Lakeland Financial (LKFN) Set to Announce Quarterly Earnings on Thursday

Lakeland Financial (NASDAQ:LKFN - Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Thursday, April 25th. Analysts expect Lakeland Financial to post earnings of $0.86 per share for the quarter.

Lakeland Financial (NASDAQ:LKFN - Get Free Report) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.10. The company had revenue of $65.81 million during the quarter, compared to analyst estimates of $59.81 million. Lakeland Financial had a net margin of 23.85% and a return on equity of 14.89%. During the same period last year, the business earned $1.01 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 Price Performance

Lakeland Financial stock traded up $0.44 during midday trading on Thursday, reaching $59.12. 103,142 shares of the stock were exchanged, compared to its average volume of 126,211. Lakeland Financial has a 52 week low of $43.05 and a 52 week high of $73.22. The company has a debt-to-equity ratio of 0.08, a quick ratio of 0.88 and a current ratio of 0.88. The firm has a market cap of $1.54 billion, a PE ratio of 16.27 and a beta of 0.67. The company's fifty day moving average is $63.45 and its 200-day moving average is $60.03.

Lakeland Financial Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 25th will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, April 24th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 3.25%. Lakeland Financial's dividend payout ratio (DPR) is presently 52.60%.

Wall Street Analyst Weigh In

Several research firms recently commented on LKFN. Raymond James boosted their target price on Lakeland Financial from $60.00 to $78.00 and gave the stock an "outperform" rating in a research report on Friday, January 26th. Stephens raised their target price on shares of Lakeland Financial from $67.00 to $70.00 and gave the company an "equal weight" rating in a research note on Friday, January 26th.

Insiders Place Their Bets

In other news, CEO David M. Findlay sold 12,000 shares of the company's stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $65.26, for a total value of $783,120.00. Following the completion of the sale, the chief executive officer now owns 14,175 shares of the company's stock, valued at approximately $925,060.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO David M. Findlay sold 12,000 shares of the business's stock in a transaction dated Wednesday, March 13th. The stock was sold at an average price of $65.26, for a total value of $783,120.00. Following the completion of the sale, the chief executive officer now owns 14,175 shares of the company's stock, valued at approximately $925,060.50. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Michael L. Kubacki sold 26,600 shares of the firm's stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $71.51, for a total value of $1,902,166.00. Following the transaction, the director now owns 39,800 shares in the company, valued at $2,846,098. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 53,728 shares of company stock valued at $3,670,449. 3.30% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Lakeland Financial

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LKFN. Bessemer Group Inc. lifted its holdings in Lakeland Financial by 78.9% in the 4th quarter. Bessemer Group Inc. now owns 381 shares of the financial services provider's stock worth $28,000 after buying an additional 168 shares during the period. Public Employees Retirement System of Ohio boosted its holdings in Lakeland Financial by 47.6% in the third quarter. Public Employees Retirement System of Ohio now owns 431 shares of the financial services provider's stock valued at $31,000 after acquiring an additional 139 shares in the last quarter. Captrust Financial Advisors increased its position in Lakeland Financial by 45.3% during the 2nd quarter. Captrust Financial Advisors now owns 542 shares of the financial services provider's stock valued at $36,000 after purchasing an additional 169 shares during the period. Coppell Advisory Solutions Corp. bought a new position in Lakeland Financial in the 4th quarter worth $43,000. Finally, Point72 Middle East FZE purchased a new stake in shares of Lakeland Financial in the 4th quarter worth about $46,000. 81.15% of the stock is currently owned by institutional investors.

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.