Brokers Set Expectations for Lakeland Bancorp, Inc.’s Q1 2020 Earnings (NASDAQ:LBAI)

Lakeland Bancorp, Inc. (NASDAQ:LBAI) – Equities researchers at Piper Sandler decreased their Q1 2020 earnings per share (EPS) estimates for Lakeland Bancorp in a research note issued to investors on Monday, March 23rd. Piper Sandler analyst F. Schiraldi now forecasts that the financial services provider will earn $0.28 per share for the quarter, down from their previous forecast of $0.33. Piper Sandler also issued estimates for Lakeland Bancorp’s Q2 2020 earnings at $0.26 EPS, Q3 2020 earnings at $0.27 EPS, Q4 2020 earnings at $0.28 EPS, FY2020 earnings at $1.08 EPS, Q1 2021 earnings at $0.26 EPS, Q2 2021 earnings at $0.28 EPS, Q3 2021 earnings at $0.29 EPS, Q4 2021 earnings at $0.30 EPS and FY2021 earnings at $1.13 EPS.

Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Friday, January 24th. The financial services provider reported $0.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.35 by $0.02. Lakeland Bancorp had a net margin of 24.95% and a return on equity of 10.06%. The company had revenue of $57.53 million during the quarter, compared to analysts’ expectations of $55.56 million.

A number of other equities research analysts also recently commented on the stock. BidaskClub downgraded shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 11th. Zacks Investment Research cut Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, March 11th. Finally, ValuEngine cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. Lakeland Bancorp presently has an average rating of “Hold” and a consensus price target of $18.33.

Shares of Lakeland Bancorp stock opened at $11.22 on Thursday. Lakeland Bancorp has a 52-week low of $8.31 and a 52-week high of $17.63. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.42. The company’s 50-day simple moving average is $14.10 and its 200-day simple moving average is $15.84. The firm has a market cap of $514.23 million, a price-to-earnings ratio of 8.07 and a beta of 0.93.

Institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC increased its stake in Lakeland Bancorp by 130.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,840 shares of the financial services provider’s stock valued at $32,000 after purchasing an additional 1,040 shares in the last quarter. Great West Life Assurance Co. Can purchased a new position in Lakeland Bancorp in the 4th quarter valued at approximately $59,000. Eaton Vance Management purchased a new position in Lakeland Bancorp in the 4th quarter valued at approximately $182,000. Victory Capital Management Inc. increased its stake in Lakeland Bancorp by 28.5% in the 4th quarter. Victory Capital Management Inc. now owns 10,974 shares of the financial services provider’s stock valued at $191,000 after purchasing an additional 2,436 shares in the last quarter. Finally, Hotaling Investment Management LLC increased its stake in Lakeland Bancorp by 29.9% in the 4th quarter. Hotaling Investment Management LLC now owns 13,465 shares of the financial services provider’s stock valued at $234,000 after purchasing an additional 3,102 shares in the last quarter. 56.49% of the stock is owned by institutional investors and hedge funds.

In other Lakeland Bancorp news, EVP Paul Ho-Sing-Loy purchased 2,900 shares of Lakeland Bancorp stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average cost of $9.88 per share, with a total value of $28,652.00. Following the acquisition, the executive vice president now directly owns 18,528 shares of the company’s stock, valued at $183,056.64. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert E. Mccracken purchased 3,000 shares of Lakeland Bancorp stock in a transaction dated Wednesday, March 18th. The stock was acquired at an average cost of $8.70 per share, with a total value of $26,100.00. Insiders bought a total of 8,700 shares of company stock valued at $96,187 over the last three months. Insiders own 4.23% of the company’s stock.

Lakeland Bancorp Company Profile

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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Earnings History and Estimates for Lakeland Bancorp (NASDAQ:LBAI)

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