$0.45 EPS Expected for Lakeland Bancorp, Inc. (NASDAQ:LBAI) This Quarter

Wall Street brokerages expect that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will report earnings of $0.45 per share for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Lakeland Bancorp’s earnings. The highest EPS estimate is $0.47 and the lowest is $0.42. Lakeland Bancorp posted earnings per share of $0.28 during the same quarter last year, which would suggest a positive year over year growth rate of 60.7%. The company is expected to issue its next quarterly earnings report on Thursday, October 28th.

According to Zacks, analysts expect that Lakeland Bancorp will report full-year earnings of $1.86 per share for the current fiscal year, with EPS estimates ranging from $1.83 to $1.88. For the next year, analysts expect that the firm will post earnings of $1.75 per share, with EPS estimates ranging from $1.65 to $1.85. Zacks Investment Research’s EPS calculations are a mean average based on a survey of analysts that that provide coverage for Lakeland Bancorp.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings results on Wednesday, July 21st. The financial services provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.43 by $0.10. Lakeland Bancorp had a return on equity of 10.88% and a net margin of 30.21%. The firm had revenue of $65.01 million for the quarter, compared to analyst estimates of $63.87 million.

LBAI has been the topic of a number of recent analyst reports. Zacks Investment Research lowered Lakeland Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 14th. DA Davidson reaffirmed a “buy” rating on shares of Lakeland Bancorp in a research report on Tuesday, June 29th.

In related news, EVP Paul Ho-Sing-Loy acquired 3,000 shares of the stock in a transaction that occurred on Friday, September 17th. The stock was purchased at an average cost of $16.50 per share, for a total transaction of $49,500.00. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Brian Gragnolati acquired 2,000 shares of the stock in a transaction that occurred on Thursday, September 16th. The shares were bought at an average price of $16.55 per share, with a total value of $33,100.00. Following the completion of the purchase, the director now owns 15,658 shares in the company, valued at $259,139.90. The disclosure for this purchase can be found here. Insiders bought a total of 12,250 shares of company stock valued at $201,723 over the last quarter. Company insiders own 4.24% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Quadrant Capital Group LLC grew its stake in Lakeland Bancorp by 483.1% during the 2nd quarter. Quadrant Capital Group LLC now owns 1,720 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,425 shares during the last quarter. Berman Capital Advisors LLC grew its stake in shares of Lakeland Bancorp by 56.6% in the second quarter. Berman Capital Advisors LLC now owns 2,867 shares of the financial services provider’s stock worth $50,000 after purchasing an additional 1,036 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Lakeland Bancorp by 189.8% in the first quarter. Royal Bank of Canada now owns 7,592 shares of the financial services provider’s stock worth $132,000 after purchasing an additional 4,972 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in shares of Lakeland Bancorp in the first quarter worth $178,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Lakeland Bancorp in the second quarter worth $186,000. Hedge funds and other institutional investors own 59.37% of the company’s stock.

Shares of LBAI traded up $0.17 during trading on Friday, reaching $17.89. The company’s stock had a trading volume of 1,807 shares, compared to its average volume of 183,080. The company has a fifty day moving average of $16.94 and a two-hundred day moving average of $17.41. Lakeland Bancorp has a twelve month low of $10.13 and a twelve month high of $19.35. The company has a market cap of $905.25 million, a price-to-earnings ratio of 10.87 and a beta of 1.02. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17.

The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Monday, August 2nd were issued a $0.135 dividend. The ex-dividend date of this dividend was Friday, July 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.02%. Lakeland Bancorp’s dividend payout ratio (DPR) is 47.79%.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of 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, consumer installment loans, mortgage loans, and safe deposit services.

Further Reading: How Important is Technical Analysis of Stocks

Get a free copy of the Zacks research report on Lakeland Bancorp (LBAI)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Lakeland Bancorp (NASDAQ:LBAI)

Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.