Company Overview - Lakeland Financial (LKFN) is headquartered in Warsaw and operates in the Finance sector. The stock has experienced a price change of 0.84% since the beginning of the year [3]. Dividend Information - The company currently pays a dividend of $0.5 per share, resulting in a dividend yield of 2.88%. This yield is slightly below the Banks - Midwest industry's yield of 2.9% but significantly higher than the S&P 500's yield of 1.52% [3]. - Lakeland Financial's annualized dividend of $2 has increased by 4.2% from the previous year. Over the last 5 years, the company has raised its dividend 4 times year-over-year, averaging an annual increase of 12.70% [4]. - The current payout ratio for Lakeland Financial is 55%, indicating that the company distributes 55% of its trailing 12-month earnings per share as dividends [4]. Earnings Growth Expectations - For the fiscal year 2025, the Zacks Consensus Estimate predicts earnings of $3.70 per share, reflecting a year-over-year growth rate of 6.63% [5]. Investment Appeal - Lakeland Financial is viewed as an attractive dividend investment, supported by its strong dividend history and growth potential. The company holds a Zacks Rank of 1 (Strong Buy), indicating a compelling investment opportunity [7].

Lakeland Financial (LKFN) could be a solid choice for investors given its recent upgrade to a Zacks Rank #1 (Strong Buy). This upgrade primarily reflects an upward trend in earnings estimates, which is one of the most powerful forces impacting stock prices.A company's changing earnings picture is at the core of the Zacks rating. The system tracks the Zacks Consensus Estimate -- the consensus measure of EPS estimates from the sell-side analysts covering the stock -- for the current and following years.Indivi ...

All investors love getting big returns from their portfolio, whether it's through stocks, bonds, ETFs, or other types of securities. But when you're an income investor, your primary focus is generating consistent cash flow from each of your liquid investments.While cash flow can come from bond interest or interest from other types of investments, income investors hone in on dividends. A dividend is the distribution of a company's earnings paid out to shareholders; it's often viewed by its dividend yield, a ...

Core Insights - Lakeland Financial (LKFN) reported revenue of $63.57 million for the quarter ended December 2024, reflecting a year-over-year decline of 3.4% [1] - Earnings per share (EPS) for the quarter was $0.94, down from $0.98 in the same quarter last year, but exceeded the consensus estimate of $0.89 by 5.62% [1] - The reported revenue surpassed the Zacks Consensus Estimate of $61.2 million by 3.87% [1] Financial Metrics - Net Interest Margin was reported at 3.3%, slightly above the two-analyst average estimate of 3.2% [4] - The Efficiency Ratio stood at 48.2%, better than the two-analyst average estimate of 49.1% [4] - Total Noninterest Income was $11.88 million, exceeding the two-analyst average estimate of $11.70 million [4] Stock Performance - Over the past month, shares of Lakeland Financial have returned -3.6%, contrasting with the Zacks S&P 500 composite's increase of +2.5% [3] - The stock currently holds a Zacks Rank 2 (Buy), suggesting potential for outperformance in the near term [3]

WARSAW, Ind., Jan. 24, 2025 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, today reported net income of $93.5 million for the year ended December 31, 2024, versus $93.8 million for the year ended December 31, 2023. Diluted earnings per share were $3.63 for the twelve months ended December 31, 2024, versus $3.65 for 2023. Net income was $24.2 million for the three months ended December 31, 2024, a decrease of $5.4 million, or 18%, compared wi ...

