $4,691,150.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Eric H. Ottinger sold 1,899 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $46.28, for a total value of $87,885.72. Following the transaction, the insider now owns 21,500 shares of the company’s stock, valued at approximately $995,020. The disclosure for this sale can be found here. In the last quarter, insiders have acquired 10,613 shares of company stock valued at $447,131 and have sold 3,149 shares valued at $142,334. 5.00% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 1.78%. The ex-dividend date of this dividend is Tuesday, October 24th. Lakeland Financial Corporation’s dividend payout ratio (DPR) is presently 37.93%.
Lakeland Financial Corporation Company Profile
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.
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