Analysts expect that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will post earnings per share of $0.35 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Lakeland Bancorp’s earnings, with estimates ranging from $0.35 to $0.36. Lakeland Bancorp posted earnings of $0.33 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The company is expected to announce its next earnings report on Thursday, July 25th.
According to Zacks, analysts expect that Lakeland Bancorp will report full year earnings of $1.38 per share for the current fiscal year, with EPS estimates ranging from $1.36 to $1.40. For the next fiscal year, analysts anticipate that the company will post earnings of $1.46 per share, with EPS estimates ranging from $1.40 to $1.51. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that cover Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $54.33 million during the quarter, compared to analyst estimates of $53.67 million. Lakeland Bancorp had a net margin of 25.63% and a return on equity of 10.34%.
LBAI has been the subject of several recent analyst reports. BidaskClub lowered shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th. Zacks Investment Research lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Friday, January 18th. ValuEngine lowered shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 21st. Finally, FIG Partners reaffirmed an “outperform” rating on shares of Lakeland Bancorp in a research note on Monday, May 6th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $20.13.
NASDAQ LBAI traded down $0.05 on Thursday, hitting $16.20. 64,647 shares of the stock were exchanged, compared to its average volume of 120,305. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $821.68 million, a price-to-earnings ratio of 12.09 and a beta of 0.90. Lakeland Bancorp has a 52-week low of $13.77 and a 52-week high of $21.15.
The business also recently announced a quarterly dividend, which will be paid on Friday, May 17th. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.125 per share. This is a positive change from Lakeland Bancorp’s previous quarterly dividend of $0.12. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date is Wednesday, May 8th. Lakeland Bancorp’s payout ratio is currently 37.31%.
Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc boosted its stake in shares of Lakeland Bancorp by 2.6% during the third quarter. Vanguard Group Inc now owns 2,121,333 shares of the financial services provider’s stock valued at $38,291,000 after purchasing an additional 53,482 shares during the period. BlackRock Inc. boosted its stake in shares of Lakeland Bancorp by 1.1% during the third quarter. BlackRock Inc. now owns 3,173,774 shares of the financial services provider’s stock valued at $57,285,000 after purchasing an additional 33,697 shares during the period. Lucas Capital Management boosted its stake in shares of Lakeland Bancorp by 110.0% during the fourth quarter. Lucas Capital Management now owns 54,838 shares of the financial services provider’s stock valued at $812,000 after purchasing an additional 28,719 shares during the period. Hennessy Advisors Inc. purchased a new stake in shares of Lakeland Bancorp during the fourth quarter valued at $3,554,000. Finally, Legal & General Group Plc boosted its stake in shares of Lakeland Bancorp by 12.4% during the fourth quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 897 shares during the period. 53.41% of the stock is owned by hedge funds and other institutional investors.
About Lakeland Bancorp
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking 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.
Further Reading: Discover Your Risk Tolerance
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.