Lakeland Financial Corporation (LKFN) Plans $0.22 Quarterly Dividend

Lakeland Financial Corporation (NASDAQ:LKFN) declared a quarterly dividend on Thursday, October 12th, Wall Street Journal reports. Stockholders of record on Wednesday, October 25th will be given a dividend of 0.22 per share by the financial services provider on Monday, November 6th. This represents a $0.88 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, October 24th.

Lakeland Financial Corporation (LKFN) opened at 48.27 on Friday. Lakeland Financial Corporation has a 12-month low of $33.98 and a 12-month high of $49.48. The stock has a market capitalization of $1.21 billion, a price-to-earnings ratio of 21.65 and a beta of 0.86. The stock’s 50 day moving average is $45.70 and its 200 day moving average is $45.02.

Lakeland Financial Corporation (NASDAQ:LKFN) last released its quarterly earnings data on Tuesday, July 25th. The financial services provider reported $0.60 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.55 by $0.05. The firm had revenue of $42.61 million during the quarter, compared to analysts’ expectations of $41.86 million. Lakeland Financial Corporation had a return on equity of 13.06% and a net margin of 30.72%. Equities research analysts forecast that Lakeland Financial Corporation will post $2.37 EPS for the current fiscal year.

In other Lakeland Financial Corporation news, Director M Scott Welch purchased 5,557 shares of the firm’s stock in a transaction on Thursday, September 7th. The shares were purchased at an average cost of $41.83 per share, with a total value of $232,449.31. Following the purchase, the director now owns 112,148 shares in the company, valued at $4,691,150.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Eric H. Ottinger sold 1,899 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $46.28, for a total value of $87,885.72. Following the completion of the sale, the insider now directly owns 21,500 shares in the company, valued at $995,020. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 10,613 shares of company stock valued at $447,131 and have sold 3,149 shares valued at $142,334. Company insiders own 5.00% of the company’s stock.

LKFN has been the subject of a number of research analyst reports. BidaskClub cut Lakeland Financial Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research cut Lakeland Financial Corporation from a “buy” rating to a “hold” rating in a research report on Friday, August 25th. Finally, ValuEngine upgraded Lakeland Financial Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the company. Lakeland Financial Corporation currently has an average rating of “Hold” and a consensus price target of $48.00.

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About Lakeland Financial Corporation

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.

Dividend History for Lakeland Financial Corporation (NASDAQ:LKFN)

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