Lakeland Financial
Market Cap
US$1.2b
Last Updated
2019/12/14 23:41 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.
Rewards
Risk Analysis
Earnings are forecast to decline by an average of -1.4% 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 has not had significant price volatility in the past 3 months.
Market Performance
7 Day Return
2.0%
LKFN
1.4%
US Banks
0.7%
US Market
1 Year Return
17.4%
LKFN
26.9%
US Banks
21.1%
US Market
Return vs Industry: LKFN underperformed the US Banks industry which returned 26.9% over the past year.
Return vs Market: LKFN underperformed the US Market which returned 21.1% over the past year.
Shareholder returns
| LKFN | Industry | Market | |
|---|---|---|---|
| 7 Day | 2.0% | 1.4% | 0.7% |
| 30 Day | 3.5% | 4.0% | 2.3% |
| 90 Day | 5.3% | 9.8% | 5.0% |
| 1 Year | 20.4%17.4% | 30.7%26.9% | 23.7%21.1% |
| 3 Year | 10.7%3.7% | 34.0%24.6% | 47.0%37.4% |
| 5 Year | 95.5%75.0% | 75.7%56.1% | 65.7%47.5% |
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
6 days ago | Simply Wall St
Have Insiders Been Selling Lakeland Financial Corporation (NASDAQ:LKFN) Shares?2 weeks ago | Simply Wall St
Should You Be Adding Lakeland Financial (NASDAQ:LKFN) To Your Watchlist Today?1 month ago | Simply Wall St
What Does Lakeland Financial Corporation's (NASDAQ:LKFN) P/E Ratio Tell You?Valuation
Is Lakeland Financial undervalued compared to its fair value and its price relative to the market?
29.9%
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: LKFN ($48.35) is trading below our estimate of fair value ($68.98)
Significantly Below Fair Value: LKFN is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: LKFN is poor value based on its PE Ratio (14.3x) compared to the Banks industry average (12.9x).
PE vs Market: LKFN is good value based on its PE Ratio (14.3x) compared to the US market (18.6x).
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 (2.1x) compared to the US Banks industry average (1.2x).
Next Steps
Future Growth
How is Lakeland Financial forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?
-1.4%
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 (-1.4% per year).
Earnings vs Market: LKFN's earnings are forecast to decline over the next 3 years (-1.4% per year).
High Growth Earnings: LKFN's earnings are forecast to decline over the next 3 years.
Revenue vs Market: LKFN's revenue (2.1% per year) is forecast to grow slower than the US market (7.4% per year).
High Growth Revenue: LKFN's revenue (2.1% 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 (12.8%).
Next Steps
Past Performance
How has Lakeland Financial performed over the past 5 years?
15.2%
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: LKFN has high quality earnings.
Growing Profit Margin: LKFN's current net profit margins (43.9%) are higher than last year (39.5%).
Past Earnings Growth Analysis
Earnings Trend: LKFN's earnings have grown by 15.2% per year over the past 5 years.
Accelerating Growth: LKFN's earnings growth over the past year (22%) exceeds its 5-year average (15.2% per year).
Earnings vs Industry: LKFN earnings growth over the past year (22%) underperformed the Banks industry 27.1%.
Return on Equity
High ROE: LKFN's Return on Equity (14.8%) is considered low.
Return on Assets
Return on Capital Employed
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
Inventory Level: LKFN has a low level of unsold assets or inventory.
Debt Coverage by Assets: LKFN's debt is covered by short term assets (assets are 5.2x debt).
Financial Institutions Analysis
Asset Level: LKFN's level of assets compared to its equity is low.
Allowance for Bad Loans: LKFN has a sufficient allowance for bad loans.
Low Risk Liabilities: LKFN's liabilities are made up of primarily low risk sources of funding.
Loan Level: LKFN has an acceptable proportion of non-loan assets held.
Low Risk Deposits: LKFN's loans are broadly funded by customer deposits.
Level of Bad Loans: LKFN has an appropriate level of bad loans (0.47%)
Next Steps
Dividend
What is Lakeland Financial's current dividend yield, its reliability and sustainability?
2.48%
Current Dividend Yield
Dividend Yield vs Market
Current dividend yield vs market & industry
Notable Dividend: LKFN's dividend (2.48%) is higher than the bottom 25% of dividend payers in the US market (1.43%).
High Dividend: LKFN's dividend (2.48%) is low compared to the top 25% of dividend payers in the US market (3.71%).
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 (34.3%), 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 (39.2% payout ratio).
Next Steps
Management
What is the CEO of Lakeland Financial's salary, the management and board of directors tenure and is there insider trading?
5.7yrs
Average management tenure
CEO
David Findlay (57yo)
5.7yrs
Tenure
US$1,604,171
Compensation
Mr. David M. Findlay has been the Chief Executive Officer and President at Lakeland Financial Corp. and its subsidiary Lake City Bank since April 8, 2014 and September 2010 respectively. Mr. Findlay served ...
CEO Compensation Analysis
Compensation vs Market: David's total compensation ($USD1.60M) is below average for companies of similar size in the US market ($USD3.87M).
Compensation vs Earnings: David's compensation has been consistent with company performance over the past year.
