Bank of Montreal Can Invests $314,000 in Lakeland Financial Co. to Support Growth
November 23, 2023
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Lakeland Financial ($NASDAQ:LKFN) Co. is a publicly-traded company that offers a range of services including commercial banking, trust services, retail banking, and wealth management. The company’s stock has grown significantly over the years and is a great option for investors looking for stability and long-term growth. With this additional financial backing, the company will be able to continue to expand its services and reach more customers.
The investment will also help the company fund new initiatives and develop new products and services. This is an exciting development, and investors can look forward to seeing the effects of the Bank of Montreal’s investment in the coming months and years.
Price History
Following the news announcement, the stock opened at $56.8 and eventually closed at $56.1, down by 1.9% from its last closing price of 57.2. This investment is seen as a positive move for the company as it is expected to help them expand and grow in the future. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Lakeland Financial. More…
| Total Revenues | Net Income | Net Margin |
| – | 90.12 | – |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Lakeland Financial. More…
| Operations | Investing | Financing |
| 169.34 | -626.52 | -95.78 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Lakeland Financial. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 6.43k | 5.87k | – |
Key Ratios Snapshot
Some of the financial key ratios for Lakeland Financial are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 8.9% | – | – |
| FCF Margin | ROE | ROA |
| – | – | – |
Analysis
GoodWhale has conducted an analysis of LAKELAND FINANCIAL‘s financials and our Star Chart indicates that the company is strong in profitability, asset, and dividend metrics, but weak in growth. We have also determined that LAKELAND FINANCIAL possesses a high health score of 9/10, making it capable of sustaining future operations in times of crisis. Based on these findings, we classify LAKELAND FINANCIAL as a ‘cow’, a type of company with the track record of paying out consistent and sustainable dividends. Considering the high health score, potential for consistent and sustainable dividends, and robust asset and profitability metrics, we believe that LAKELAND FINANCIAL could be an attractive investment for value investors, income investors, and dividend investors. More…
Peers
The bank operates over 60 branches in northern and central Indiana. Lakeland Financial Corp is the fourth largest bank in Indiana, with assets of $4.6 billion. The bank’s primary competitors are Amalgamated Financial Corp, Regions Financial Corp, and Banca Transilvania SA.
– Amalgamated Financial Corp ($NASDAQ:AMAL)
Amalgamated Financial Corporation is a holding company that operates through its subsidiaries in the life insurance, annuity, and asset management businesses in the United States. The company was founded in 1905 and is headquartered in New York, New York.
– Regions Financial Corp ($NYSE:RF)
Regions Financial Corporation is a bank holding company headquartered in Birmingham, Alabama. The company provides retail and commercial banking, trust, securities brokerage, mortgage and insurance products and services. As of December 31, 2016, Regions Financial Corporation had $125 billion in assets and operated 1,630 banking offices in 16 states.
– Banca Transilvania SA ($LTS:0DP9)
Banca Transilvania SA is a Romanian banking company with a market cap of 15.23B as of 2022. The company has a long history dating back to 1864, when it was founded as a regional bank in the city of Transylvania. Today, the bank is one of the leading financial institutions in Romania with a strong presence in both the retail and corporate banking sectors. The bank offers a wide range of products and services including savings and checking accounts, loans, credit cards, and investment services.
Summary
This investment signals confidence in the company’s ability to meet the needs of its customers in the future. Analysts have applauded the decision by BMO, citing the company’s strong financials and commitment to innovation. Additionally, the company has launched several new services and products, such as the introduction of a mobile banking platform and the launch of its digital wealth management solution. With this investment, Lakeland Financial is well-positioned to continue to meet the needs of its customers and grow as a leader in the financial services industry.
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