Equities analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to report earnings of $0.45 per share for the current quarter, according to Zacks. Four analysts have provided estimates for Lakeland Bancorp’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.42. Lakeland Bancorp reported earnings per share of $0.28 during the same quarter last year, which indicates a positive year-over-year growth rate of 60.7%. The company is expected to announce its next quarterly earnings results on Thursday, October 28th.
According to Zacks, analysts expect that Lakeland Bancorp will report full year earnings of $1.86 per share for the current fiscal year, with EPS estimates ranging from $1.83 to $1.88. For the next fiscal year, analysts anticipate that the company will report earnings of $1.75 per share, with EPS estimates ranging from $1.65 to $1.85. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that follow Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Wednesday, July 21st. The financial services provider reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.10. Lakeland Bancorp had a net margin of 30.21% and a return on equity of 10.88%. The company had revenue of $65.01 million during the quarter, compared to analyst estimates of $63.87 million.
NASDAQ:LBAI traded up $0.17 during trading hours on Friday, hitting $17.89. The stock had a trading volume of 1,807 shares, compared to its average volume of 183,080. Lakeland Bancorp has a one year low of $10.13 and a one year high of $19.35. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market capitalization of $905.25 million, a price-to-earnings ratio of 10.87 and a beta of 1.02. The company has a 50 day simple moving average of $16.94 and a two-hundred day simple moving average of $17.41.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Monday, August 2nd were given a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.02%. The ex-dividend date was Friday, July 30th. Lakeland Bancorp’s payout ratio is 47.79%.
In related news, EVP Paul Ho-Sing-Loy purchased 3,000 shares of Lakeland Bancorp stock in a transaction that occurred on Friday, September 17th. The shares were bought at an average price of $16.50 per share, for a total transaction of $49,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Gragnolati purchased 2,000 shares of Lakeland Bancorp stock in a transaction that occurred on Thursday, September 16th. The shares were bought at an average price of $16.55 per share, for a total transaction of $33,100.00. Following the transaction, the director now directly owns 15,658 shares of the company’s stock, valued at $259,139.90. The disclosure for this purchase can be found here. Insiders acquired 12,250 shares of company stock worth $201,723 in the last 90 days. Corporate insiders own 4.24% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in LBAI. Quadrant Capital Group LLC grew its holdings in Lakeland Bancorp by 483.1% in the second quarter. Quadrant Capital Group LLC now owns 1,720 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 1,425 shares during the period. Berman Capital Advisors LLC grew its holdings in Lakeland Bancorp by 56.6% in the second quarter. Berman Capital Advisors LLC now owns 2,867 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,036 shares during the period. Royal Bank of Canada grew its holdings in Lakeland Bancorp by 189.8% in the first quarter. Royal Bank of Canada now owns 7,592 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 4,972 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in Lakeland Bancorp in the first quarter worth about $178,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in Lakeland Bancorp in the second quarter worth about $186,000. Institutional investors and hedge funds own 59.37% of the company’s stock.
About Lakeland Bancorp
Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of 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, consumer installment loans, mortgage loans, and safe deposit services.
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