Lake Shore Bancorp (NASDAQ:LSBK) Announces Quarterly Earnings Results

Lake Shore Bancorp (NASDAQ:LSBK) announced its earnings results on Wednesday. The savings and loans company reported $0.29 earnings per share (EPS) for the quarter, FiscalAI reports. Lake Shore Bancorp had a return on equity of 6.30% and a net margin of 20.23%.The business had revenue of $7.64 million for the quarter.

Lake Shore Bancorp Trading Down 0.5%

Shares of NASDAQ LSBK traded down $0.08 during trading on Wednesday, reaching $16.85. 4,320 shares of the company traded hands, compared to its average volume of 8,908. Lake Shore Bancorp has a 12-month low of $11.96 and a 12-month high of $17.96. The stock has a market cap of $132.49 million, a P/E ratio of 14.28 and a beta of 0.28. The firm’s fifty day simple moving average is $16.42 and its 200 day simple moving average is $15.78.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in LSBK. Royal Bank of Canada purchased a new stake in shares of Lake Shore Bancorp during the 1st quarter worth about $63,000. Bank of America Corp DE increased its stake in shares of Lake Shore Bancorp by 35.0% in the 3rd quarter. Bank of America Corp DE now owns 6,102 shares of the savings and loans company’s stock valued at $79,000 after purchasing an additional 1,581 shares in the last quarter. Bridgeway Capital Management LLC purchased a new position in shares of Lake Shore Bancorp in the 3rd quarter valued at about $145,000. Marquette Asset Management LLC acquired a new position in Lake Shore Bancorp in the 2nd quarter worth about $172,000. Finally, Citadel Advisors LLC acquired a new position in Lake Shore Bancorp in the 3rd quarter worth about $185,000. Hedge funds and other institutional investors own 8.75% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Lake Shore Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, July 16th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

About Lake Shore Bancorp

Lake Shore Bancorp, Inc operates as a savings and loan holding company for Lake Shore Servings Bank. It offers personal services such as checking, savings, lending, banking, debit card, e-services, and online banking; and business services including deposit products, commercial loans, and business e-statements. The company was founded in 2006 and is headquartered in Dunkirk, NY.