LKFN

Lakeland Financial Corporation

$58.26

-0.16

(-0.27%)

Exchange:	NASDAQ
Market Cap:	1.489B
Shares Outstanding:	17.262M

Overview

Earnings

Financials

Valuation

Chart

About The Company

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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Revenue Segmentation

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EPS

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Earnings Call

No transcript or summary available for this symbol.

Income Statement

Balance Sheet

Cash Flow Statement

Analyst Estimates

Income Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Revenue	129,814	143,197	163,668	181,696	189,637	197,987	210,134	231,923	246,893	373,158
? Cost Of Revenue	0	0	0	0	0	0	0	0	5,850	0
? Gross Profit	129,814	143,197	163,668	181,696	189,637	197,987	210,134	231,923	241,043	373,158
? Research And Development Expenses	0	0	0	0	0	0	0	0	0	0
? General And Administrative Expenses	44,140	47,263	52,052	55,120	54,443	54,213	64,386	60,529	62,510	8,950
? Selling And Marketing Expenses	3,173	3,328	4,744	5,066	4,371	3,093	4,262	5,198	0	0
? Operating Expenses	-44,002	-45,510	-44,228	-35,053	-82,252	-94,111	-92,690	6,483	246,893	8,950
? Net Interest Income	0	0	0	0	0	0	0	0	0	0
? Interest Income	122,539	138,951	165,698	198,970	215,210	193,103	193,219	239,567	343,267	0
? Interest Expense	16,612	20,470	29,806	47,699	60,163	30,095	15,131	36,680	146,232	176,479
? Depreciation And Amortization	4,311	4,229	5,119	5,654	5,930	6,042	6,105	6,020	6,173	0
? EBITDA	-2,044	-2,001	-1,798	-1,701	-638	-1,707	121,049	130,994	0	0
? EBIT
? Operating Income	85,812	97,687	119,440	146,643	107,385	103,876	117,444	161,844	101,575	364,208
? Income Before Tax	69,200	77,217	89,634	98,944	107,385	103,876	117,444	125,164	110,333	111,689
? Income Tax Expense	22,833	25,133	32,304	18,533	20,338	19,539	21,711	21,347	16,565.999	18,211
? Net Income From Continuing Operations
? Net Income	46,367	52,084	57,330	80,411	87,047	84,337	95,733	103,817	93,767	93,478
? EPS (Earnings Per Share)	1.860	2.080	2.280	3.180	3.400	3.310	3.760	4.070	3.660	3.640
? EPS Diluted	1.830	2.050	2.230	3.130	3.380	3.300	3.740	4.040	3.650	3.630
? Weighted Average Shares Outstanding	24,926.353	25,056.095	25,181.208	25,288.533	25,588.404	25,469.242	25,475.994	25,528.328	25,604.751	25,676.543
? Weighted Average Shares Outstanding Diluted	25,245.568	25,460.727	25,663.381	25,727.831	25,758.893	25,573.941	25,620.105	25,712.538	25,723.165	25,769.018
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Balance Sheet

