Financial transaction

Lakeland Financial (LKFN) is expected to release quarterly results on Tuesday

Lakeland Financial (NASDAQ:LKFNGet a rating) is expected to release its quarterly earnings data before the market opens on Tuesday, October 25. Analysts expect the company to report earnings of $1.01 per share for the quarter.

Lakeland Financial (NASDAQ:LKFNGet a rating) last announced its quarterly results on Monday, July 25. The financial services provider reported earnings per share (EPS) of $1.00 for the quarter, beating analyst consensus estimates of $0.95 by $0.05. The company posted revenue of $59.17 million for the quarter, versus analyst estimates of $59.42 million. Lakeland Financial had a net margin of 40.50% and a return on equity of 15.27%. In the same quarter last year, the company achieved EPS of $0.95. On average, analysts expect Lakeland Financial to post EPS of $4 for the current fiscal year and EPS of $4 for the next fiscal year.

Lakeland Financial Stock Up 0.9%

Shares of Lakeland Financial Action opened at $76.10 on Friday. The company’s fifty-day simple moving average is $76.49 and its two-hundred-day simple moving average is $73.17. The company has a market capitalization of $1.93 billion, a PE ratio of 19.97 and a beta of 0.74. Lakeland Financial has a 12-month low of $64.05 and a 12-month high of $85.71.

Lakeland Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, November 7. Shareholders of record on Tuesday, October 25 will receive a dividend of $0.40. This represents a dividend of $1.60 on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Monday, October 24. Lakeland Financial’s payout ratio is currently 41.99%.

Analyst upgrades and downgrades

A number of research analysts have recently commented on the stock. Stephens raised his price target on Lakeland Financial shares to $80.00 in a Tuesday, August 23 report. StockNews.com assumed coverage of Lakeland Financial shares in a report on Wednesday, October 12. They issued a “hold” rating on the stock.

Insiders place their bets

In other Lakeland Financial news, Chief Financial Officer Lisa M. O’Neill sold 1,100 shares in a trade dated Thursday, September 15. The shares were sold at an average price of $76.79, for a total transaction of $84,469.00. Following the transaction, the CFO now directly owns 24,320 shares of the company, valued at approximately $1,867,532.80. The sale was disclosed in a document filed with the SEC, accessible via this hyperlink. In other Lakeland Financial news, Chief Financial Officer Lisa M. O’Neill sold 1,000 shares in a trade dated Monday, August 1. The shares were sold at an average price of $76.98, for a total transaction of $76,980.00. Following the completion of the sale, the CFO now directly owns 25,420 shares of the company, valued at $1,956,831.60. The transaction was disclosed in a legal filing with the SEC, accessible via this link. Additionally, CFO Lisa M. O’Neill sold 1,100 shares in a trade dated Thursday, September 15. The shares were sold at an average price of $76.79, for a total transaction of $84,469.00. Following the sale, the CFO now directly owns 24,320 shares of the company, valued at $1,867,532.80. Disclosure of this sale can be found here. Insiders have sold a total of 2,350 shares of the company worth $180,187 over the past three months. Company insiders hold 4.00% of the company’s shares.

Lakeland Financial Institutional Trading

Several hedge funds have recently changed their holdings in the company. Legal & General Group Plc raised its position in Lakeland Financial shares by 1.2% in the second quarter. Legal & General Group Plc now owns 61,792 shares of the financial services provider valued at $4,104,000 after buying an additional 705 shares in the last quarter. First Republic Investment Management Inc. bought a new stock position in Lakeland Financial in Q2 valued at around $555,000. Captrust Financial Advisors raised its position in Lakeland Financial shares by 45.3% in the second quarter. Captrust Financial Advisors now owns 542 shares of the financial services provider worth $36,000 after buying 169 additional shares in the last quarter. Jane Street Group LLC bought a new position in shares of Lakeland Financial in Q2 worth approximately $533,000. Finally, Thrivent Financial for Lutherans increased its position in Lakeland Financial shares by 20.9% in the second quarter. Thrivent Financial for Lutherans now owns 24,902 shares of the financial services provider valued at $1,654,000 after buying an additional 4,305 shares in the last quarter. 81.26% of the shares are held by hedge funds and other institutional investors.

Lakeland Financial Company Profile

(Get a rating)

Lakeland Financial Corporation operates as a bank holding company for Lake City Bank which provides various banking products and services. The company accepts various deposit products, such as interest-free deposits, interest-bearing checks, savings, money market, NOW and demand deposits. Its lending products include commercial and industrial loans, commercial and multi-family residential real estate, agribusiness and agriculture, consumer mortgages for 1 to 4 families and other consumer loans.

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Earnings History for Lakeland Financial (NASDAQ:LKFN)

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