Lake City Bank (LKFN) To Report Earnings Tomorrow: Here Is What To Expect

Regional banking company Lakeland Financial (NASDAQGS:LKFN) will be reporting results this Monday before market hours. Here’s what to look for.

Lake City Bank beat analysts’ revenue expectations by 1.3% last quarter, reporting revenues of $70.13 million, up 12.5% year on year. It was a slower quarter for the company, with a significant miss of analysts’ net interest income and EPS estimates.

Is Lake City Bank a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, analysts are expecting Lake City Bank’s revenue to grow 7.7% year on year to $69.69 million, improving from the 6.3% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $1.06 per share.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Lake City Bank has a history of exceeding Wall Street’s expectations, beating revenue estimates every single time over the past two years by 1.5% on average.

Looking at Lake City Bank’s peers in the regional banks segment, some have already reported their Q4 results, giving us a hint as to what we can expect. ServisFirst Bancshares delivered year-on-year revenue growth of 20.7%, beating analysts’ expectations by 5%, and Dime Community Bancshares reported revenues up 24.5%, topping estimates by 5.2%. ServisFirst Bancshares traded up 14.6% following the results while Dime Community Bancshares was also up 12.5%.

Read our full analysis of ServisFirst Bancshares’s results here and Dime Community Bancshares’s results here.

Investors in the regional banks segment have had steady hands going into earnings, with share prices up 1.9% on average over the last month. Lake City Bank’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $65.20 (compared to the current share price of $58.83).

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