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Cash And Cash Equivalents	80,674	167,280	176,180	216,922	99,381	249,927	683,240	130,282	151,824	6,336
? Short Term Investments	478,071	504,191	538,493	585,549	608,233	734,845	1,398,558	1,185,528	1,051,728	422,847
? Cash And Short Term Investments	558,745	671,471	714,673	802,471	707,614	984,772	2,081,798	1,315,810	151,824	6,336
? Net Receivables	9,462	11,687	14,093	15,518	0	0	0	0	0	0
? Accounts Receivables										28,446
? Inventory	0	0	0	0	-115,188	-269,104	-701,110	-158,376	0	0
? Total Current Assets	3,236,561	3,728,772	4,083,047	4,226,638	723,005	1,003,533	2,099,472	1,343,804	151,824	6,336
? Property Plant Equipment Net	46,684	52,092	56,466	58,097	60,154	59,298	59,309	58,097	57,899	0
? Goodwill	4,970	4,970	4,970	4,970	4,970	4,970	4,970	4,970	4,970	4,970
? Intangible Assets	0	0	3,000	3,300	3,800	3,500	2,400	2,700	0	0
? Long Term Investments	478,071	504,191	538,493	585,549	608,233	734,845	1,398,558	1,313,770	1,181,646	1,122,994
? Total Non Current Assets	529,725	561,253	599,929	648,616	673,357	799,113	1,462,837	1,376,837	6,341,810	1,127,964
? Total Assets	3,766,286	4,290,025	4,682,976	4,875,254	4,946,745	5,830,435	6,557,323	6,432,371	6,524,029	6,678,374
? Account Payables	3,773	5,676	6,311	10,404	11,604	5,959	2,619	3,186	20,893	15,117
? Short Term Debt	70,000	0	80,000	0	0	0	0	0	0	0
? Deferred Revenue	0	-825,479	-891,933	-957,242	-158,957	-5,122	2,024	-294,541	0	0
? Total Current Liabilities	73,773	185,676	86,311	180,404	11,604	5,959	2,619	3,186	5,353,476	15,117
? Long Term Debt	30,962	210,960	30,928	200,928	170,000	85,500	75,000	275,000	50,000	0
? Deferred Revenue Non Current	0	-35,767	0	0	0	0	0	0	0	0
? Deferred Tax Liabilities Non Current	0	11,726	0	0	0	0	0	0	0	0
? Total Non Current Liabilities	30,962	30,960	110,958	30,928	170,000	85,500	75,000	3,186	0	0
? Total Liabilities	3,373,385	3,862,958	4,214,309	4,353,550	4,348,645	5,173,251	5,852,417	5,863,484	5,874,236	5,994,463
? Treasury Stock										0
? Preferred Stock	0	0	0	0	0	0	0	0	0	0
? Common Stock	99,123	104,405	108,862	112,383	114,858	114,927	120,615	127,004	127,692	129,664
? Retained Earnings	294,002	327,873	363,794	419,179	475,247	529,005	583,134	646,100	692,760	736,412
? Additional Paid In Capital										0
? Total Stockholders Equity	392,812	426,978	468,578	521,615	598,011	657,095	704,817	568,798	649,704	683,822
? Total Equity	392,901	427,067	468,667	521,704	598,100	657,184	704,906	568,887	649,793	683,911
? Minority Interest	89	89	89	89	89	89	89	89	89	89
? Total Liabilities And Total Equity	3,766,286	4,290,025	4,682,976	4,875,254	4,946,745	5,830,435	6,557,323	6,432,371	6,524,029	6,678,374
? Total Investments	956,142	1,008,382	1,076,986	1,171,098	1,216,466	1,469,690	2,797,116	2,499,298	2,233,374	1,545,841
? Total Debt	100,962	210,960	110,958	200,928	170,000	85,500	75,000	275,000	50,000	0
? Net Debt	20,288	43,680	-65,222	-15,994	70,619	-164,427	-608,240	144,718	-101,824	-6,336
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Cash Flow Statement

(* All numbers are in thousands)

	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
? Net Income	46,367	52,084	57,330	80,411	87,047	84,337	95,733	103,817	93,767	93,478
? Depreciation And Amortization	4,311	4,827	5,718	6,157	6,458	6,814	8,387	6,777	6,173	0
? Deferred Income Tax	2,631	1,388	3,448	7,154	4,465	13,840	576	0	0	0
? Stock Based Compensation	2,535	4,210	5,698	5,608	4,187	1,790	7,158	7,811	3,653	0
? Change In Working Capital	2,068	2,371	3,371	5,180	1,801	-14,077	-2,223	30,039	3,908	0
? Accounts Receivables	-398	-1,386	787	-3,301	-4,733	-6,315	-1,852	-10,711	0	1,284
? Inventory	-3,162,788	-3,543,096	-3,996,736	-4,046,234	-6,534	7,762	371	-40,750	0	0
? Accounts Payables	2,466	3,757	2,584	8,481	6,534	-7,762	-371	40,750	0	-10,656
? Net Cash Provided By Operating Activities	55,781	62,199	77,242	104,975	100,039	87,228	113,768	169,342	113,981	102,485
? Investments In Property Plant And Equipment	-9,167	-9,825	-9,582	-7,968	-7,998	-5,719	-6,167	-4,821	-5,991	-8,634
? Acquisitions Net	-321,413	-391,117	-347,207	-101,209	-152,105	-586,719	356,668	6	0	0
? Purchases Of Investments	-91,810	-116,196	-139,252	-126,551	-129,453	-216,478	-835,001	-315,272	-7,178	-27,517
? Sales Maturities Of Investments	82,466	81,438	102,622	69,119	124,932	106,016	151,776	133,491	177,013	75,801
? Net Cash Provided By Investing Activities	0	0	0	0	0	0	0	0	0	-164,235
? Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Long Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	0
? Short Term Net Debt Issuance	0	0	0	0	0	0	0	0	0	-50,000
? Net Stock Issuance	0	0	0	0	0	0	0	0	0	-201
? Net Dividends Paid	-15,710	-18,213	-21,409	-25,291	-29,652	-30,579	-34,653	-40,851	-47,107	-49,281
? Common Dividends Paid										-49,281
? Preferred Dividends Paid	0	0	0	0	0	0	0	0	0	0
? Net Cash Provided By Financing Activities	273,362	466,855	327,708	102,209	-48,887	775,342	651,091	-95,776	-37,507	-52,297
? Effect Of Forex Changes On Cash	0	0	0	0	0	0	0	0	0	0
? Net Change In Cash	-9,964	86,606	8,900	40,742	-117,541	150,546	433,313	-552,958	21,542	-10,790
? Cash At End Of Period	80,674	167,280	176,180	216,922	99,381	249,927	683,240	130,282	151,824	6,336
? Cash At Beginning Of Period	90,638	80,674	167,280	176,180	216,922	99,381	249,927	683,240	130,282	17,126
? Operating Cash Flow	55,781	62,199	77,242	104,975	100,039	87,228	113,768	169,342	113,981	102,485
? Capital Expenditure	-9,167	-9,825	-9,582	-7,968	-7,998	-5,719	-6,167	-4,821	-5,991	-8,634
? Free Cash Flow	46,614	52,374	67,660	97,007	92,041	81,509	107,601	164,521	107,990	93,851
	USD	USD	USD	USD	USD	USD	USD	USD	USD	USD

