Wall Street analysts predict that Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) will report $81.44 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for Lakeland Bancorp’s earnings, with the highest sales estimate coming in at $82.50 million and the lowest estimate coming in at $79.99 million. Lakeland Bancorp posted sales of $65.01 million during the same quarter last year, which would indicate a positive year over year growth rate of 25.3%. The business is expected to announce its next quarterly earnings results on Monday, January 1st.
On average, analysts expect that Lakeland Bancorp will report full-year sales of $329.56 million for the current fiscal year, with estimates ranging from $320.91 million to $334.22 million. For the next fiscal year, analysts expect that the firm will report sales of $356.34 million, with estimates ranging from $339.84 million to $365.54 million. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that follow Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.30 earnings per share for the quarter, missing the consensus estimate of $0.41 by ($0.11). Lakeland Bancorp had a net margin of 29.93% and a return on equity of 10.36%. The firm 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 posted $0.45 EPS.
Shares of Lakeland Bancorp stock traded up $0.18 during mid-day trading on Friday, hitting $15.45. The stock had a trading volume of 113,070 shares, compared to its average volume of 222,194. The firm has a 50-day moving average of $15.82 and a two-hundred day moving average of $17.65. Lakeland Bancorp has a 12-month low of $14.47 and a 12-month high of $20.69. The firm has a market cap of $1.00 billion, a P/E ratio of 9.42 and a beta of 0.87. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.20.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 18th. Shareholders of record on Monday, May 9th were given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend was Friday, May 6th. This is an increase from Lakeland Bancorp’s previous quarterly dividend of $0.14. Lakeland Bancorp’s payout ratio is currently 35.37%.
Institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. raised its position in Lakeland Bancorp by 13.4% in the first quarter. BlackRock Inc. now owns 5,162,942 shares of the financial services provider’s stock valued at $86,220,000 after purchasing an additional 610,225 shares during the period. Vanguard Group Inc. raised its holdings in shares of 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 acquiring an additional 751,881 shares during the last quarter. Dimensional Fund Advisors LP increased its stake 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 valued at $58,223,000 after purchasing an additional 387,300 shares during the last quarter. FJ Capital Management LLC grew its position in Lakeland Bancorp by 40.3% during the third quarter. FJ Capital Management LLC now owns 3,099,000 shares of the financial services provider’s stock valued at $54,638,000 after acquiring an additional 890,000 shares during the period. Finally, State Street Corp increased its holdings in Lakeland Bancorp by 30.0% during the 1st 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 last quarter. 49.32% of the stock is owned by hedge funds and other institutional investors.
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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