Zacks: Analysts Anticipate Lakeland Financial Co. (LKFN) Will Post Quarterly Sales of $48.62 Million
Equities research analysts expect Lakeland Financial Co. (NASDAQ:LKFN) to announce sales of $48.62 million for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Lakeland Financial’s earnings, with estimates ranging from $47.90 million to $48.90 million. Lakeland Financial reported sales of $44.85 million during the same quarter last year, which indicates a positive year over year growth rate of 8.4%. The firm is expected to report its next quarterly earnings results on Thursday, January 24th.
According to Zacks, analysts expect that Lakeland Financial will report full-year sales of $190.64 million for the current financial year, with estimates ranging from $189.60 million to $191.90 million. For the next year, analysts expect that the business will post sales of $202.97 million, with estimates ranging from $201.80 million to $205.47 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Lakeland Financial.
Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.78 by $0.02. Lakeland Financial had a return on equity of 15.54% and a net margin of 30.88%. The company had revenue of $48.36 million during the quarter, compared to analysts’ expectations of $48.60 million.
Lakeland Financial stock traded down $0.37 during midday trading on Friday, reaching $44.25. The company’s stock had a trading volume of 124,642 shares, compared to its average volume of 108,209. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.99 and a current ratio of 0.97. Lakeland Financial has a 52-week low of $39.41 and a 52-week high of $52.43. The stock has a market cap of $1.12 billion, a PE ratio of 18.51, a price-to-earnings-growth ratio of 1.44 and a beta of 0.76.
The company also recently disclosed a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Thursday, October 25th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.35%. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.10. The ex-dividend date was Wednesday, October 24th. Lakeland Financial’s dividend payout ratio (DPR) is presently 43.51%.
In other news, Director Emily E. Pichon sold 500 shares of the firm’s stock in a transaction dated Wednesday, August 22nd. The stock was sold at an average price of $50.85, for a total value of $25,425.00. Following the completion of the transaction, the director now directly owns 15,363 shares in the company, valued at $781,208.55. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Batty Jill A. De sold 1,800 shares of the firm’s stock in a transaction dated Monday, September 10th. The stock was sold at an average price of $48.81, for a total value of $87,858.00. Following the completion of the transaction, the insider now owns 10,386 shares of the company’s stock, valued at $506,940.66. The disclosure for this sale can be found here. Over the last 90 days, insiders bought 10,124 shares of company stock valued at $430,613 and sold 2,600 shares valued at $128,298. Company insiders own 4.40% of the company’s stock.
Large investors have recently made changes to their positions in the company. United Services Automobile Association purchased a new position in shares of Lakeland Financial in the second quarter worth about $202,000. A.R.T. Advisors LLC acquired a new stake in Lakeland Financial during the first quarter worth about $282,000. Dynamic Technology Lab Private Ltd grew its holdings in Lakeland Financial by 45.3% during the first quarter. Dynamic Technology Lab Private Ltd now owns 6,260 shares of the financial services provider’s stock worth $290,000 after acquiring an additional 1,951 shares during the period. Engineers Gate Manager LP acquired a new stake in Lakeland Financial during the third quarter worth about $358,000. Finally, Xact Kapitalforvaltning AB grew its holdings in Lakeland Financial by 60.0% during the first quarter. Xact Kapitalforvaltning AB now owns 8,530 shares of the financial services provider’s stock worth $394,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 72.19% of the company’s stock.
About Lakeland Financial
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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