Lakeland Financial (LKFN) Expected to Announce Earnings on Friday

Lakeland Financial (NASDAQ:LKFN) is projected to announce its quarterly earnings results before the market opens on Friday, January 24th. Analysts expect the company to announce 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. The business had revenue of $106.94 million during the quarter, compared to analyst estimates of $59.90 million. Lakeland Financial had a net margin of 22.85% and a return on equity of 13.64%. During the same period in the prior year, the business posted $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 Trading Down 0.6 %

LKFN opened at $68.15 on Friday. Lakeland Financial has a 12 month low of $57.45 and a 12 month high of $78.61. The business’s 50-day moving average price is $71.45 and its 200-day moving average price is $67.31. The company has a market cap of $1.74 billion, a P/E ratio of 17.70 and a beta of 0.69.

Lakeland Financial Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Saturday, January 25th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 2.93%. This is a positive change from Lakeland Financial’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Friday, January 24th. Lakeland Financial’s dividend payout ratio (DPR) is presently 49.87%.

Insider Activity

In related news, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction on Monday, November 18th. The shares were sold at an average price of $73.50, for a total value of $290,986.50. Following the transaction, the executive vice president now directly owns 32,475 shares of the company’s stock, valued at $2,386,912.50. The trade was a 10.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders sold 4,150 shares of company stock valued at $305,327. 3.30% of the stock is currently owned by company 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.