Lakeland Financial (LKFN) to Release Quarterly Earnings on Friday

Lakeland Financial (NASDAQ:LKFN) will likely be releasing its earnings data before the market opens on Friday, January 24th. Analysts expect Lakeland Financial to post earnings of $0.89 per share and revenue of $62,490.00 billion for the quarter.

Lakeland Financial (NASDAQ:LKFN) last posted its quarterly earnings results on Friday, October 25th. The financial services provider reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03. The firm had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%. During the same period last year, the company earned $0.98 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 opened at $67.44 on Thursday. The stock has a market capitalization of $1.72 billion, a price-to-earnings ratio of 17.52 and a beta of 0.69. Lakeland Financial has a 52-week low of $57.45 and a 52-week high of $78.61. The stock’s 50-day simple moving average is $71.08 and its 200 day simple moving average is $67.58.

Lakeland Financial Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Saturday, January 25th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Friday, January 24th. This is a positive change from Lakeland Financial’s previous quarterly dividend of $0.48. Lakeland Financial’s dividend payout ratio is 49.87%.

Insider Buying and Selling

In other news, EVP Eric H. Ottinger sold 3,959 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $73.50, for a total transaction of $290,986.50. Following the transaction, the executive vice president now directly owns 32,475 shares in the company, valued at approximately $2,386,912.50. This represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 4,150 shares of company stock worth $305,327 over the last ninety days. 3.30% of the stock is owned by corporate insiders.

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.