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.
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.
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