Equity research analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to report sales of $64.58 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts provided earnings estimates for Lakeland Bancorp, with the lowest sales estimate of $64.06 million and the highest estimate of $65.00 million. Lakeland Bancorp reported sales of $61.98 million in the same quarter last year, suggesting a positive year-over-year growth rate of 4.2%. The company is expected to release its next quarterly earnings report before market open on Wednesday, January 26.
According to Zacks, analysts expect Lakeland Bancorp to report full-year sales of $256.73 million for the current fiscal year, with estimates ranging from $256.00 to $257.30 million. For next year, analysts expect the company to post sales of $330.34 million, with estimates ranging from $324.74 million to $336.52 million. Zacks Investment Research’s sales calculations are an average based on a survey of research analysts who follow Lakeland Bancorp.
Lakeland Bancorp Inc (NASDAQ:LBAI) last announced its results on Monday, October 25. The financial services provider reported earnings per share of $0.47 for the quarter, beating the consensus estimate of $0.45 by $0.02. Lakeland Bancorp had a return on equity of 11.67% and a net margin of 32.78%. The company posted revenue of $64.81 million in the quarter, versus a consensus estimate of $65.38 million. In the same quarter of the previous year, the company achieved EPS of $0.28.
Separately, Zacks Investment Research downgraded Lakeland Bancorp from a “hold” to a “sell” rating in a Wednesday, October 27 research report.
Several institutional investors and hedge funds have recently changed their holdings in the company. UBS Asset Management Americas Inc. increased its stake in shares of Lakeland Bancorp by 1.6% in the third quarter. UBS Asset Management Americas Inc. now owns 61,899 shares of the financial services provider worth $1,091,000 after buying 997 additional shares last quarter. Bank of New York Mellon Corp increased its holdings of Lakeland Bancorp shares by 6.8% in the third quarter. Bank of New York Mellon Corp now owns 362,944 shares of the financial services provider worth $6,399,000 after buying an additional 23,079 shares last quarter. BNP Paribas Arbitrage SA increased its stake in Lakeland Bancorp shares by 102.4% in the third quarter. BNP Paribas Arbitrage SA now owns 13,792 shares of the financial services provider worth $243,000 after buying an additional 6,977 shares last quarter. Thrivent Financial for Lutherans increased its equity stake in Lakeland Bancorp by 67.7% in Q3. Thrivent Financial for Lutherans now owns 95,563 shares of the financial services provider worth $1,684,000 after buying an additional 38,573 shares last quarter. Finally, Two Sigma Advisers LP increased its equity stake in Lakeland Bancorp by 231.1% in the third quarter. Two Sigma Advisers LP now owns 202,726 shares of the financial services provider worth $3,574,000 after buying an additional 141,500 shares last quarter. 62.07% of the shares are held by institutional investors and hedge funds.
Shares of LBAI opened at $20.43 on Tuesday. The stock has a 50-day moving average of $18.90 and a two-hundred-day moving average of $17.70. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt ratio of 0.26. 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 also recently disclosed 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 dividend yield of 2.64%. Lakeland Bancorp’s dividend payout ratio is currently 30.34%.
Lakeland Bancorp Company Profile
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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