FIG Partners Analysts Boost Earnings Estimates for Lakeland Financial Co. (LKFN)

Lakeland Financial Co. (NASDAQ:LKFN) – Equities research analysts at FIG Partners upped their FY2018 earnings per share (EPS) estimates for Lakeland Financial in a note issued to investors on Friday. FIG Partners analyst J. Rodis now anticipates that the financial services provider will earn $2.95 per share for the year, up from their previous estimate of $2.78. FIG Partners also issued estimates for Lakeland Financial’s FY2019 earnings at $3.13 EPS.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. Lakeland Financial had a net margin of 28.42% and a return on equity of 13.67%. The company had revenue of $44.85 million during the quarter, compared to analysts’ expectations of $44.64 million.

A number of other research firms have also recently issued reports on LKFN. BidaskClub cut shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. Zacks Investment Research upgraded shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a report on Wednesday, January 3rd. ValuEngine cut shares of Lakeland Financial from a “buy” rating to a “hold” rating in a report on Monday, October 2nd. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $50.00 price target on shares of Lakeland Financial in a report on Friday, December 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $52.00.

Shares of Lakeland Financial (LKFN) opened at $48.40 on Monday. 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 fifty-two week low of $39.68 and a fifty-two week high of $52.43. The stock has a market cap of $1,211.26, a PE ratio of 20.17, a price-to-earnings-growth ratio of 1.68 and a beta of 0.83.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LKFN. Neuberger Berman Group LLC lifted its stake in shares of Lakeland Financial by 80.2% in the third quarter. Neuberger Berman Group LLC now owns 631,245 shares of the financial services provider’s stock valued at $30,754,000 after buying an additional 280,980 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Lakeland Financial by 13.2% in the second quarter. Goldman Sachs Group Inc. now owns 912,929 shares of the financial services provider’s stock valued at $41,885,000 after buying an additional 106,673 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Lakeland Financial by 4.6% in the third quarter. Victory Capital Management Inc. now owns 950,549 shares of the financial services provider’s stock valued at $46,311,000 after buying an additional 41,769 shares during the period. Stifel Financial Corp lifted its stake in shares of Lakeland Financial by 15.9% in the second quarter. Stifel Financial Corp now owns 299,715 shares of the financial services provider’s stock valued at $13,755,000 after buying an additional 41,061 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its stake in Lakeland Financial by 4.0% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 858,109 shares of the financial services provider’s stock worth $41,807,000 after purchasing an additional 32,875 shares during the period. Institutional investors and hedge funds own 70.02% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Thursday, January 25th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Wednesday, January 24th. Lakeland Financial’s payout ratio is presently 39.29%.

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Lakeland Financial 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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