Analyst Estimates

(* All numbers are in thousands)

Fiscal Year	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026
Estimated Revenue (Low)	172,695.893	190,751.322	199,715.662	207,237.723	225,728.073	245,690.290	244,600.433	244,058.467	259,411.412	273,056.664
Estimated Revenue (High)	175,253.534	193,576.365	202,673.468	210,306.931	229,071.125	251,239.746	245,929.708	245,384.796	260,821.177	274,540.584
Estimated Revenue (Avg)	173,720	191,882.500	200,900	208,466.667	227,066.667	247,924.333	245,217.333	244,674	260,065.667	273,745.333
Estimated Ebitda (Low)	94,873.084	118,117.891	129,455.775	86,477.484	110,195.328	116,854.517	128,539.967	55,102.881	58,569.229	61,650.018
Estimated Ebitda (High)	142,309.626	177,176.837	194,183.663	129,716.228	165,292.994	175,281.779	192,809.956	55,402.336	58,887.522	61,985.053
Estimated Ebitda (Avg)	118,591.355	147,647.364	161,819.719	108,096.856	137,744.161	146,068.148	160,674.962	55,241.854	58,716.944	61,805.504
Estimated Net Income (Low)	43,208.156	62,187.415	64,724.321	51,619.850	74,850.258	81,387.734	75,013.599	91,843.360	93,094.704	98,378.899
Estimated Net Income (High)	64,812.234	93,281.122	97,086.483	77,429.775	112,275.388	122,081.602	112,520.400	92,651.219	97,723.850	101,461.389
Estimated Net Income (Avg)	54,010.195	77,734.269	80,905.402	64,524.813	93,562.823	101,734.668	93,767	92,247.290	95,536	100,768.250
Estimated SGA Expense (Low)	39,334.196	42,650.333	40,516.728	33,322.159	50,285.237	53,226.927	58,549.618	67,432.875	71,674.863	75,445.019
Estimated SGA Expense (High)	59,001.294	63,975.502	60,775.094	49,983.238	75,427.857	79,840.393	87,824.431	67,799.337	72,064.378	75,855.024
Estimated SGA Expense (Avg)	49,167.745	53,312.918	50,645.911	41,652.699	62,856.547	66,533.660	73,187.025	67,602.945	71,855.632	75,635.297
Estimated EPS (Avg)	2.390	3.090	3.290	3.150	3.750	4.160	3.380	3.580	3.690	3.890
Estimated EPS (High)	2.420	3.120	3.330	3.180	3.790	4.230	3.400	3.600	3.790	3.940
Estimated EPS (Low)	2.380	3.060	3.270	3.120	3.720	4.110	3.370	3.560	3.610	3.820
Number of Analysts (Estimated Revenue)	3	6	1	1	1	1	2	2	2	2
Number of Analysts (Estimated EPS)	2	5	1	1	1	1	3	3	3	3

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Current Key Metrics

?	Revenue (TTM) :	430.986M	?	P/S (TTM) :	3.48
?	Net Income (TTM) :	93.478M	?	P/E (TTM) :	16.62
?	Enterprise Value (TTM) :	1.362B	?	EV/FCF (TTM) :	13.93
?	Dividend Yield (TTM) :	0.03	?	Payout Ratio (TTM) :	0.55
?	ROE (TTM) :	0.13	?	ROIC (TTM) :	0.1
?	Net Debt (TTM) :	-64956000	?	Debt/Equity (TTM) :	0.16
?	P/B (TTM) :	2.16	?	Current Ratio (TTM) :	0.21

Forward P/E Ratios

?

Forward P/E calculated based on:

Forward P/E 1Y	Forward P/E 2Y	Forward P/E 3Y	Forward P/E 4Y	Forward P/E 5Y
24.38	18.85	17.71	18.50	15.54

SWOT Analysis

No SWOT analysis available for this stock.

LKFN

-0.27

2.85

2.17

-0.47

-13.05

0.99

35.45

Trading Metrics:

Open:	59.01	Previous Close:	58.42
Day Low:	58.13	Day High:	59.16
Year Low:	50	Year High:	78.61
Price Avg 50:	57.99	Price Avg 200:	64.62
Volume:	315354	Average Volume:	189965