Equity research analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to report earnings per share (EPS) of $0.42 for the current quarter, Zacks reports. Four analysts provided earnings estimates for Lakeland Bancorp, with estimates ranging from $0.41 to $0.45. Lakeland Bancorp reported earnings of $0.37 per share in the same quarter last year, suggesting a positive year-over-year growth rate of 13.5%. The company is expected to announce its next results before the market opens on Wednesday, January 26.
According to Zacks, analysts expect Lakeland Bancorp to report annual earnings of $1.87 per share for the current fiscal year, with EPS estimates ranging from $1.83 to $1.90. For the next fiscal year, analysts expect the company to post earnings of $1.70 per share, with EPS estimates ranging from $1.63 to $1.80. Zacks EPS averages are an average average based on a survey of analysts who cover Lakeland Bancorp.
Lakeland Bancorp Inc (NASDAQ:LBAI) last reported quarterly earnings data on Monday, October 25. The financial services provider reported earnings per share (EPS) of $0.47 for the quarter, beating Thomson Reuters consensus estimate of $0.45 by $0.02. The company posted revenue of $64.81 million for the quarter, versus $65.38 million expected by analysts. Lakeland Bancorp had a return on equity of 11.67% and a net margin of 32.78%. In the same quarter a year earlier, the company posted earnings per share of $0.28.
Separately, Zacks Investment Research downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, October 27.
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LBAI stock opened at $20.43 on Friday. The stock’s 50-day simple moving average is $18.88 and its 200-day simple moving average is $17.68. Lakeland Bancorp has a 12-month low of $12.79 and a 12-month high of $20.69. The company has a market capitalization of $1.03 billion, a P/E ratio of 11.48 and a beta of 0.92. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt ratio of 0.26.
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. The ex-dividend date was Thursday, November 4. This represents a dividend of $0.54 on an annualized basis and a yield of 2.64%. Lakeland Bancorp’s payout ratio is currently 30.34%.
Several institutional investors have recently changed their positions in the company. Berman Capital Advisors LLC increased its holdings of Lakeland Bancorp shares by 56.6% during the second quarter. Berman Capital Advisors LLC now owns 2,867 shares of the financial services provider valued at $50,000 after acquiring an additional 1,036 shares during the period. Cubist Systematic Strategies LLC purchased a new stake in Lakeland Bancorp in Q2, valued at approximately $186,000. Metropolitan Life Insurance Co NY increased its stake in Lakeland Bancorp by 85,223.1% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 11,092 shares of the financial services provider valued at $194,000 after purchasing an additional 11,079 shares during the period. Mariner LLC bought a new position in Lakeland Bancorp in Q3 worth approximately $222,000. Finally, Beacon Pointe Advisors LLC acquired a new equity stake in Lakeland Bancorp in the second quarter valued at approximately $235,000. Institutional investors and hedge funds own 62.07% of the company’s shares.
About Lakeland Bancorp
Lakeland Bancorp, Inc is a bank holding company that provides lending, depository and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans consumer products, mortgages and safe deposit services.
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