Equities analysts forecast that Lakeland Financial Co. (NASDAQ:LKFN) will announce $49.78 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Lakeland Financial’s earnings, with the lowest sales estimate coming in at $49.60 million and the highest estimate coming in at $50.00 million. Lakeland Financial posted sales of $47.23 million during the same quarter last year, which would indicate a positive year over year growth rate of 5.4%. The business is expected to report its next earnings report before the market opens on Thursday, July 25th.

On average, analysts expect that Lakeland Financial will report full year sales of $201.44 million for the current financial year, with estimates ranging from $200.20 million to $202.80 million. For the next year, analysts forecast that the business will post sales of $213.29 million, with estimates ranging from $210.70 million to $218.84 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Lakeland Financial.

Lakeland Financial (NASDAQ:LKFN) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.81 by $0.03. The business had revenue of $49.73 million during the quarter, compared to analyst estimates of $49.25 million. Lakeland Financial had a net margin of 33.75% and a return on equity of 16.34%.

LKFN has been the topic of a number of research reports. Boenning Scattergood reiterated a “hold” rating on shares of American Water Works in a research report on Thursday, May 2nd. BidaskClub upgraded shares of Misonix from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 3rd. Finally, Zacks Investment Research lowered shares of ExlService from a “hold” rating to a “sell” rating in a research report on Wednesday, July 10th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company. Lakeland Financial currently has a consensus rating of “Hold” and a consensus price target of $52.50.

NASDAQ LKFN traded up $0.10 on Friday, reaching $44.49. The company’s stock had a trading volume of 39,700 shares, compared to its average volume of 74,810. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 1.37 and a beta of 0.95. The company’s 50-day moving average price is $45.76. Lakeland Financial has a 52 week low of $37.79 and a 52 week high of $51.25. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.96 and a current ratio of 0.96.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Thursday, July 25th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Wednesday, July 24th. This represents a $1.20 annualized dividend and a yield of 2.70%. Lakeland Financial’s dividend payout ratio is currently 38.34%.

In related news, insider Batty Jill A. De sold 4,200 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $48.00, for a total value of $201,600.00. Following the transaction, the insider now directly owns 6,186 shares in the company, valued at $296,928. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 4.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP raised its holdings in Lakeland Financial by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,049,134 shares of the financial services provider’s stock worth $42,134,000 after purchasing an additional 11,809 shares during the period. Geode Capital Management LLC raised its holdings in Lakeland Financial by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 296,711 shares of the financial services provider’s stock worth $11,915,000 after purchasing an additional 22,722 shares during the period. Northern Trust Corp raised its holdings in Lakeland Financial by 3.9% in the fourth quarter. Northern Trust Corp now owns 683,978 shares of the financial services provider’s stock worth $27,468,000 after purchasing an additional 25,752 shares during the period. Timucuan Asset Management Inc. FL acquired a new stake in Lakeland Financial in the first quarter worth $6,538,000. Finally, MUFG Securities EMEA plc acquired a new stake in Lakeland Financial in the fourth quarter worth $1,474,000. Institutional investors and hedge funds own 73.51% of the company’s stock.

Lakeland Financial Company Profile

Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits. Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.

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