Lakeland Financial Corp
LKFN

$64.80

1.79%

Market Cap: $1.65B

About: Lakeland Financial Corp is a bank holding company. It provides commercial, retail, wealth advisory, and investment management services. Lakeland offers a broad range of products and services throughout its Northern and Central Indiana markets. The company offers commercial and consumer banking services, as well as trust and wealth management, brokerage, and treasury management commercial services. It serves a wide variety of industries including, among others, commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and healthcare.

Employees: 655

Financials State Commercial Banks

0

Funds holding %

of 6,686 funds

–

Analysts bullish %

Fund manager confidence

Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)

168% more call options, than puts

Call options by funds: $166K | Put options by funds: $62K

50% more funds holding in top 10

Funds holding in top 10: 2 [Q1] → 3 (+1) [Q2]

4% more repeat investments, than reductions

Existing positions increased: 78 | Existing positions reduced: 75

0.57% more ownership

Funds ownership: 82.62% [Q1] → 83.19% (+0.57%) [Q2]

2% less funds holding

Funds holding: 222 [Q1] → 217 (-5) [Q2]

8% less capital invested

Capital invested by funds: $1.42B [Q1] → $1.3B (-$117M) [Q2]

19% less first-time investments, than exits

New positions opened: 21 | Existing positions closed: 26

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Research analyst outlook

1 Wall Street Analyst provided 1 year price targets over the past 3 months

Low target

$65

0%

upside

Avg. target

$65

0%

upside

High target

$65

0%

upside

1 analyst rating

0 positive

0%

1 neutral

100%

0 negative

0%

Keefe, Bruyette & Woods

Damon Delmonte

43% 1-year accuracy

6 / 14 met price target

0%upside

$65

Market Perform

Maintained

29 Jul 2024

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Financial journalist opinion

Lake City Bank Expands Downtown Campus with Building Acquisition to become the Innovation and Technology Center

WARSAW, Ind., Sept. 03, 2024 (GLOBE NEWSWIRE) -- Lake City Bank has purchased the 35,600 square foot three story office building at 122 E. Center Street, Warsaw, IN on August 30, 2024. The office building will significantly expand the bank's Warsaw Campus and support the continued growth of Lake City Bank. The newly acquired building will be substantially renovated and modernized and will be renamed the Lake City Bank Innovation and Technology Center. Lake City Bank has been headquartered in Warsaw since the bank was founded in 1872 and employs 279 employees in the Downtown Warsaw Campus, representing the largest employer in Downtown Warsaw.

Lake City Bank Expands Downtown Campus with Building Acquisition to become the Innovation and Technology Center

Zacks Investment Research

Compared to Estimates, Lakeland Financial (LKFN) Q2 Earnings: A Look at Key Metrics

While the top- and bottom-line numbers for Lakeland Financial (LKFN) give a sense of how the business performed in the quarter ended June 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Compared to Estimates, Lakeland Financial (LKFN) Q2 Earnings: A Look at Key Metrics

Zacks Investment Research

Lakeland Financial (LKFN) Misses Q2 Earnings Estimates

Lakeland Financial (LKFN) came out with quarterly earnings of $0.74 per share, missing the Zacks Consensus Estimate of $0.85 per share. This compares to earnings of $0.57 per share a year ago.

Lakeland Financial (LKFN) Misses Q2 Earnings Estimates

Lakeland Financial Reports Second Quarter Net Income of $22.5 million, and Reaches $5.0 Billion in Total Loans, Representing 5% Annual Average Loan Growth

WARSAW, Ind., July 25, 2024 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $22.5 million for the three months ended June 30, 2024, which represents an increase of $7.9 million, or 54%, compared with net income of $14.6 million for the three months ended June 30, 2023. Diluted earnings per share were $0.87 for the second quarter of 2024 and increased 53% compared to $0.57 for the second quarter of 2023. On a linked quarter basis, net income decreased $852,000, or 4%, from first quarter 2024 net income of $23.4 million and diluted earnings per share decreased $0.04 or 4% from $0.91 at March 31, 2024.

Lakeland Financial Reports Second Quarter Net Income of $22.5 million, and Reaches $5.0 Billion in Total Loans, Representing 5% Annual Average Loan Growth

Zacks Investment Research

Lakeland Financial (LKFN) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

While the top- and bottom-line numbers for Lakeland Financial (LKFN) give a sense of how the business performed in the quarter ended March 2024, it could be worth looking at how some of its key metrics compare to Wall Street estimates and year-ago values.

Lakeland Financial (LKFN) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

Lakeland Financial Reports First Quarter Net Income of $23.4 Million and 5% Annualized Average Loan Growth

WARSAW, Ind., April 25, 2024 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $23.4 million for the three months ended March 31, 2024, which represents a decrease of $877,000, or 4%, compared with net income of $24.3 million for the three months ended March 31, 2023. Diluted earnings per share were $0.91 for the first quarter of 2024 and decreased 3% compared to $0.94 for the first quarter of 2023. On a linked quarter basis, net income decreased $6.2 million, or 21%, from fourth quarter 2023 net income of $29.6 million. Diluted earnings per share decreased from $1.16, or 22%.

Lakeland Financial Reports First Quarter Net Income of $23.4 Million and 5% Annualized Average Loan Growth

Lake City Bank to Participate in the KBW Winter Financial Services Conference

WARSAW, Ind., Feb. 07, 2024 (GLOBE NEWSWIRE) -- Lake City Bank, the single bank subsidiary of Lakeland Financial Corporation (Nasdaq Global Select/LKFN), announced today that David Findlay, Chairman and CEO; Kristin Pruitt, President and Lisa O'Neill, EVP and CFO will participate in the Keefe, Bruyette & Woods Winter Financial Services Conference to be held February 14 to 16, where they will participate in a series of one-on-one meetings with institutional investors.

Lake City Bank to Participate in the KBW Winter Financial Services Conference

Zacks Investment Research

Best Momentum Stocks to Buy for February 5th

MOD, EZPW and LKFN made it to the Zacks Rank #1 (Strong Buy) momentum stocks list on February 5, 2023.

Best Momentum Stocks to Buy for February 5th

Zacks Investment Research

Here's What Key Metrics Tell Us About Lakeland Financial (LKFN) Q4 Earnings

The headline numbers for Lakeland Financial (LKFN) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Here's What Key Metrics Tell Us About Lakeland Financial (LKFN) Q4 Earnings

Lakeland Financial Reports Annual Net Income of $93.8 Million and 9% Annualized Average Loan Growth

WARSAW, Ind., Jan. 25, 2024 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $93.8 million for the twelve months ended December 31, 2023, versus $103.8 million for the prior year, a decrease of 10%, or $10.1 million. Diluted earnings per share also decreased 10% to $3.65 for the twelve months ended December 31, 2023, versus $4.04 for the comparable period of 2022.

Lakeland Financial Reports Annual Net Income of $93.8 Million and 9% Annualized Average Loan Growth

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