Lakeland Financial Co. (NASDAQ:LKFN) announced a quarterly dividend on Tuesday, October 8th, Zacks reports. Shareholders of record on Friday, October 25th will be given a dividend of 0.30 per share by the financial services provider on Tuesday, November 5th. This represents a $1.20 annualized dividend and a yield of 2.81%. The ex-dividend date is Thursday, October 24th.

Lakeland Financial has increased its dividend payment by an average of 1.9% per year over the last three years and has increased its dividend every year for the last 7 years. Lakeland Financial has a dividend payout ratio of 39.2% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Lakeland Financial to earn $3.21 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 37.4%.

Shares of LKFN stock traded up $0.26 on Thursday, hitting $42.74. The stock had a trading volume of 8,962 shares, compared to its average volume of 65,814. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 13.65, a P/E/G ratio of 1.32 and a beta of 0.94. The stock’s 50 day moving average is $43.44 and its 200-day moving average is $45.26. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.98 and a current ratio of 0.98. Lakeland Financial has a 52-week low of $37.79 and a 52-week high of $49.20.

Lakeland Financial (NASDAQ:LKFN) last announced its earnings results on Thursday, July 25th. The financial services provider reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.81 by $0.04. The business had revenue of $50.00 million during the quarter, compared to the consensus estimate of $49.78 million. Lakeland Financial had a net margin of 33.35% and a return on equity of 16.03%. Equities analysts expect that Lakeland Financial will post 3.25 earnings per share for the current year.

Several research analysts have recently weighed in on LKFN shares. BidaskClub downgraded shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research note on Tuesday. ValuEngine upgraded shares of Lakeland Financial from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Zacks Investment Research downgraded shares of Lakeland Financial from a “hold” rating to a “sell” rating in a research note on Tuesday.

In related news, Director Michael L. Kubacki sold 10,944 shares of the company’s stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $43.23, for a total value of $473,109.12. Following the sale, the director now directly owns 204,934 shares of the company’s stock, valued at $8,859,296.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Kristin Pruitt sold 1,600 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $46.00, for a total transaction of $73,600.00. Following the completion of the sale, the insider now directly owns 7,494 shares in the company, valued at $344,724. The disclosure for this sale can be found here. Over the last ninety days, insiders purchased 11,000 shares of company stock worth $468,290 and sold 16,914 shares worth $738,349. Corporate insiders own 4.60% 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. 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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Dividend History for Lakeland Financial (NASDAQ:LKFN)

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