Lakeland Financial said on April 11, 2023 that its board of directors declared a regular
quarterly dividend of $0.46 per share ($1.84 annualized).
Previously, the company paid $0.46 per share.
Shares must be purchased before the ex-div date of April 24, 2023 to qualify for the dividend.
Shareholders of record as of April 25, 2023
will receive the payment on May 5, 2023.
At the current share price of $58.17 / share,
the stock’s dividend yield is 3.16%.
Looking back five years and taking a sample every week, the average dividend yield has been
2.34%,
the lowest has been 1.63%,
and the highest has been 3.71%.
The standard deviation of yields is 0.35 (n=236).
The current dividend yield is
2.32 standard deviations
above
the historical average.
Additionally, the company’s dividend payout ratio is 0.46.
The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0)
means 100% of the company’s income is paid in a dividend.
A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a
healthy situation.
Companies with few growth prospects are expected to pay out most of their income in dividends, which typically
means a payout ratio between 0.5 and 1.0.
Companies with good growth prospects are expected to retain some earnings in order to invest
in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company’s 3-Year dividend growth rate is 0.53%,
demonstrating that it has increased its dividend over time.
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What is the Fund Sentiment?
There are 489 funds or institutions reporting positions in Lakeland Financial.
This is an increase
of
15
owner(s) or 3.16% in the last quarter.
Average portfolio weight of all funds dedicated to LKFN is 0.14%,
a decrease
of 15.73%.
Total shares owned by institutions decreased
in the last three months by 1.53% to 25,122K shares.
The put/call ratio of LKFN is 0.86, indicating a
bullish
outlook.
Analyst Price Forecast Suggests 28.44% Upside
As of April 6, 2023,
the average one-year price target for Lakeland Financial is $74.72.
The forecasts range from a low of $62.62 to a high of $81.90.
The average price target represents an increase of 28.44% from its latest reported closing price of $58.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Lakeland Financial
is $276MM, an increase of 17.22%.
The projected annual non-GAAP EPS
is $4.43.
What are Other Shareholders Doing?
VITNX – Vanguard Institutional Total Stock Market Index Fund Institutional Shares
holds 16K shares
representing 0.06% ownership of the company.
No change in the last quarter.
Wells Fargo
holds 161K shares
representing 0.62% ownership of the company.
No change in the last quarter.
Charles Schwab Investment Management
holds 226K shares
representing 0.87% ownership of the company.
In it’s prior filing, the firm reported owning 212K shares, representing
an increase
of 5.99%.
The firm
decreased
its portfolio allocation in LKFN by 4.08% over the last quarter.
IRSIX – Voya RussellTM Small Cap Index Portfolio DV
holds 10K shares
representing 0.04% ownership of the company.
No change in the last quarter.
SCHB – Schwab U.S. Broad Market ETF
holds 13K shares
representing 0.05% ownership of the company.
In it’s prior filing, the firm reported owning 13K shares, representing
an increase
of 0.74%.
The firm
increased
its portfolio allocation in LKFN by 1.53% over the last quarter.
Lakeland Financial Background Information
(This description is provided by the company.)
Lakeland Financial Corp is a bank holding company. It provides commercial, retail, wealth advisory and investment management services. Lakeland offers a broad array of products and services throughout its Northern and Central Indiana markets.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
