Wall Street brokerages expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to announce $0.31 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Lakeland Bancorp’s earnings, with estimates ranging from $0.30 to $0.32. Lakeland Bancorp posted earnings of $0.32 per share during the same quarter last year, which would suggest a negative year over year growth rate of 3.1%. The firm is expected to report its next earnings report on Wednesday, April 24th.
According to Zacks, analysts expect that Lakeland Bancorp will report full-year earnings of $1.37 per share for the current year, with EPS estimates ranging from $1.35 to $1.40. For the next fiscal year, analysts forecast that the company will report earnings of $1.47 per share, with EPS estimates ranging from $1.42 to $1.52. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that follow Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Monday, January 28th. The financial services provider reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. Lakeland Bancorp had a net margin of 26.93% and a return on equity of 10.67%. The company had revenue of $49.83 million for the quarter, compared to analyst estimates of $49.63 million.
In other news, Director James E. Hanson II acquired 1,585 shares of Lakeland Bancorp stock in a transaction that occurred on Friday, February 1st. The shares were acquired at an average price of $15.78 per share, with a total value of $25,011.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.07% of the company’s stock.
Several hedge funds have recently modified their holdings of LBAI. Wells Fargo & Company MN raised its stake in shares of Lakeland Bancorp by 3.0% in the 3rd quarter. Wells Fargo & Company MN now owns 107,184 shares of the financial services provider’s stock valued at $1,935,000 after acquiring an additional 3,115 shares during the period. LSV Asset Management raised its stake in shares of Lakeland Bancorp by 17.6% in the 3rd quarter. LSV Asset Management now owns 316,083 shares of the financial services provider’s stock valued at $5,705,000 after acquiring an additional 47,400 shares during the period. BlackRock Inc. raised its stake in shares of Lakeland Bancorp by 1.1% in the 3rd quarter. BlackRock Inc. now owns 3,173,774 shares of the financial services provider’s stock valued at $57,285,000 after acquiring an additional 33,697 shares during the period. Credit Suisse AG raised its stake in shares of Lakeland Bancorp by 37.0% in the 3rd quarter. Credit Suisse AG now owns 62,655 shares of the financial services provider’s stock valued at $1,131,000 after acquiring an additional 16,933 shares during the period. Finally, Panagora Asset Management Inc. purchased a new position in shares of Lakeland Bancorp in the 3rd quarter valued at $156,000. 53.23% of the stock is currently owned by institutional investors and hedge funds.
Shares of LBAI stock traded down $0.02 during trading hours on Friday, hitting $14.93. The company’s stock had a trading volume of 130,439 shares, compared to its average volume of 100,251. The firm has a market capitalization of $751.53 million, a PE ratio of 11.14 and a beta of 0.89. Lakeland Bancorp has a twelve month low of $13.77 and a twelve month high of $21.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96.
About Lakeland Bancorp
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.
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