Lakeland Financial Corporation (NASDAQ:LKFN) recently unveiled its financial performance for the second quarter of 2023, ending on June 30. The company reported earnings of $0.57 per share, marking a significant decline of 43% compared to the earnings of $1.00 per share during the same period last year. This news has sparked interest among investors and analysts, who eagerly await the company’s next earnings report scheduled for July 23, 2023.
Lakeland Financial Corporation
LKFN
Strong Buy
Updated on: 03/12/2023
Financial Health
Very Healthy
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
ROE: Neutral
Analyzing LKFNs Stock Performance, Earnings, and Revenue Growth: A Look into Lake City Financial Corporations Financial Outlook
LKFN (Lake City Financial Corporation) is a regional bank operating in the finance sector with its corporate headquarters in Warsaw, Indiana. On July 21, 2023, LKFN stock had a previous close of $55.42 and opened at $55.07. Throughout the day, the stock had a trading range of $54.14 to $55.41. The trading volume for the day was 9,534 shares, significantly lower than the average volume of 169,611 shares over the past three months. LKFN has a market capitalization of $1.3 billion.
In terms of earnings growth, LKFN experienced a positive growth rate of 8.22% in the previous year. However, this year, it has seen a decline in earnings growth, with a rate of -10.27%. Looking ahead, analysts predict a positive trend in the next five years, with an expected earnings growth rate of 10.00%.
LKFN has also shown strong revenue growth, with a growth rate of 19.45% in the previous year. This indicates a healthy performance in generating income. The company has a price-to-earnings (P/E) ratio of 13.6, which suggests that investors are willing to pay $13.6 for every dollar of earnings. The price-to-sales ratio is 6.67, indicating that investors are valuing the company at $6.67 for every dollar of sales. The price-to-book ratio is 2.28, which signifies that investors are willing to pay $2.28 for every dollar of book value.
On July 21, 2023, LKFN stock experienced a decline of $0.66, resulting in a percentage change of -2.01%. This decrease in stock price is in line with the overall trend in the market, as other regional banks such as Heartland Financial (HTLF), First Bancorp (FBNC), Trustmark Corp (TRMK), and First Commonwealth Financial (FCF) also saw declines in their stock prices.
Looking ahead, LKFN’s next reporting date is scheduled for October 25, 2023. Analysts forecast an earnings per share (EPS) of $0.90 for the current quarter. In the previous year, LKFN reported an annual revenue of $281.2 million and a profit of $103.8 million, resulting in a net profit margin of 36.91%.
Overall, LKFN’s stock performance on July 21, 2023, indicated a decline in price. However, the company has shown positive growth in earnings and revenue in the previous year, with expectations of continued growth in the next five years. Investors should keep an eye on LKFN’s upcoming earnings report on October 25, 2023, to gain further insights into the company’s financial performance.
LKFN Stock Analysis: Mixed Performance on July 21, 2023, with Neutral Sentiment Among Analysts
LKFN stock had a mixed performance on July 21, 2023, with a median target price of $54.00, a high estimate of $66.00, and a low estimate of $52.00. This suggests a decrease of -1.87% from the last price of $55.03. The lack of available recommendations indicates a neutral sentiment among analysts. Lakeland Financial Corp reported earnings per share of $0.91 and sales of $62.3 million for the current quarter. Investors should watch for the upcoming reporting date on July 24 for more detailed information. It is important to conduct further research and consider other factors before making investment decisions.
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