Wall Street analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to announce $0.35 earnings per share for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Lakeland Bancorp’s earnings, with the lowest EPS estimate coming in at $0.34 and the highest estimate coming in at $0.35. Lakeland Bancorp reported earnings per share of $0.29 during the same quarter last year, which indicates a positive year-over-year growth rate of 20.7%. The company is scheduled to report its next earnings report on Thursday, October 25th.
According to Zacks, analysts expect that Lakeland Bancorp will report full year earnings of $1.34 per share for the current year, with EPS estimates ranging from $1.32 to $1.35. For the next financial year, analysts expect that the firm will report earnings of $1.45 per share, with EPS estimates ranging from $1.40 to $1.51. Zacks’ earnings per share calculations are an average based on a survey of sell-side research analysts that that provide coverage for Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. The business had revenue of $49.20 million during the quarter, compared to the consensus estimate of $49.07 million. Lakeland Bancorp had a net margin of 26.02% and a return on equity of 9.99%.
Several brokerages have issued reports on LBAI. BidaskClub downgraded shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. Zacks Investment Research raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Boenning Scattergood began coverage on shares of Lakeland Bancorp in a research note on Monday, September 10th. They issued a “neutral” rating for the company. ValuEngine downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $23.50 price objective on shares of Lakeland Bancorp in a research note on Wednesday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.17.
Institutional investors have recently bought and sold shares of the company. Brown Advisory Inc. raised its stake in shares of Lakeland Bancorp by 43.3% during the first quarter. Brown Advisory Inc. now owns 35,039 shares of the financial services provider’s stock valued at $696,000 after acquiring an additional 10,582 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Lakeland Bancorp by 10.0% during the second quarter. Renaissance Technologies LLC now owns 553,900 shares of the financial services provider’s stock valued at $10,995,000 after acquiring an additional 50,500 shares in the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in shares of Lakeland Bancorp during the second quarter valued at approximately $392,000. Citadel Advisors LLC raised its stake in shares of Lakeland Bancorp by 73.1% during the second quarter. Citadel Advisors LLC now owns 59,771 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 25,245 shares in the last quarter. Finally, Guggenheim Capital LLC raised its stake in shares of Lakeland Bancorp by 50.3% during the first quarter. Guggenheim Capital LLC now owns 155,213 shares of the financial services provider’s stock valued at $3,080,000 after acquiring an additional 51,913 shares in the last quarter. 54.46% of the stock is owned by hedge funds and other institutional investors.
Shares of NASDAQ LBAI opened at $16.95 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $857.11 million, a price-to-earnings ratio of 15.27 and a beta of 0.82. Lakeland Bancorp has a 1 year low of $16.52 and a 1 year high of $21.90.
About Lakeland Bancorp
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.
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