Analysts Expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to Post $0.45 Earnings Per Share

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.

LBAI has been the subject of a number of research analyst reports. DA Davidson reaffirmed a “buy” rating on shares of Lakeland Bancorp in a report on Tuesday, June 29th. Zacks Investment Research downgraded shares of Lakeland Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 14th.

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.

Further Reading: How to read a candlestick chart

Get a free copy of the Zacks research report on Lakeland Bancorp (LBAI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

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.