Lakeland Financial (NASDAQ:LKFN) announced its quarterly earnings results on Sunday. The financial services provider reported $0.97 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.16, MarketWatch Earnings reports. Lakeland Financial had a net margin of 33.90% and a return on equity of 13.31%.
Lakeland Financial stock traded up $1.80 during midday trading on Tuesday, hitting $61.75. The company’s stock had a trading volume of 6,104 shares, compared to its average volume of 94,498. Lakeland Financial has a 1-year low of $30.49 and a 1-year high of $60.58. The company has a debt-to-equity ratio of 0.13, a current ratio of 0.98 and a quick ratio of 0.98. The company has a 50-day moving average price of $55.38 and a two-hundred day moving average price of $49.48. The company has a market cap of $1.59 billion, a price-to-earnings ratio of 19.26 and a beta of 0.93.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, February 5th. Shareholders of record on Monday, January 25th will be paid a $0.34 dividend. This is a boost from Lakeland Financial’s previous quarterly dividend of $0.30. The ex-dividend date is Friday, January 22nd. This represents a $1.36 annualized dividend and a yield of 2.20%. Lakeland Financial’s payout ratio is 35.50%.
A number of research firms have recently issued reports on LKFN. TheStreet upgraded shares of Lakeland Financial from a “c+” rating to a “b-” rating in a research note on Tuesday, October 20th. Zacks Investment Research cut shares of Lakeland Financial from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 6th.
About Lakeland Financial
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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