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

Lakeland Financial (NASDAQ:LKFN) posted its earnings results 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 firm had revenue of $68.74 million during the quarter, compared to analysts’ expectations of $60.70 million. Lakeland Financial had a net margin of 23.70% and a return on equity of 14.72%. The business’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 earnings per share.

Lakeland Financial Price Performance

Shares of LKFN stock traded up $0.43 on Friday, reaching $71.18. The company had a trading volume of 129,353 shares, compared to its average volume of 164,882. The stock has a market capitalization of $1.82 billion, a PE ratio of 19.66 and a beta of 0.67. The company has a quick ratio of 0.91, a current ratio of 0.88 and a debt-to-equity ratio of 0.31. Lakeland Financial has a one year low of $44.47 and a one year high of $73.22. The business’s 50-day moving average is $62.32 and its 200 day moving average is $63.01.

Lakeland Financial Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Thursday, July 25th will be issued a $0.48 dividend. The ex-dividend date is Thursday, July 25th. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.70%. Lakeland Financial’s dividend payout ratio (DPR) is currently 53.04%.

Insider Transactions at Lakeland Financial

In other news, SVP Kyra E. Clark sold 500 shares of the stock in a transaction dated Friday, May 3rd. The shares were sold at an average price of $62.03, for a total value of $31,015.00. Following the completion of the transaction, the senior vice president now owns 7,596 shares of the company’s stock, valued at $471,179.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 3.30% of the company’s stock.

About Lakeland Financial

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.