Brokerages Expect Lakeland Bancorp, Inc. (NASDAQ: LBAI) to Report Earnings of $ 0.42 per Share


Wall Street analysts predict that Lakeland Bancorp, Inc. (NASDAQ: LBAI) will post earnings per share of $ 0.42 for the current quarter, Zack reports. Four analysts have made estimates for Lakeland Bancorp’s earnings. The highest EPS estimate is $ 0.45 and the lowest is $ 0.41. Lakeland Bancorp reported earnings per share of $ 0.37 in the same quarter last year, indicating a positive year-over-year growth rate of 13.5%. The company is expected to release its next earnings report on Thursday, January 27.

According to Zacks, analysts expect Lakeland Bancorp to report annual earnings of $ 1.89 per share for the current fiscal year, with EPS estimates ranging from $ 1.87 to $ 1.90. For the next fiscal year, analysts predict the company will post earnings of $ 1.70 per share, with EPS estimates ranging from $ 1.63 to $ 1.80. Zacks Investment Research’s earnings per share calculations are an average based on a survey of seller-side research companies that cover Lakeland Bancorp.

Lakeland Bancorp (NASDAQ: LBAI) last reported its results on Monday, October 25. The financial services provider reported earnings per share of $ 0.47 for the quarter, beating the consensus estimate of $ 0.45 by $ 0.02. The company posted revenue of $ 64.81 million in the quarter, compared to the consensus estimate of $ 65.38 million. Lakeland Bancorp had a net margin of 32.78% and a return on equity of 11.67%. In the same quarter of the previous year, the company made a profit of $ 0.28 per share.

Separately, Zacks investment research downgraded Lakeland Bancorp shares from a “hold” rating to a “sell” rating in a research note on Wednesday, October 27.

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Several hedge funds have recently increased or reduced their holdings in LBAI. FJ Capital Management LLC increased its position in shares of Lakeland Bancorp by 130.8% during the 2nd quarter. FJ Capital Management LLC now owns 2,209,000 shares of the financial services provider valued at $ 38,621,000 after purchasing an additional 1,252,000 shares in the last quarter. Systematic Financial Management LP increased its position in Lakeland Bancorp shares by 20.8% in the second quarter. Systematic Financial Management LP now owns 1,609,033 shares of the financial services provider valued at $ 28,126,000 after purchasing an additional 277,139 shares in the last quarter. State Street Corp increased its position in shares of Lakeland Bancorp by 14.2% during the 2nd quarter. State Street Corp now owns 1,402,447 shares of the financial services provider worth $ 24,515,000 after purchasing an additional 174,669 shares in the last quarter. Two Sigma Advisers LP increased its equity stake in Lakeland Bancorp by 231.1% in the third quarter. Two Sigma Advisers LP now owns 202,726 shares of the financial services provider valued at $ 3,574,000 after purchasing an additional 141,500 shares in the last quarter. Finally, John W. Rosenthal Capital Management Inc. purchased a new equity interest in Lakeland Bancorp in the 3rd quarter valued at approximately $ 1,854,000. Institutional investors hold 60.11% of the shares of the company.

The NASDAQ LBAI traded down $ 0.01 during trading hours on Friday, reaching $ 18.64. 72,797 shares were traded, for an average volume of 174,881. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt ratio of 0.26. The stock has a 50-day moving average of $ 18.43 and a 200-day moving average of $ 17.52. The company has a market cap of $ 943.30 million, a price-to-earnings ratio of 10.47 and a beta of 0.91. Lakeland Bancorp has a 12-month low of $ 12.40 and a 12-month high of $ 19.43.

The company also recently announced a quarterly dividend, which was paid on Monday, November 15. Shareholders of record on Friday, November 5 received a dividend of $ 0.135 per share. This represents a dividend of $ 0.54 on an annualized basis and a return of 2.90%. The ex-dividend date of this dividend was Thursday, November 4. Lakeland Bancorp’s payout ratio is 30.34%.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc is a banking holding company providing loan, deposit and related financial services. Its consumer banking services include chequing accounts, savings accounts, interest-bearing chequing accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans. consumer, mortgage and secure deposit services.

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Historical and earnings estimates for Lakeland Bancorp (NASDAQ: LBAI)

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