Financial Performance - Annual net income for 2024 was $93.5 million, a slight decrease from $93.8 million in 2023, with diluted earnings per share at $3.63 compared to $3.65[1] - Fourth quarter net income decreased by 18% to $24.2 million, with diluted earnings per share at $0.94, down from $1.16 in Q4 2023[2] - The company reported a net income of $24.190 million for Q4 2024, compared to $29.626 million in Q4 2023[46] - Net income for the full year 2024 was $93,478,000, slightly down from $93,767,000 in 2023, with diluted earnings per share at $3.63 compared to $3.65[50] Loan and Deposit Growth - Average total loans for 2024 increased by $225.7 million, or 5%, to $5.04 billion, with Q4 loans at $5.09 billion, up $206.9 million, or 4% from Q4 2023[10] - Loans increased to $5.118 billion as of December 31, 2024, from $4.917 billion at the end of 2023[46] - Total loans net as of December 31, 2024, were $5,031,988,000, an increase from $4,844,562,000 in December 2023[53] - Total deposits grew to $5,900,966 thousand, compared to $5,720,525 thousand in the previous year, representing an increase of approximately 3.15%[49] - As of December 31, 2024, deposits not covered by FDIC insurance were 62% of total deposits, up from 57% a year earlier[20] Asset Management - Total assets as of December 31, 2024, were $6.678 billion, compared to $6.524 billion at the end of 2023[46] - Total investment securities decreased by $58.7 million, or 5%, to $1.12 billion as of December 31, 2024, representing 17% of total assets[25] - The company reported total assets of $6,795,596 thousand, an increase from $6,514,430 thousand year-over-year[58] Capital and Efficiency Ratios - Total risk-based capital ratio improved to 15.90% at December 31, 2024, exceeding the 10.00% regulatory threshold[6] - The company's efficiency ratio improved to 49.3% for the twelve months ended December 31, 2024, down from 52.9% for the same period in 2023[39] - Adjusted core efficiency ratio for the twelve months ended December 31, 2024, was 49.5%, compared to 47.4% for the twelve months ended December 31, 2023[39] - The efficiency ratio (Noninterest Expense/Net Interest Income plus Noninterest Income) improved to 48.22% from 49.67% in the previous quarter, indicating enhanced operational efficiency[47] Noninterest Income and Expenses - Noninterest income for the year increased by 14% to $56.8 million, driven by a net gain on the sale of Visa shares of $9.0 million[32] - Noninterest expense decreased by 4% to $125.1 million for the year ended December 31, 2024, despite a 13% increase in salaries and employee benefits[36] - Noninterest income for Q4 2024 was $11.876 million, slightly down from $11.917 million in Q3 2024[46] - Total noninterest income decreased to $11,876,000 in Q4 2024 from $17,208,000 in Q4 2023, primarily due to lower other income and net securities gains[50] Credit Quality and Provisions - Provision expense for the year ended December 31, 2024, was $16.8 million, an increase of 186% compared to the prior year, primarily due to a downgrade of a $43.3 million credit[28] - Nonperforming assets increased by 253% to $56.9 million as of December 31, 2024, compared to $16.1 million a year earlier[30] - The allowance for credit loss reserve to total loans was 1.68% at December 31, 2024, up from 1.46% a year earlier[29] - Provision for credit losses increased significantly to $3,691,000 in Q4 2024 from $300,000 in Q4 2023, indicating a more cautious outlook on credit quality[50] Operational Highlights - The company declared a cash dividend of $0.50 per share for Q4 2024, a 4% increase from $0.48 in Q4 2023[8] - Full-time equivalent employees increased to 643 from 619 year-over-year, reflecting a growth in workforce[47] - The company maintained 54 offices as of December 31, 2024, unchanged from the previous year[47] - The company plans to continue focusing on market expansion and new product development to drive future growth[64]

Wall Street analysts forecast that Lakeland Financial (LKFN) will report quarterly earnings of $0.89 per share in its upcoming release, pointing to a year-over-year decline of 9.2%. It is anticipated that revenues will amount to $61.2 million, exhibiting a decline of 7% compared to the year-ago quarter.Over the last 30 days, there has been no revision in the consensus EPS estimate for the quarter. This signifies the covering analysts' collective reconsideration of their initial forecasts over the course of ...

WARSAW, Ind., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Lake City Bank is pleased to announce that Stephanie R. Leniski has been promoted to Executive Vice President, Chief Retail Banking Officer. "Stephanie's energy for the business, accompanied by her ability to effectively manage and motivate our retail team, makes her a strong leader," said David M. Findlay, Chairman and Chief Executive Officer. "She's strategic in the decisions she makes and represents a thoughtful leader of the business. Her balanced approach ...

Executive Vice President, Chief Retail Banking Officer Stephanie R. Leniski WARSAW, Ind., Jan. 16, 2025 (GLOBE NEWSWIRE) -- Lake City Bank is pleased to announce that Stephanie R. Leniski has been promoted to Executive Vice President, Chief Retail Banking Officer. “Stephanie’s energy for the business, accompanied by her ability to effectively manage and motivate our retail team, makes her a strong leader,” said David M. Findlay, Chairman and Chief Executive Officer. “She’s strategic in the decisions she ...

WARSAW, Ind., Jan. 14, 2025 (GLOBE NEWSWIRE) -- Lakeland Financial Corporation (Nasdaq Global Select/LKFN), parent company of Lake City Bank, announced that the Board of Directors approved a quarterly cash dividend for the first quarter of 2025 of $0.50 per share, payable February 5, 2025, to shareholders of record as of January 25, 2025. The quarterly dividend represents a 4% increase over the quarterly dividend rate of $0.48 per share paid in 2024. "We are pleased to announce another increase to our commo ...