Wall Street brokerages forecast that Lakeland Financial Co. (NASDAQ:LKFN) will announce earnings per share (EPS) of $0.74 for the current quarter, Zacks reports. Four analysts have made estimates for Lakeland Financial’s earnings. The lowest EPS estimate is $0.74 and the highest is $0.75. Lakeland Financial reported earnings of $0.60 per share during the same quarter last year, which would indicate a positive year over year growth rate of 23.3%. The firm is expected to announce its next earnings results on Tuesday, July 24th.
According to Zacks, analysts expect that Lakeland Financial will report full-year earnings of $3.00 per share for the current year, with EPS estimates ranging from $2.97 to $3.02. For the next fiscal year, analysts anticipate that the company will post earnings of $3.21 per share, with EPS estimates ranging from $3.15 to $3.29. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that follow Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Wednesday, April 25th. The financial services provider reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.01. The company had revenue of $46.10 million during the quarter, compared to the consensus estimate of $45.57 million. Lakeland Financial had a return on equity of 14.09% and a net margin of 28.94%.
Several analysts have recently weighed in on LKFN shares. Zacks Investment Research downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Saturday, March 31st. BidaskClub downgraded Lakeland Financial from a “buy” rating to a “hold” rating in a research note on Saturday, April 28th. Finally, Boenning Scattergood started coverage on Lakeland Financial in a research note on Friday, June 8th. They set a “neutral” rating for the company. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. Lakeland Financial has an average rating of “Hold” and a consensus target price of $51.50.
Shares of Lakeland Financial traded up $0.13, hitting $49.40, during trading hours on Friday, MarketBeat.com reports. 54,700 shares of the company’s stock traded hands, compared to its average volume of 88,933. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market capitalization of $1.26 billion, a PE ratio of 20.67, a P/E/G ratio of 1.66 and a beta of 0.86. Lakeland Financial has a twelve month low of $41.30 and a twelve month high of $52.43.
In related news, insider Kristin Pruitt sold 1,200 shares of Lakeland Financial stock in a transaction dated Monday, May 7th. The stock was sold at an average price of $48.50, for a total value of $58,200.00. Following the completion of the transaction, the insider now directly owns 6,700 shares in the company, valued at $324,950. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Kevin L. Deardorff sold 5,350 shares of Lakeland Financial stock in a transaction dated Wednesday, May 9th. The stock was sold at an average price of $49.00, for a total value of $262,150.00. Following the completion of the transaction, the insider now owns 42,015 shares of the company’s stock, valued at $2,058,735. The disclosure for this sale can be found here. Insiders sold 15,870 shares of company stock valued at $767,710 over the last quarter. Insiders own 4.40% of the company’s stock.
Large investors have recently bought and sold shares of the stock. OLD National Bancorp IN acquired a new position in Lakeland Financial in the fourth quarter worth about $211,000. Xact Kapitalforvaltning AB acquired a new position in Lakeland Financial in the fourth quarter worth about $258,000. A.R.T. Advisors LLC acquired a new position in Lakeland Financial in the first quarter worth about $282,000. Dynamic Technology Lab Private Ltd grew its stake in Lakeland Financial by 45.3% in the first quarter. Dynamic Technology Lab Private Ltd now owns 6,260 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 1,951 shares in the last quarter. Finally, Bedel Financial Consulting Inc. acquired a new position in Lakeland Financial in the fourth quarter worth about $313,000. Institutional investors and hedge funds own 72.55% of the company’s stock.
Lakeland Financial Company Profile
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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