Brokerages forecast that Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) will announce earnings of $0.42 per share for the current fiscal quarter, Zacks reports. Four analysts have issued estimates for Lakeland Bancorp’s earnings, with the lowest EPS estimate coming in at $0.40 and the highest estimate coming in at $0.43. Lakeland Bancorp reported earnings per share of $0.53 in the same quarter last year, which suggests a negative year over year growth rate of 20.8%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Lakeland Bancorp will report full year earnings of $1.72 per share for the current financial year, with EPS estimates ranging from $1.65 to $1.75. For the next year, analysts forecast that the firm will post earnings of $1.88 per share, with EPS estimates ranging from $1.75 to $2.05. Zacks’ EPS averages are an average based on a survey of research analysts that cover Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI – Get Rating) last released its earnings results on Thursday, April 28th. The financial services provider reported $0.30 EPS for the quarter, missing the consensus estimate of $0.41 by ($0.11). Lakeland Bancorp had a return on equity of 10.36% and a net margin of 29.93%. The company had revenue of $77.17 million for the quarter, compared to analyst estimates of $81.88 million. During the same period in the previous year, the firm earned $0.45 earnings per share.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LBAI. Lindbrook Capital LLC acquired a new position in Lakeland Bancorp during the 1st quarter worth approximately $27,000. Lazard Asset Management LLC acquired a new stake in shares of Lakeland Bancorp in the 4th quarter worth approximately $28,000. Strs Ohio purchased a new stake in Lakeland Bancorp in the 1st quarter valued at approximately $48,000. Point72 Hong Kong Ltd purchased a new stake in Lakeland Bancorp in the 1st quarter valued at approximately $48,000. Finally, Advisor Group Holdings Inc. lifted its stake in Lakeland Bancorp by 335.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,463 shares in the last quarter. Institutional investors own 49.32% of the company’s stock.
Shares of NASDAQ LBAI opened at $15.17 on Thursday. The company has a market capitalization of $982.71 million, a price-to-earnings ratio of 9.25 and a beta of 0.87. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.85 and a quick ratio of 0.85. The business has a 50-day moving average of $15.52 and a two-hundred day moving average of $17.46. Lakeland Bancorp has a 1 year low of $14.47 and a 1 year high of $20.69.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 18th. Shareholders of record on Monday, May 9th were paid a dividend of $0.145 per share. The ex-dividend date was Friday, May 6th. This is an increase from Lakeland Bancorp’s previous quarterly dividend of $0.14. This represents a $0.58 annualized dividend and a yield of 3.82%. Lakeland Bancorp’s dividend payout ratio is currently 35.37%.
About Lakeland Bancorp (Get Rating)
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that offers various banking products and services for individuals and small to medium sized businesses. The company provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits.
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