Q1 2018 Earnings Forecast for Lakeland Financial Co. (LKFN) Issued By DA Davidson

Lakeland Financial Co. (NASDAQ:LKFN) – Research analysts at DA Davidson boosted their Q1 2018 earnings estimates for Lakeland Financial in a research note issued to investors on Friday. DA Davidson analyst K. Reevey now forecasts that the financial services provider will earn $0.70 per share for the quarter, up from their previous forecast of $0.63. DA Davidson also issued estimates for Lakeland Financial’s Q2 2018 earnings at $0.74 EPS, Q3 2018 earnings at $0.77 EPS and Q4 2018 earnings at $0.79 EPS.

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

Other equities analysts have also issued reports about the stock. Zacks Investment Research raised shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a report on Saturday, October 28th. BidaskClub lowered shares of Lakeland Financial from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 12th. ValuEngine raised shares of Lakeland Financial from a “hold” rating to a “buy” rating in a report on Thursday, November 30th. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $50.00 target price on shares of Lakeland Financial in a report on Friday, December 22nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Lakeland Financial currently has a consensus rating of “Buy” and a consensus price target of $52.00.

Lakeland Financial (LKFN) opened at $48.40 on Monday. Lakeland Financial has a 1 year low of $39.68 and a 1 year high of $52.43. The company has a market cap of $1,199.53, a PE ratio of 21.61, a P/E/G ratio of 1.68 and a beta of 0.83. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.95 and a current ratio of 0.95.

Hedge funds have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in Lakeland Financial in the 3rd quarter valued at about $208,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lakeland Financial in the 2nd quarter valued at approximately $234,000. Prudential Financial Inc. boosted its stake in shares of Lakeland Financial by 4.4% in the 2nd quarter. Prudential Financial Inc. now owns 5,502 shares of the financial services provider’s stock valued at $252,000 after purchasing an additional 230 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Lakeland Financial by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 5,932 shares of the financial services provider’s stock valued at $272,000 after purchasing an additional 156 shares in the last quarter. Finally, Macquarie Group Ltd. acquired a new stake in shares of Lakeland Financial in the 3rd quarter valued at approximately $314,000. 69.91% of the stock is currently owned by hedge funds and other institutional investors.

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

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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.

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