Wall Street analysts predict that Lakeland Bancorp, Inc. (NASDAQ: LBAI) will post earnings per share of $ 0.42 for the current quarter, Zack reports. Four analysts have made estimates for Lakeland Bancorp’s earnings. The highest EPS estimate is $ 0.45 and the lowest is $ 0.41. Lakeland Bancorp reported earnings per share of $ 0.37 in the same quarter last year, indicating a positive year-over-year growth rate of 13.5%. The company is expected to release its next earnings report on Thursday, January 27.
According to Zacks, analysts expect Lakeland Bancorp to report annual earnings of $ 1.89 per share for the current fiscal year, with EPS estimates ranging from $ 1.87 to $ 1.90. For the next fiscal year, analysts predict the company will post earnings of $ 1.70 per share, with EPS estimates ranging from $ 1.63 to $ 1.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of seller-side research companies that cover Lakeland Bancorp.
Lakeland Bancorp (NASDAQ: LBAI) last reported its results on Monday, October 25. The financial services provider reported earnings per share of $ 0.47 for the quarter, beating the consensus estimate of $ 0.45 by $ 0.02. The company posted revenue of $ 64.81 million in the quarter, compared to the consensus estimate of $ 65.38 million. Lakeland Bancorp had a net margin of 32.78% and a return on equity of 11.67%. In the same quarter of the previous year, the company made a profit of $ 0.28 per share.
Separately, Zacks investment research downgraded Lakeland Bancorp shares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 27.
Several hedge funds have recently increased or reduced their holdings in LBAI. FJ Capital Management LLC increased its position in shares of Lakeland Bancorp by 130.8% during the 2nd quarter. FJ Capital Management LLC now owns 2,209,000 shares of the financial services provider valued at $ 38,621,000 after purchasing an additional 1,252,000 shares in the last quarter. Systematic Financial Management LP increased its position in Lakeland Bancorp shares by 20.8% in the second quarter. Systematic Financial Management LP now owns 1,609,033 shares of the financial services provider valued at $ 28,126,000 after purchasing an additional 277,139 shares in the last quarter. State Street Corp increased its position in shares of Lakeland Bancorp by 14.2% during the 2nd quarter. State Street Corp now owns 1,402,447 shares of the financial services provider worth $ 24,515,000 after purchasing an additional 174,669 shares in the last quarter. Two Sigma Advisers LP increased its equity stake in Lakeland Bancorp by 231.1% in the third quarter. Two Sigma Advisers LP now owns 202,726 shares of the financial services provider valued at $ 3,574,000 after purchasing an additional 141,500 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. purchased a new equity interest in Lakeland Bancorp in the 3rd quarter valued at approximately $ 1,854,000. Institutional investors hold 60.11% of the shares of the company.
The NASDAQ LBAI traded down $ 0.01 during trading hours on Friday, reaching $ 18.64. 72,797 shares were traded, for an average volume of 174,881. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt ratio of 0.26. The stock has a 50-day moving average of $ 18.43 and a 200-day moving average of $ 17.52. The company has a market cap of $ 943.30 million, a price-to-earnings ratio of 10.47 and a beta of 0.91. Lakeland Bancorp has a 12-month low of $ 12.40 and a 12-month high of $ 19.43.
The company also recently announced a quarterly dividend, which was paid on Monday, November 15. Shareholders of record on Friday, November 5 received a dividend of $ 0.135 per share. This represents a dividend of $ 0.54 on an annualized basis and a return of 2.90%. The ex-dividend date of this dividend was Thursday, November 4. Lakeland Bancorp’s payout ratio is 30.34%.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc is a banking holding company providing loan, deposit and related financial services. Its consumer banking services include chequing accounts, savings accounts, interest-bearing chequing accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans. consumer, mortgage and secure deposit services.
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