Lakeland Financial
Market Cap
US$1.5b
Last Updated
2021/01/18 23:06 UTC
Data Sources
Company Financials +
Executive Summary
Lakeland Financial Corporation operates as the bank holding company for Lake City Bank that provides various banking products and services. More Details
Rewards
Risk Analysis
Earnings are forecast to decline by an average of 0.4% per year for the next 3 years
Snowflake Analysis
Flawless balance sheet established dividend payer.
Similar Companies
Share Price & News
How has Lakeland Financial's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: LKFN is less volatile than 75% of US stocks over the past 3 months, typically moving +/- 5% a week.
Volatility Over Time: LKFN's weekly volatility (5%) has been stable over the past year.
Market Performance
7 Day Return
1.5%
LKFN
-0.4%
US Banks
-0.4%
US Market
1 Year Return
22.0%
LKFN
-7.3%
US Banks
19.5%
US Market
Return vs Industry: LKFN exceeded the US Banks industry which returned -7.2% over the past year.
Return vs Market: LKFN exceeded the US Market which returned 19.6% over the past year.
Shareholder returns
| LKFN | Industry | Market | |
|---|---|---|---|
| 7 Day | 1.5% | -0.4% | -0.4% |
| 30 Day | 15.4% | 13.4% | 2.3% |
| 90 Day | 28.2% | 38.1% | 12.7% |
| 1 Year | 25.4%22.0% | -3.8%-7.3% | 22.3%19.5% |
| 3 Year | 26.8%17.7% | 0.9%-7.7% | 44.4%34.8% |
| 5 Year | 149.3%123.4% | 93.5%69.0% | 128.7%103.3% |
Long-Term Price Volatility Vs. Market
How volatile is Lakeland Financial's share price compared to the market and industry in the last 5 years?
Simply Wall St News
2 days ago | Simply Wall St
Lakeland Financial (NASDAQ:LKFN) Could Be A Buy For Its Upcoming Dividend1 week ago | Simply Wall St
Did You Participate In Any Of Lakeland Financial's (NASDAQ:LKFN) Fantastic 137% Return ?1 month ago | Simply Wall St
What You Need To Know About Lakeland Financial Corporation's (NASDAQ:LKFN) Investor CompositionValuation
Is Lakeland Financial undervalued compared to its fair value and its price relative to the market?
5.3%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LKFN ($59.84) is trading below our estimate of fair value ($63.17)
Significantly Below Fair Value: LKFN is trading below fair value, but not by a significant amount.
Price To Earnings Ratio
PE vs Industry: LKFN is poor value based on its PE Ratio (18.6x) compared to the US Banks industry average (12.3x).
PE vs Market: LKFN is good value based on its PE Ratio (18.6x) compared to the US market (21x).
Price to Earnings Growth Ratio
PEG Ratio: LKFN's earnings are forecast to decline next year, so we can't calculate its PEG ratio.
Price to Book Ratio
PB vs Industry: LKFN is overvalued based on its PB Ratio (2.4x) compared to the US Banks industry average (1x).
Next Steps
Future Growth
How is Lakeland Financial forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-0.4%
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: LKFN's earnings are forecast to decline over the next 3 years (-0.4% per year).
Earnings vs Market: LKFN's earnings are forecast to decline over the next 3 years (-0.4% per year).
High Growth Earnings: LKFN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: LKFN's revenue (2.6% per year) is forecast to grow slower than the US market (10.3% per year).
High Growth Revenue: LKFN's revenue (2.6% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: LKFN's Return on Equity is forecast to be low in 3 years time (11.4%).
Next Steps
Past Performance
How has Lakeland Financial performed over the past 5 years?
14.4%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LKFN has high quality earnings.
Growing Profit Margin: LKFN's current net profit margins (43.3%) are lower than last year (43.9%).
Past Earnings Growth Analysis
Earnings Trend: LKFN's earnings have grown by 14.4% per year over the past 5 years.
Accelerating Growth: LKFN's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: LKFN had negative earnings growth (-5%) over the past year, making it difficult to compare to the Banks industry average (-4.4%).
Return on Equity
High ROE: LKFN's Return on Equity (12.9%) is considered low.
Next Steps
Financial Health
How is Lakeland Financial's financial position? (This company is analysed differently as a bank or financial institution)
Financial Position Analysis
Debt to Equity History and Analysis
Balance Sheet
Financial Institutions Analysis
Asset Level: LKFN's Assets to Equity ratio (8.7x) is low.
Allowance for Bad Loans: LKFN has a sufficient allowance for bad loans (450%).
Low Risk Liabilities: 97% of LKFN's liabilities are made up of primarily low risk sources of funding.
Loan Level: LKFN has an appropriate level of Loans to Assets ratio (82%).
Low Risk Deposits: LKFN's Loans to Deposits ratio (95%) is appropriate.
Level of Bad Loans: LKFN has an appropriate level of bad loans (0.3%).
Next Steps
Dividend
What is Lakeland Financial current dividend yield, its reliability and sustainability?
