Lakeland Financial Corp reports results for the quarter ended June 30 - Earnings Summary

• Lakeland Financial Corp LKFN.OQ reported quarterly adjusted earnings of $1.04​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 87 cents. The mean expectation of five analysts for the quarter was for earnings of 97 cents per share. Wall Street expected results to range from 91 cents to $1.02 per share.

• Revenue fell 3.5% to $66.36 million from a year ago; analysts expected $67.02 million.

• Lakeland Financial Corp's reported EPS for the quarter was $1.04​.

• The company reported quarterly net income of $26.97 million.

• Lakeland Financial Corp shares had risen by 3.8% this quarter and lost 7.3% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 1.4% in the last three months.​

• In the last 30 days, there have been no negative revisions of earnings estimates

RECOMMENDATIONS

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy," 3 "hold" and no "sell" or "strong sell." The average consensus recommendation for the banks peer group is "buy."

• Wall Street's median 12-month price target for Lakeland Financial Corp is $65.00, about 1.1% above its last closing price of $64.26

This summary was machine generated from LSEG data July 25 at 12:01 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)