Analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to post earnings of $0.39 per share for the current quarter, Zacks reports. Four analysts have issued estimates for Lakeland Bancorp’s earnings, with the highest EPS estimate coming in at $0.46 and the lowest estimate coming in at $0.32. Lakeland Bancorp posted earnings of $0.24 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 62.5%. The company is expected to announce its next earnings report on Thursday, April 29th.
On average, analysts expect that Lakeland Bancorp will report full year earnings of $1.42 per share for the current fiscal year, with EPS estimates ranging from $1.29 to $1.58. For the next year, analysts forecast that the business will post earnings of $1.44 per share, with EPS estimates ranging from $1.35 to $1.55. Zacks Investment Research’s EPS averages are a mean average based on a survey of analysts that that provide coverage for Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Wednesday, January 27th. The financial services provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.08. The firm had revenue of $61.98 million during the quarter, compared to analyst estimates of $59.00 million. Lakeland Bancorp had a net margin of 20.64% and a return on equity of 7.75%.
Several institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can boosted its stake in shares of Lakeland Bancorp by 66.4% during the 3rd quarter. Great West Life Assurance Co. Can now owns 5,800 shares of the financial services provider’s stock worth $92,000 after purchasing an additional 2,314 shares during the period. Transcend Wealth Collective LLC purchased a new stake in Lakeland Bancorp in the 3rd quarter worth about $100,000. Verus Financial Partners Inc. bought a new stake in Lakeland Bancorp in the fourth quarter worth about $136,000. ProShare Advisors LLC purchased a new position in shares of Lakeland Bancorp during the fourth quarter valued at approximately $137,000. Finally, SG Americas Securities LLC bought a new position in shares of Lakeland Bancorp during the fourth quarter valued at approximately $153,000. Hedge funds and other institutional investors own 56.65% of the company’s stock.
LBAI stock traded up $0.03 during trading on Friday, hitting $17.19. 1,248 shares of the company’s stock traded hands, compared to its average volume of 182,713. Lakeland Bancorp has a 52 week low of $8.78 and a 52 week high of $18.60. The stock has a market capitalization of $868.11 million, a price-to-earnings ratio of 15.32 and a beta of 0.97. The business has a fifty day simple moving average of $17.01 and a 200 day simple moving average of $13.47. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.97 and a current ratio of 0.97.
The business also recently declared a quarterly dividend, which was paid on Wednesday, February 17th. Investors of record on Monday, February 8th were issued a dividend of $0.125 per share. The ex-dividend date of this dividend was Friday, February 5th. This represents a $0.50 annualized dividend and a yield of 2.91%. Lakeland Bancorp’s payout ratio is presently 34.97%.
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.
Further Reading: Outstanding Shares and The Effect on Share Price
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