Analysts expect Lakeland Financial Co. (NASDAQ:LKFN) to post earnings of $0.80 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Lakeland Financial’s earnings, with the highest EPS estimate coming in at $0.83 and the lowest estimate coming in at $0.77. Lakeland Financial posted earnings of $0.61 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 31.1%. The business is expected to report its next quarterly earnings report on Thursday, January 24th.
According to Zacks, analysts expect that Lakeland Financial will report full year earnings of $3.09 per share for the current fiscal year, with EPS estimates ranging from $3.07 to $3.13. For the next financial year, analysts forecast that the company will report earnings of $3.28 per share, with EPS estimates ranging from $3.15 to $3.41. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms 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. The business had revenue of $48.36 million during the quarter, compared to analyst estimates of $48.60 million. Lakeland Financial had a return on equity of 15.54% and a net margin of 30.88%.
In other Lakeland Financial news, Director M Scott Welch bought 8,000 shares of the firm’s stock in a transaction dated Monday, October 29th. The stock was purchased at an average cost of $42.25 per share, with a total value of $338,000.00. Following the transaction, the director now directly owns 136,448 shares in the company, valued at approximately $5,764,928. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Kevin L. Deardorff bought 5,582 shares of the firm’s stock in a transaction dated Friday, December 14th. The shares were acquired at an average cost of $41.47 per share, with a total value of $231,485.54. Following the completion of the transaction, the insider now owns 42,015 shares in the company, valued at $1,742,362.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 32,456 shares of company stock valued at $1,376,023. Insiders own 4.40% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. United Services Automobile Association purchased a new stake in Lakeland Financial in the 2nd quarter worth about $202,000. Capital Fund Management S.A. purchased a new stake in Lakeland Financial in the 3rd quarter worth about $251,000. Engineers Gate Manager LP purchased a new stake in Lakeland Financial in the 3rd quarter worth about $358,000. WINTON GROUP Ltd increased its holdings in Lakeland Financial by 14.0% in the 3rd quarter. WINTON GROUP Ltd now owns 10,005 shares of the financial services provider’s stock worth $465,000 after acquiring an additional 1,226 shares during the last quarter. Finally, BlueMountain Capital Management LLC increased its holdings in Lakeland Financial by 52.0% in the 2nd quarter. BlueMountain Capital Management LLC now owns 10,369 shares of the financial services provider’s stock worth $500,000 after acquiring an additional 3,547 shares during the last quarter. 70.95% of the stock is owned by hedge funds and other institutional investors.
NASDAQ LKFN opened at $38.65 on Monday. The firm has a market capitalization of $1.01 billion, a P/E ratio of 13.81, a P/E/G ratio of 1.30 and a beta of 0.75. Lakeland Financial has a 12 month low of $38.44 and a 12 month high of $51.76. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.22.
Lakeland Financial Company Profile
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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