Lakeland Financial (LKFN) Set to Announce Earnings on Thursday

Lakeland Financial (NASDAQ:LKFN) will be releasing its earnings data before the market opens on Thursday, April 25th. Analysts expect Lakeland Financial to post earnings of $0.86 per share for the quarter.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.10. Lakeland Financial had a return on equity of 14.89% and a net margin of 23.85%. The business had revenue of $65.81 million for the quarter, compared to the consensus estimate of $59.81 million. During the same quarter in the previous year, the company posted $1.01 earnings per share. On average, analysts expect Lakeland Financial to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.

Lakeland Financial Stock Performance

Shares of LKFN stock opened at $58.68 on Thursday. Lakeland Financial has a 1-year low of $43.05 and a 1-year high of $73.22. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.08. The company has a market capitalization of $1.52 billion, a price-to-earnings ratio of 16.08 and a beta of 0.67. The stock’s fifty day simple moving average is $63.55 and its 200-day simple moving average is $60.04.

Lakeland Financial Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 25th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.27%. Lakeland Financial’s dividend payout ratio is 52.60%.

Insider Activity at Lakeland Financial

In related news, Director Michael L. Kubacki sold 26,600 shares of Lakeland Financial stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $71.51, for a total transaction of $1,902,166.00. Following the completion of the sale, the director now owns 39,800 shares of the company’s stock, valued at $2,846,098. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Michael L. Kubacki sold 26,600 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $71.51, for a total transaction of $1,902,166.00. Following the transaction, the director now directly owns 39,800 shares in the company, valued at $2,846,098. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David M. Findlay sold 12,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $65.26, for a total value of $783,120.00. Following the transaction, the chief executive officer now owns 14,175 shares in the company, valued at $925,060.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 53,728 shares of company stock valued at $3,670,449. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On Lakeland Financial

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Pathstone Holdings LLC bought a new position in Lakeland Financial during the fourth quarter valued at about $279,000. Raymond James & Associates grew its stake in shares of Lakeland Financial by 6.2% in the 1st quarter. Raymond James & Associates now owns 3,075 shares of the financial services provider’s stock valued at $224,000 after purchasing an additional 179 shares during the period. Hancock Whitney Corp bought a new stake in shares of Lakeland Financial in the 4th quarter valued at approximately $202,000. Harbour Investments Inc. grew its stake in shares of Lakeland Financial by 17.2% in the 3rd quarter. Harbour Investments Inc. now owns 3,080 shares of the financial services provider’s stock valued at $146,000 after purchasing an additional 451 shares during the period. Finally, Point72 Hong Kong Ltd bought a new stake in shares of Lakeland Financial in the 2nd quarter valued at approximately $144,000. 81.15% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on LKFN shares. Raymond James lifted their price objective on Lakeland Financial from $60.00 to $78.00 and gave the company an “outperform” rating in a research report on Friday, January 26th. Stephens lifted their price objective on Lakeland Financial from $67.00 to $70.00 and gave the company an “equal weight” rating in a research report on Friday, January 26th.

About Lakeland Financial

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.