Lakeland Financial Corporation (NASDAQ:LKFN) released its earnings results on Wednesday, October 25th. The financial services provider reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.60 by $0.02, Bloomberg Earnings reports. The firm had revenue of $44.12 million for the quarter, compared to the consensus estimate of $43.91 million. Lakeland Financial Corporation had a net margin of 30.67% and a return on equity of 13.33%.
Lakeland Financial Corporation (NASDAQ LKFN) opened at $47.64 on Friday. Lakeland Financial Corporation has a one year low of $39.68 and a one year high of $50.00. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.07. The firm has a market cap of $1,185.92, a P/E ratio of 20.29, a PEG ratio of 1.97 and a beta of 0.83.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 6th. Stockholders of record on Wednesday, October 25th were paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 1.85%. The ex-dividend date was Tuesday, October 24th. Lakeland Financial Corporation’s dividend payout ratio (DPR) is presently 37.93%.
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In other news, Director M Scott Welch bought 4,443 shares of the firm’s stock in a transaction on Wednesday, September 6th. The shares were bought at an average price of $42.30 per share, for a total transaction of $187,938.90. Following the purchase, the director now owns 112,148 shares in the company, valued at $4,743,860.40. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Batty Jill A. De sold 800 shares of the firm’s stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $43.31, for a total transaction of $34,648.00. Following the sale, the insider now owns 8,132 shares in the company, valued at approximately $352,196.92. The disclosure for this sale can be found here. Insiders bought a total of 10,113 shares of company stock worth $425,381 in the last quarter. Company insiders own 5.00% of the company’s stock.
A number of analysts have recently weighed in on the stock. ValuEngine downgraded shares of Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a research report on Monday, October 2nd. Zacks Investment Research raised shares of Lakeland Financial Corporation from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research report on Tuesday, September 26th. Finally, BidaskClub downgraded shares of Lakeland Financial Corporation from a “sell” rating to a “strong sell” rating in a research report on Monday, August 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $49.00.
About Lakeland Financial Corporation
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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