This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

10 Buy Rated Regional Bank Stocks (Update 3)


6. Lakeland Financial

Shares of Lakeland Financial (LKFN) of Warsaw, Ind., on Monday closed at $26.94, rising 5% year-to-date, with a five-year total return of 26%. Based on a quarterly payout of 15.5 cents, the shares have a dividend yield of 2.30%.

The stock is rated an "A" by TheStreet Ratings.

The company had $2.9 billion in total assets as of Dec. 31, with 47 branches.

Lakeland Financial on Wednesday reported fourth-quarter earnings of $8.3 million, or 51 cents a share, declining slightly from $8.4 million, or 52 cents a share, in the third quarter, but increasing from $5.8 million, or 36 cents a share, in the fourth quarter of 2010.

Total loans grew 2% during the fourth quarter and 6% year-over-year, to $2.2 billion as of Dec 31. CFO David Findlay said that total loans had grown by $880 million or 65% over the past five years, and that the growth was not "the result of acquisition or entry into new markets," but had "resulted from targeted growth in our core Indiana markets by great client relationship teams."

Noninterest-bearing deposits were up 10% sequentially and 17% year-over-year, to $357 million as of Dec. 31. Still, the net interest margin -- the difference between a bank's average yield on loans and investments and its average cost for deposits and wholesale borrowings -- narrowed to 3.38% in the fourth quarter, from 3.48% the previous quarter and 3.62% a year earlier, "primarily from reduced yields in the investment portfolio and slightly lower commercial loan yields as interest rates continue to be at historic lows."

Lakeland's fourth-quarter ROA was 1.13%, and the ROA has ranged between 0.93% and 1.20% over the past five quarters, according to the company.

The shares trade for 1.6 times tangible book value, according to SNL Financial, and for 13 times the consensus 2012 EPS estimate of $1.60, among analysts polled by FactSet.

Interested in more on Lakeland Financial? See TheStreet Ratings' report card for this stock.

6 of 11

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 17,854.98 +76.83 0.43%
S&P 500 2,075.92 +14.69 0.71%
NASDAQ 4,776.3570 +27.9610 0.59%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs