LAKELAND FINANCIAL CORPORATION
In the published model solve dated 2026-Q2, anchored at $63.97, LAKELAND FINANCIAL CORPORATION (LKFN) is priced for 14.6% return on equity. boothcheck publishes no house fair value, target price, or buy/sell rating; individual model outputs and user-controlled scenarios are analytical inputs, not Boothcheck targets. The narrative was composed June 27, 2026 from SEC EDGAR filings.
• Lakeland Financial is the holding company for Lake City Bank, an Indiana community bank that earns a high-teens return on equity by funding a $5.4 billion loan book with low-cost local deposits, a profile that puts it at the top of its small-bank peer group on price-to-book. • The defining risk is the cycle: the price pays roughly two times book for a return near 14%, and a credit downturn in its Indiana commercial markets would compress both the return and the multiple at once, since the pric
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227 institutional managers reported holding LKFN in 13F filings for the quarter ended 2026-03-31. Together they hold about 81% of the company; the top 10 hold 50%. 24 opened new positions that quarter. Held by BlackRock, Vanguard Group, State Street, among others. On the short side, 2.0M shares were sold short as of the 2026-06-15 count, about 8% of shares outstanding (10.8 days of typical volume to cover).
Quarterly 13F filings arrive up to 45 days after quarter end, so the picture is never current (filed through 2026-05-29). Nothing here is investment advice.
LKFN has cut its share count 0.5% over the past five years, spending $42.02M on repurchases. It pays a dividend, and has paid one every year in our records (16 and counting), raised 12 years straight; the current rate is $2.00 a share annually. Cash returned over the past three years: $137.47M in dividends and $40.88M in repurchases.
Share counts are split-adjusted; repurchase totals are gross of share issuance. Nothing here is investment advice.
Open-market insider buys at LKFN over the trailing three years: 2023: 5 buys totaling $746k; 2024: 3 buys totaling $374k; 2025: 5 buys totaling $1.44M; 2026: 3 buys totaling $1.42M. 23 officers and directors are on file.
Code P open-market purchases from SEC Form 4 filings, non-derivative, excluding scheduled 10b5-1 plans. Nothing here is investment advice.
LKFN's recent reports: the day-one move, then what the following quarter actually did.
| report | day one | next quarter |
|---|---|---|
| 2023-08-03 | -1.0% | -14.1% |
| 2023-11-02 | +5.6% | +22.7% |
| 2024-02-22 | +14.5% | -4.7% |
| 2024-05-02 | -4.6% | -1.2% |
Day-one is the close-to-close move around the filing. Nothing here is investment advice.
LKFN's latest 8-K filings: 2026-07-27 (items 7.01, 9.01); 2026-07-27 (items 2.02, 9.01); 2026-07-14 (items 7.01, 9.01); 2026-04-27 (items 7.01, 9.01); 2026-04-27 (items 2.02, 9.01).
Item codes are the SEC's own classification of what each report discloses. Dates link to the filing on EDGAR. Nothing here is investment advice.
Model solve date: 2026-Q2
Narrative composed: June 27, 2026
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For informational and research purposes only. Not investment advice. Not a recommendation to buy, sell, or hold any security. boothcheck is not a registered investment adviser. Past performance does not guarantee future results.