Lakeland Financial (NASDAQ:LKFN) Issues Earnings Results

Lakeland Financial (NASDAQ:LKFN) announced its quarterly earnings data on Friday. The financial services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.89 by $0.05, Zacks reports. Lakeland Financial had a return on equity of 13.64% and a net margin of 22.85%.

Lakeland Financial Trading Down 0.7 %

Lakeland Financial stock opened at $66.38 on Friday. Lakeland Financial has a 12 month low of $57.45 and a 12 month high of $78.61. The business’s fifty day simple moving average is $70.94 and its two-hundred day simple moving average is $67.58. The company has a market capitalization of $1.69 billion, a price-to-earnings ratio of 17.24 and a beta of 0.69.

Lakeland Financial Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Saturday, January 25th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 3.01%. This is a positive change from Lakeland Financial’s previous quarterly dividend of $0.48. The ex-dividend date is Friday, January 24th. Lakeland Financial’s dividend payout ratio (DPR) is presently 51.95%.

Insider Buying and Selling at Lakeland Financial

In related news, EVP Eric H. Ottinger sold 3,959 shares of Lakeland Financial stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $73.50, for a total transaction of $290,986.50. Following the sale, the executive vice president now owns 32,475 shares of the company’s stock, valued at approximately $2,386,912.50. This trade represents a 10.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders have sold 4,150 shares of company stock worth $305,327. Company 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.