2.27%
Current Dividend Yield
Upcoming Dividend Payment
Dividend Yield vs Market
Notable Dividend: LKFN's dividend (2.27%) is higher than the bottom 25% of dividend payers in the US market (1.39%).
High Dividend: LKFN's dividend (2.27%) is low compared to the top 25% of dividend payers in the US market (3.85%).
Stability and Growth of Payments
Stable Dividend: LKFN's dividends per share have been stable in the past 10 years.
Growing Dividend: LKFN's dividend payments have increased over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (37.4%), LKFN's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: LKFN's dividends in 3 years are forecast to be well covered by earnings (39.8% payout ratio).
Next Steps
Management
How experienced are the management team and are they aligned to shareholders interests?
6.8yrs
Average management tenure
CEO
David Findlay (58 yo)
6.75yrs
Tenure
US$1,581,988
Compensation
Mr. David M. Findlay has been the Chief Executive Officer and President at Lakeland Financial Corp. and its subsidiary Lake City Bank since April 8, 2014 and September 2010 respectively. Mr. Findlay served...
CEO Compensation Analysis
Compensation vs Market: David's total compensation ($USD1.58M) is below average for companies of similar size in the US market ($USD3.88M).
Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.
Leadership Team
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.75yrs | US$1.58m | 0.76% $ 11.4m | |
| Executive VP & CFO | 6.75yrs | US$590.48k | 0.11% $ 1.6m | |
| Executive VP & Chief Administrative Officer | 3.25yrs | US$660.90k | 0.070% $ 1.1m | |
| Retail Banking Advisor | no data | US$622.25k | 0.20% $ 3.0m | |
| Executive Vice President of Commercial Banking | 18.75yrs | US$716.31k | 0.12% $ 1.8m | |
| Chief Accounting Officer & Senior VP of Finance | 1.83yrs | no data | 0.0014% $ 21.6k | |
| Senior VP | no data | no data | 0.011% $ 161.3k | |
| Senior VP & Chief Human Resource Officer | no data | no data | no data | |
| Senior Vice President of Wealth Advisory Group & Brokerage | 10.92yrs | no data | 0.041% $ 623.2k | |
| Executive VP & Chief Credit Officer | 9.5yrs | US$361.53k | 0.061% $ 920.3k | |
| Senior VP & Retail Banking Manager | 2yrs | no data | 0.0089% $ 135.2k | |
| Senior Vice President of Consumer & Home Loans | no data | no data | no data |
6.8yrs
Average Tenure
55yo
Average Age
Experienced Management: LKFN's management team is seasoned and experienced (6.8 years average tenure).
Board Members
| Name | Position | Tenure | Compensation | Ownership |
|---|---|---|---|---|
| President | 6.75yrs | US$1.58m | 0.76% $ 11.4m | |
| Independent Chairman | 17.5yrs | US$132.64k | 0.92% $ 14.0m | |
| Independent Director | 14yrs | US$102.64k | 0.080% $ 1.2m | |
| Independent Director | 23yrs | US$102.64k | 0.67% $ 10.1m | |
| Independent Director | 21yrs | US$102.64k | 0.12% $ 1.8m | |
| Independent Director | 19yrs | US$92.64k | 0.11% $ 1.7m | |
| Independent Director | 19yrs | US$92.64k | 0.050% $ 754.8k | |
| Independent Director | 10.5yrs | US$102.64k | 0.086% $ 1.3m | |
| Independent Director | 9.42yrs | US$92.64k | 0.065% $ 979.2k | |
| Independent Director | 10.25yrs | US$92.64k | 0.099% $ 1.5m | |
| Independent Director | 9.5yrs | US$107.64k | 0.22% $ 3.3m | |
| Independent Director | 9.25yrs | US$92.64k | 0.077% $ 1.2m |
12.3yrs
Average Tenure
59yo
Average Age
Experienced Board: LKFN's board of directors are seasoned and experienced ( 12.3 years average tenure).
Ownership
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: LKFN insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Top Shareholders
Company Information
Lakeland Financial Corporation's company bio, employee growth, exchange listings and data sources
Key Information
- Name: Lakeland Financial Corporation
- Ticker: LKFN
- Exchange: NasdaqGS
- Founded: 1872
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$1.510b
- Shares outstanding: 25.24m
- Website: https://www.lakecitybank.com
Number of Employees
Location
- Lakeland Financial Corporation
- 202 East Center Street
- PO Box 1387
- Warsaw
- Indiana
- 46581-1387
- United States
Listings
| Ticker | Exchange | Primary Security | Security Type | Country | Currency | Listed on |
|---|---|---|---|---|---|---|
| LKFN | NasdaqGS (Nasdaq Global Select) | Yes | Common Stock | US | USD | Dec 1993 |
Biography
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...
Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2021/01/18 23:06 |
| End of Day Share Price | 2021/01/15 00:00 |
| Earnings | 2020/09/30 |
| Annual Earnings | 2019/12/31 |
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.