Lakeland Financial Corporation (NASDAQ:LKFN) - Stock analysts at DA Davidson increased their Q3 2017 earnings per share estimates for shares of Lakeland Financial Corporation in a report released on Wednesday. DA Davidson analyst K. Reevey now anticipates that the financial services provider will earn $0.61 per share for the quarter, up from their previous forecast of $0.59. DA Davidson has a “Buy” rating and a $49.00 price objective on the stock. DA Davidson also issued estimates for Lakeland Financial Corporation’s Q4 2017 earnings at $0.61 EPS, FY2017 earnings at $2.38 EPS and FY2018 earnings at $2.65 EPS.
Lakeland Financial Corporation (NASDAQ:LKFN) last issued its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 EPS for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.05. The firm had revenue of $42.61 million during the quarter, compared to the consensus estimate of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.21% and a net margin of 30.72%. TRADEMARK VIOLATION NOTICE: “Brokers Set Expectations for Lakeland Financial Corporation’s Q3 2017 Earnings (NASDAQ:LKFN)” was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are accessing this piece on another site, it was stolen and republished in violation of U.S. & international trademark and copyright law. The legal version of this piece can be viewed at https://stocknewstimes.com/2017/07/29/brokers-set-expectations-for-lakeland-financial-corporations-q3-2017-earnings-nasdaqlkfn.html.
Other equities analysts also recently issued research reports about the company. BidaskClub upgraded Lakeland Financial Corporation from a “sell” rating to a “hold” rating in a research report on Friday, June 9th. Keefe, Bruyette & Woods set a $43.00 target price on Lakeland Financial Corporation and gave the stock a “hold” rating in a research report on Tuesday, April 18th. Finally, Zacks Investment Research downgraded Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, April 28th.
Lakeland Financial Corporation (LKFN) opened at 45.77 on Thursday. The company has a market capitalization of $1.15 billion, a P/E ratio of 21.39 and a beta of 0.83. The company’s 50-day moving average price is $45.95 and its 200-day moving average price is $44.74. Lakeland Financial Corporation has a 52 week low of $33.87 and a 52 week high of $48.88.
The firm also recently declared a quarterly dividend, which will be paid on Monday, August 7th. Investors of record on Tuesday, July 25th will be issued a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, July 21st. This represents a $0.88 dividend on an annualized basis and a yield of 1.92%. Lakeland Financial Corporation’s dividend payout ratio is 39.46%.
In related news, insider Batty Jill A. De sold 600 shares of the firm’s stock in a transaction on Tuesday, May 30th. The stock was sold at an average price of $42.61, for a total transaction of $25,566.00. Following the completion of the sale, the insider now directly owns 9,232 shares of the company’s stock, valued at approximately $393,375.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Michael E. Gavin sold 2,500 shares of the firm’s stock in a transaction on Monday, May 22nd. The shares were sold at an average price of $42.93, for a total value of $107,325.00. Following the sale, the executive vice president now directly owns 2,018 shares of the company’s stock, valued at $86,632.74. The disclosure for this sale can be found here. Insiders have sold a total of 6,100 shares of company stock valued at $270,711 over the last ninety days. Insiders own 5.00% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. John W. Rosenthal Capital Management Inc. boosted its stake in Lakeland Financial Corporation by 4.4% in the first quarter. John W. Rosenthal Capital Management Inc. now owns 145,874 shares of the financial services provider’s stock worth $6,290,000 after buying an additional 6,200 shares in the last quarter. Keybank National Association OH boosted its stake in Lakeland Financial Corporation by 0.8% in the first quarter. Keybank National Association OH now owns 26,070 shares of the financial services provider’s stock worth $1,124,000 after buying an additional 200 shares in the last quarter. Parametric Portfolio Associates LLC boosted its stake in Lakeland Financial Corporation by 4.2% in the first quarter. Parametric Portfolio Associates LLC now owns 20,562 shares of the financial services provider’s stock worth $887,000 after buying an additional 836 shares in the last quarter. Karp Capital Management Corp acquired a new stake in Lakeland Financial Corporation during the first quarter worth $633,000. Finally, Swiss National Bank boosted its stake in Lakeland Financial Corporation by 3.5% in the first quarter. Swiss National Bank now owns 41,250 shares of the financial services provider’s stock worth $1,779,000 after buying an additional 1,400 shares in the last quarter. 69.73% of the stock is owned by hedge funds and other institutional investors.
Lakeland Financial Corporation Company Profile
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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