Lakeland Bancorp (LBAI) Set to Announce Earnings on Thursday

Lakeland Bancorp (NASDAQ:LBAIGet Rating) will be releasing its earnings data before the market opens on Thursday, January 26th. Analysts expect Lakeland Bancorp to post earnings of $0.50 per share for the quarter.

Lakeland Bancorp (NASDAQ:LBAIGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The financial services provider reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.02). The company had revenue of $87.52 million during the quarter, compared to the consensus estimate of $91.13 million. Lakeland Bancorp had a return on equity of 9.98% and a net margin of 27.42%. On average, analysts expect Lakeland Bancorp to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

Lakeland Bancorp Stock Down 0.7 %

Shares of NASDAQ:LBAI opened at $18.34 on Wednesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.20. Lakeland Bancorp has a 12-month low of $13.91 and a 12-month high of $19.95. The company has a fifty day simple moving average of $18.10 and a 200 day simple moving average of $17.11. The firm has a market cap of $1.19 billion, a PE ratio of 11.76 and a beta of 0.83.

Analysts Set New Price Targets

Several research firms have weighed in on LBAI. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday, January 18th. DA Davidson lowered shares of Lakeland Bancorp from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $18.00 in a research report on Wednesday, September 28th. Finally, Janney Montgomery Scott lowered shares of Lakeland Bancorp from a “buy” rating to a “neutral” rating in a research report on Wednesday, September 28th.

Hedge Funds Weigh In On Lakeland Bancorp

Institutional investors have recently modified their holdings of the company. BlackRock Inc. lifted its holdings in Lakeland Bancorp by 14.4% in the third quarter. BlackRock Inc. now owns 6,155,805 shares of the financial services provider’s stock worth $98,555,000 after purchasing an additional 773,060 shares during the period. Vanguard Group Inc. lifted its holdings in Lakeland Bancorp by 26.4% in the first quarter. Vanguard Group Inc. now owns 3,600,914 shares of the financial services provider’s stock worth $60,135,000 after purchasing an additional 751,881 shares during the period. State Street Corp lifted its holdings in Lakeland Bancorp by 30.0% in the first quarter. State Street Corp now owns 1,742,685 shares of the financial services provider’s stock worth $29,103,000 after purchasing an additional 402,583 shares during the period. Dimensional Fund Advisors LP lifted its holdings in Lakeland Bancorp by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,486,344 shares of the financial services provider’s stock worth $58,223,000 after purchasing an additional 387,300 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in Lakeland Bancorp by 195.8% in the first quarter. Goldman Sachs Group Inc. now owns 250,753 shares of the financial services provider’s stock worth $4,187,000 after purchasing an additional 165,985 shares during the period. Institutional investors own 57.71% of the company’s stock.

Lakeland Bancorp Company Profile

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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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Earnings History for Lakeland Bancorp (NASDAQ:LBAI)

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