Lakeland Financial Co. (LKFN) to Issue Quarterly Dividend of $0.22
Lakeland Financial Co. (NASDAQ:LKFN) declared a quarterly dividend on Tuesday, January 9th, Zacks reports. Investors of record on Thursday, January 25th will be given a dividend of 0.22 per share by the financial services provider on Monday, February 5th. This represents a $0.88 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Wednesday, January 24th.
Lakeland Financial (NASDAQ:LKFN) opened at $50.69 on Friday. The firm has a market cap of $1,295.77, a price-to-earnings ratio of 21.85, a P/E/G ratio of 1.81 and a beta of 0.83. Lakeland Financial has a 12-month low of $39.68 and a 12-month high of $52.43. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.95 and a quick ratio of 0.95.
Lakeland Financial (NASDAQ:LKFN) last released its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $44.12 million during the quarter, compared to the consensus estimate of $43.91 million. Lakeland Financial had a net margin of 30.67% and a return on equity of 13.33%. equities analysts forecast that Lakeland Financial will post 2.39 EPS for the current year.
A number of research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Lakeland Financial from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Tuesday, September 26th. ValuEngine downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Finally, BidaskClub downgraded shares of Lakeland Financial from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $52.00.
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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