Management Age and Tenure
5.7yrs
Average Tenure
51yo
Average Age
Experienced Management: LKFN's management team is seasoned and experienced (5.7 years average tenure).
Board Age and Tenure
9.3yrs
Average Tenure
61.5yo
Average Age
Experienced Board: LKFN's board of directors are considered experienced (9.3 years average tenure).
Insider Trading
Insider Buying: LKFN insiders have only sold shares in the past 3 months.
Recent Insider Transactions
| Entity | Individual |
| Shares | 399 |
| Max Price | US$47.03 |
| Entity | Individual |
| Role | Senior Key Executive Executive Vice President |
| Shares | 1,812 |
| Max Price | US$43.96 |
| Entity | Individual |
| Role | Senior Key Executive Executive Vice President |
| Shares | 3,870 |
| Max Price | US$43.96 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 500 |
| Max Price | US$43.03 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP & CFO |
| Shares | 500 |
| Max Price | US$41.58 |
| Entity | Individual |
| Role | Chairman of the Board Chairman |
| Shares | 10,944 |
| Max Price | US$43.23 |
| Entity | Individual |
| Role | Lead Director Lead Independent Director |
| Shares | 10,000 |
| Max Price | US$42.51 |
| Entity | Individual |
| Role | Chief Financial Officer Executive VP & CFO |
| Shares | 500 |
| Max Price | US$44.81 |
| Entity | Individual |
| Role | Chief Administrative Officer Executive VP |
| Shares | 1,600 |
| Max Price | US$46.00 |
| Entity | Individual |
| Role | Head of Human Resources Senior VP & People Development Director |
| Shares | 4,200 |
| Max Price | US$48.00 |
| Entity | Individual |
| Role | Senior Key Executive Executive VP & Head of Commercial Banking |
| Shares | 2,276 |
| Max Price | US$47.92 |
| Entity | Individual |
| Role | Chief Administrative Officer Executive VP |
| Shares | 1,500 |
| Max Price | US$48.41 |
| Entity | Individual |
| Role | Member of the Board of Directors Independent Director |
| Shares | 2,100 |
| Max Price | US$45.66 |
| Entity | Individual |
| Role | Senior Key Executive Senior Vice President of Wealth Advisory Group & Brokerage |
| Shares | 1,991 |
| Max Price | US$45.20 |
| Entity | Individual |
| Shares | 5,000 |
| Max Price | US$45.45 |
| Entity | Individual |
| Role | Head of Human Resources Senior VP & People Development Director |
| Shares | 3,672 |
| Max Price | US$45.39 |
Ownership Breakdown
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
Management Team
David Findlay (57yo)
President
- Tenure: 5.7yrs
- Compensation: US$1.60m
Kevin Deardorff (57yo)
Executive Vice President
- Tenure: 0yrs
- Compensation: US$611.01k
Jill DeBatty
Senior VP & People Development Director
- Tenure: 0yrs
Lisa O'Neill (51yo)
Executive VP & CFO
- Tenure: 5.7yrs
- Compensation: US$603.37k
Kristin Pruitt (47yo)
Executive VP
- Tenure: 2.2yrs
- Compensation: US$647.26k
Eric Ottinger (49yo)
Executive VP & Head of Commercial Banking
- Tenure: 17.7yrs
- Compensation: US$725.23k
Jon Steiner (57yo)
Senior Vice President of Wealth Advisory Group & Brokerage
- Tenure: 9.8yrs
Brok Lahrman (33yo)
Chief Accounting Officer & Senior VP of Finance
- Tenure: 0.8yrs
Stephanie Leniski
Senior VP & Retail Banking Manager
- Tenure: 0.9yrs
Board Members
David Findlay (57yo)
President
- Tenure: 5.7yrs
- Compensation: US$1.60m
Mike Kubacki (67yo)
Chairman
- Tenure: 16.4yrs
- Compensation: US$138.91k
Tom Hiatt (71yo)
Independent Director
- Tenure: 12.9yrs
- Compensation: US$108.91k
M. Welch (59yo)
Lead Independent Director
- Tenure: 7.3yrs
- Compensation: US$108.91k
Steven Ross (64yo)
Independent Director
- Tenure: 19.9yrs
- Compensation: US$108.91k
Emily Pichon (55yo)
Independent Director
- Tenure: 17.9yrs
- Compensation: US$98.91k
Dan Evans (69yo)
Independent Director
- Tenure: 9.4yrs
- Compensation: US$108.91k
Blake Augsburger (56yo)
Independent Director
- Tenure: 8.3yrs
- Compensation: US$98.91k
Ron Truex (68yo)
Independent Director
- Tenure: 9.2yrs
- Compensation: US$98.91k
Brian Smith (54yo)
Independent Director
- Tenure: 8.4yrs
- Compensation: US$113.91k
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$1.239b
- Shares outstanding: 25.62m
- Website: https://www.lakecitybank.com
Number of Employees
Location
- Lakeland Financial Corporation
- 202 East Center Street
- PO Box 1387
- Warsaw
- Indiana
- 46581
- 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 | 2019/12/14 23:41 |
| End of Day Share Price | 2019/12/13 00:00 |
| Earnings | 2019/09/30 |
| Annual Earnings | 2018/12/31 |
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.