Headquartered in Warsaw, IN Fiscal year ends December NASDAQ: LKFN lakecitybank.com
Lakeland Financial Corporation is the parent company of Lake City Bank, a $7.2 billion community bank founded in 1872 that serves Central and Northern Indiana through 55 branch offices and a digital banking platform. The bank provides commercial banking services including commercial and industrial lending, commercial real estate lending, agri-business and agricultural loans, consumer mortgage and other consumer loans, as well as wealth advisory and investment brokerage services. Lake City Bank's business model focuses on building in-market long-term customer relationships while delivering technology-forward solutions for retail and commercial clients. The company trades on the Nasdaq Global Select Market under the ticker LKFN and is actively expanding into the Indianapolis and Fort Wayne markets with new branch development and revenue-producing personnel. Updated
Margin expansion, not loan growth headlines, is the story at Lake City Bank's parent: net interest margin rose 8 basis points to 3.58% as deposit costs fell faster than asset yields, delivering record net income. Revenue came in missing expectations, but the margin trend is what matters while peers flag funding pressure.
Lakeland Financial reports at 7:00 AM ET, with consensus at $1.088 EPS on $73.74 million in revenue from five analysts. Three straight beats have set the bar for this Indiana lender, and the year-ago quarter was the last time it came up short.
Concentrix leads today's payouts with $22.6 million going to shareholders on November 3, at 37 cents a share. Four more companies, including GE HealthCare and Coca-Cola Consolidated, round out roughly $79 million in cash heading out the door over the next three weeks.
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Lakeland Financial Corporation is the parent company of Lake City Bank, a $7.2 billion community bank founded in 1872 that serves Central and Northern Indiana through 55 branch offices and a digital banking platform.
The Wall Street consensus 12-month price target for LKFN is $66.00.
