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1. Company Snapshot

1.a. Company Description

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 bearing, interest-bearing checking, savings, money market, NOW, and demand deposits.Its loan products include commercial and industrial, commercial real estate and multi-family residential, agri-business and agricultural, consumer 1-4 family mortgage, and other consumer loans.


The company also offers retail and merchant credit card services; corporate treasury management, wealth advisory, and trust services; retail brokerage services, including various financial and investment products, such as annuities and life insurance; and mobile business banking and on-line treasury management services.It serves commercial real estate, manufacturing, agriculture, construction, retail, wholesale, finance and insurance, accommodation and food services, and health care industries.As of December 31, 2021, the company operated 51 offices in fifteen counties, including 45 offices in northern Indiana and six offices in central Indiana.


Lakeland Financial Corporation was founded in 1872 and is headquartered in Warsaw, Indiana.

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1.b. Last Insights on LKFN

Negative drivers behind Lakeland Financial Corporation's recent performance include a 14% decrease in net income and a 14% decline in diluted earnings per share compared to the same period last year. The company's Q1 earnings of $0.78 per share missed the Zacks Consensus Estimate of $0.87 per share, indicating a shortfall in earnings expectations. Additionally, net income decreased by $4.1 million, or 17%, on a linked quarter basis, further exacerbating the negative trend.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Lakeland Financial Corporation $LKFN Shares Sold by Ensign Peak Advisors Inc

Dec -01

Source: defenseworld.net

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Bank of New York Mellon Corp Decreases Holdings in Lakeland Financial Corporation $LKFN

Nov -19

Source: defenseworld.net

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Lakeland Financial Corporation $LKFN Shares Sold by Campbell & CO Investment Adviser LLC

Nov -18

Source: defenseworld.net

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Enterprise Financial Services (NASDAQ:EFSC) & Lakeland Financial (NASDAQ:LKFN) Head-To-Head Survey

Nov -15

Source: defenseworld.net

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Lakeland Financial Corporation $LKFN Stock Position Cut by Mutual of America Capital Management LLC

Oct -31

Source: defenseworld.net

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Lakeland Financial Corporation $LKFN Shares Sold by AlphaQuest LLC

Oct -30

Source: defenseworld.net

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Lakeland Financial (LKFN) Q3 Earnings: How Key Metrics Compare to Wall Street Estimates

Oct -27

Source: zacks.com

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Lakeland Financial (LKFN) Q3 Earnings and Revenues Surpass Estimates

Oct -27

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (3.00%)

6. Segments

Banking and Related Activities

Expected Growth: 3.0%

Lakeland Financial Corporation's 3.0% growth in Banking and Related Activities is driven by increasing loan demand, expansion of commercial banking services, and strategic acquisitions. Additionally, the corporation's focus on digital transformation, cost savings initiatives, and a favorable interest rate environment have contributed to its growth.

7. Detailed Products

Commercial Banking

Lakeland Financial Corporation offers a range of commercial banking services, including cash management, treasury management, and commercial lending, to help businesses manage their finances and achieve their goals.

Wealth Advisory

Lakeland Financial Corporation's wealth advisory services provide personalized financial planning, investment management, and trust services to help individuals and families achieve their long-term financial goals.

Mortgage Lending

Lakeland Financial Corporation offers a range of mortgage lending options, including residential and commercial mortgages, to help individuals and businesses finance their property purchases.

Treasury Management

Lakeland Financial Corporation's treasury management services provide businesses with cash management solutions, including account management, payment processing, and fraud protection.

Insurance Services

Lakeland Financial Corporation's insurance services provide individuals and businesses with a range of insurance products, including life insurance, disability insurance, and long-term care insurance.

8. Lakeland Financial Corporation's Porter Forces

Forces Ranking

Threat Of Substitutes

Lakeland Financial Corporation operates in a highly competitive industry, with many substitutes available to customers. However, the company's strong brand recognition and customer loyalty mitigate the threat of substitutes to some extent.

Bargaining Power Of Customers

Lakeland Financial Corporation's customers have significant bargaining power due to the availability of alternative financial institutions and products. This forces the company to maintain competitive pricing and high-quality services to retain customers.

Bargaining Power Of Suppliers

Lakeland Financial Corporation has a diverse supplier base, which reduces the bargaining power of individual suppliers. The company's strong financial position also gives it negotiating power in supplier relationships.

Threat Of New Entrants

While there are barriers to entry in the financial services industry, new entrants can still disrupt the market. Lakeland Financial Corporation must continue to innovate and improve its services to stay competitive.

Intensity Of Rivalry

The financial services industry is highly competitive, with many established players and new entrants vying for market share. Lakeland Financial Corporation must focus on differentiating itself through its products, services, and customer experience to maintain its market position.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 13.42%
Debt Cost 7.40%
Equity Weight 86.58%
Equity Cost 7.40%
WACC 7.40%
Leverage 15.51%

11. Quality Control: Lakeland Financial Corporation passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Lakeland Financial

A-Score: 5.7/10

Value: 4.4

Growth: 5.7

Quality: 6.9

Yield: 5.0

Momentum: 4.5

Volatility: 7.7

1-Year Total Return ->

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SB Financial Group

A-Score: 5.7/10

Value: 6.9

Growth: 4.0

Quality: 6.5

Yield: 6.0

Momentum: 4.0

Volatility: 6.7

1-Year Total Return ->

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First Bancshares

A-Score: 5.5/10

Value: 5.5

Growth: 4.7

Quality: 6.9

Yield: 4.0

Momentum: 6.0

Volatility: 6.0

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Camden National

A-Score: 5.5/10

Value: 5.2

Growth: 5.1

Quality: 4.1

Yield: 8.0

Momentum: 3.5

Volatility: 7.0

1-Year Total Return ->

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OceanFirst

A-Score: 5.4/10

Value: 4.8

Growth: 4.8

Quality: 4.6

Yield: 8.0

Momentum: 4.0

Volatility: 6.3

1-Year Total Return ->

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Eagle Bancorp

A-Score: 5.4/10

Value: 9.1

Growth: 4.2

Quality: 4.2

Yield: 8.0

Momentum: 3.0

Volatility: 3.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

58.27$

Current Price

58.27$

Potential

-0.00%

Expected Cash-Flows