Wall Street analysts predict that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will announce sales of $55.56 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for Lakeland Bancorp’s earnings. The lowest sales estimate is $54.60 million and the highest is $56.91 million. Lakeland Bancorp reported sales of $49.83 million during the same quarter last year, which would suggest a positive year over year growth rate of 11.5%. The business is expected to announce its next earnings results on Monday, January 27th.
On average, analysts expect that Lakeland Bancorp will report full-year sales of $221.23 million for the current fiscal year, with estimates ranging from $219.90 million to $223.37 million. For the next fiscal year, analysts forecast that the company will post sales of $226.02 million, with estimates ranging from $221.22 million to $231.97 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $55.38 million during the quarter, compared to analyst estimates of $56.27 million. Lakeland Bancorp had a net margin of 24.68% and a return on equity of 10.13%.
A number of brokerages recently issued reports on LBAI. BidaskClub upgraded shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. DA Davidson restated a “buy” rating on shares of Lakeland Bancorp in a research note on Wednesday, September 11th. Finally, Zacks Investment Research upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, October 29th. One analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $18.00.
A number of hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its stake in Lakeland Bancorp by 1.2% during the third quarter. California State Teachers Retirement System now owns 75,944 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 907 shares during the last quarter. Cutler Capital Management LLC increased its stake in Lakeland Bancorp by 2.4% during the second quarter. Cutler Capital Management LLC now owns 53,000 shares of the financial services provider’s stock valued at $856,000 after purchasing an additional 1,250 shares during the last quarter. Private Advisor Group LLC increased its stake in Lakeland Bancorp by 9.0% during the second quarter. Private Advisor Group LLC now owns 17,427 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 1,432 shares during the last quarter. Context BH Capital Management LP increased its stake in Lakeland Bancorp by 1.9% during the second quarter. Context BH Capital Management LP now owns 142,365 shares of the financial services provider’s stock valued at $2,299,000 after purchasing an additional 2,700 shares during the last quarter. Finally, HM Payson & Co. bought a new stake in Lakeland Bancorp during the second quarter valued at $48,000. Hedge funds and other institutional investors own 55.95% of the company’s stock.
Shares of NASDAQ:LBAI traded up $0.12 during midday trading on Monday, reaching $16.70. The company had a trading volume of 96,193 shares, compared to its average volume of 137,467. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.96. The stock’s fifty day moving average price is $16.54 and its 200-day moving average price is $15.85. The stock has a market capitalization of $843.32 million, a P/E ratio of 12.46 and a beta of 0.87. Lakeland Bancorp has a one year low of $13.77 and a one year high of $17.25.
The business also recently declared a quarterly dividend, which was paid on Friday, November 15th. Investors of record on Monday, November 4th were paid a $0.125 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $0.50 dividend on an annualized basis and a dividend yield of 2.99%. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 37.31%.
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.
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