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.

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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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