Lakeland Financial (LKFN) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended June 2023, Lakeland Financial (LKFN) reported revenue of $60.03 million, up 1.4% over the same period last year. EPS came in at $0.57, compared to $1.00 in the year-ago quarter.
The reported revenue represents a surprise of +1.05% over the Zacks Consensus Estimate of $59.4 million. With the consensus EPS estimate being $0.91, the EPS surprise was -37.36%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how Lakeland Financial performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Net Interest Margin [%]: 3.28% versus 3.36% estimated by two analysts on average.
Efficiency ratio: 71.2% versus 46.75% estimated by two analysts on average.
Total Non Interest Income: $11.50 million versus the two-analyst average estimate of $11.15 million.
View all Key Company Metrics for Lakeland Financial here>>>
Shares of Lakeland Financial have returned +8.1% over the past month versus the Zacks S&P 500 composite's +3.4% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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Lakeland Financial Corporation (LKFN) : Free Stock Analysis Report
