Lakeland Financial (NASDAQ:LKFN) Announces Earnings Results, Beats Estimates By $0.02 EPS

Lakeland Financial (NASDAQ:LKFN) issued its quarterly earnings data on Thursday. The financial services provider reported $0.87 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.02, Briefing.com reports. The company had revenue of $68.74 million during the quarter, compared to the consensus estimate of $60.70 million. Lakeland Financial had a net margin of 23.70% and a return on equity of 14.72%. Lakeland Financial’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share.

Lakeland Financial Stock Up 0.6 %

NASDAQ LKFN traded up $0.43 on Friday, hitting $71.18. The stock had a trading volume of 129,353 shares, compared to its average volume of 164,882. The stock has a market cap of $1.82 billion, a price-to-earnings ratio of 19.66 and a beta of 0.67. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.88 and a quick ratio of 0.91. Lakeland Financial has a 52-week low of $44.47 and a 52-week high of $73.22. The business’s fifty day moving average price is $62.32 and its 200 day moving average price is $63.01.

Lakeland Financial Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Thursday, July 25th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 2.70%. The ex-dividend date of this dividend is Thursday, July 25th. Lakeland Financial’s dividend payout ratio is currently 53.04%.

Insider Activity

In other news, SVP Kyra E. Clark sold 500 shares of the business’s stock in a transaction on Friday, May 3rd. The shares were sold at an average price of $62.03, for a total transaction of $31,015.00. Following the sale, the senior vice president now directly owns 7,596 shares of the company’s stock, valued at $471,179.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 3.30% 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 in the United States. The company accepts various deposit products, such as noninterest bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.