Wall Street analysts predict that Lakeland Financial Co. (NASDAQ:LKFN) will announce $48.74 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for Lakeland Financial’s earnings, with the lowest sales estimate coming in at $48.16 million and the highest estimate coming in at $49.46 million. Lakeland Financial reported sales of $49.70 million during the same quarter last year, which would suggest a negative year over year growth rate of 1.9%. The company is expected to announce its next earnings results on Friday, January 24th.

According to Zacks, analysts expect that Lakeland Financial will report full-year sales of $197.97 million for the current financial year, with estimates ranging from $197.60 million to $198.19 million. For the next financial year, analysts anticipate that the firm will post sales of $199.62 million, with estimates ranging from $195.00 million to $205.41 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow Lakeland Financial.

Lakeland Financial (NASDAQ:LKFN) last issued its quarterly earnings data on Friday, October 25th. The financial services provider reported $0.83 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.05. The business had revenue of $50.31 million for the quarter, compared to the consensus estimate of $48.43 million. Lakeland Financial had a return on equity of 15.57% and a net margin of 33.08%.

Several analysts recently commented on LKFN shares. Zacks Investment Research raised Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. ValuEngine raised Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, October 30th. Finally, BidaskClub raised Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Friday, October 18th.

Lakeland Financial stock traded down $0.06 during mid-day trading on Wednesday, hitting $47.06. 52,900 shares of the company’s stock were exchanged, compared to its average volume of 72,591. The firm has a market capitalization of $1.21 billion, a P/E ratio of 15.04 and a beta of 0.94. Lakeland Financial has a fifty-two week low of $37.79 and a fifty-two week high of $49.20. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.05. The company’s 50 day simple moving average is $46.33 and its 200-day simple moving average is $45.06.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 5th. Investors of record on Friday, October 25th were paid a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a yield of 2.55%. The ex-dividend date was Thursday, October 24th. Lakeland Financial’s payout ratio is presently 38.34%.

In related news, EVP Kevin L. Deardorff sold 3,870 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $43.96, for a total transaction of $170,125.20. Following the sale, the executive vice president now owns 50,535 shares of the company’s stock, valued at approximately $2,221,518.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.60% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Cetera Advisors LLC acquired a new stake in Lakeland Financial during the 2nd quarter worth $468,000. D. E. Shaw & Co. Inc. increased its holdings in Lakeland Financial by 11.4% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 16,155 shares of the financial services provider’s stock worth $757,000 after purchasing an additional 1,655 shares in the last quarter. Comerica Bank increased its holdings in Lakeland Financial by 6.2% during the 2nd quarter. Comerica Bank now owns 18,634 shares of the financial services provider’s stock worth $827,000 after purchasing an additional 1,080 shares in the last quarter. Acadian Asset Management LLC increased its holdings in Lakeland Financial by 95.7% during the 2nd quarter. Acadian Asset Management LLC now owns 58,627 shares of the financial services provider’s stock worth $2,747,000 after purchasing an additional 28,675 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in Lakeland Financial by 26.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 32,430 shares of the financial services provider’s stock worth $1,426,000 after purchasing an additional 6,856 shares in the last quarter. 76.38% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Lakeland Financial (NASDAQ:LKFN)

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