Wall Street analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to announce $53.67 million in sales for the current fiscal quarter, according to Zacks. Three analysts have made estimates for Lakeland Bancorp’s earnings, with the lowest sales estimate coming in at $53.20 million and the highest estimate coming in at $54.12 million. Lakeland Bancorp posted sales of $47.57 million in the same quarter last year, which suggests a positive year-over-year growth rate of 12.8%. The firm is expected to issue its next earnings results on Wednesday, April 24th.
On average, analysts expect that Lakeland Bancorp will report full-year sales of $223.39 million for the current financial year, with estimates ranging from $221.87 million to $225.60 million. For the next year, analysts forecast that the business will report sales of $235.45 million, with estimates ranging from $228.56 million to $241.50 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Monday, January 28th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $49.83 million for the quarter, compared to analyst estimates of $49.63 million. Lakeland Bancorp had a net margin of 26.93% and a return on equity of 10.67%.
Shares of LBAI stock traded down $0.32 during trading hours on Thursday, reaching $15.64. The company had a trading volume of 61,559 shares, compared to its average volume of 92,282. Lakeland Bancorp has a one year low of $13.77 and a one year high of $21.15. The firm has a market capitalization of $788.82 million, a PE ratio of 11.67 and a beta of 0.87. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.46.
In other Lakeland Bancorp news, Director James E. Hanson II purchased 1,585 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The shares were bought 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 can be accessed through this link. 6.07% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of LBAI. BlackRock Inc. raised its position in shares of Lakeland Bancorp by 3.6% in the 4th quarter. BlackRock Inc. now owns 3,286,931 shares of the financial services provider’s stock valued at $48,680,000 after purchasing an additional 113,157 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lakeland Bancorp by 5.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,900,242 shares of the financial services provider’s stock valued at $42,952,000 after purchasing an additional 150,529 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Lakeland Bancorp by 2.6% in the 3rd quarter. Vanguard Group Inc. now owns 2,121,333 shares of the financial services provider’s stock valued at $38,291,000 after purchasing an additional 53,482 shares during the last quarter. Vanguard Group Inc raised its position in shares of Lakeland Bancorp by 2.6% in the 3rd quarter. Vanguard Group Inc now owns 2,121,333 shares of the financial services provider’s stock valued at $38,291,000 after purchasing an additional 53,482 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of Lakeland Bancorp by 17.1% in the 3rd quarter. Renaissance Technologies LLC now owns 648,630 shares of the financial services provider’s stock valued at $11,708,000 after purchasing an additional 94,730 shares during the last quarter. Institutional investors and hedge funds own 53.33% of the company’s stock.
Lakeland Bancorp Company Profile
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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