Wall Street brokers expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to report earnings per share (EPS) of $0.33 for the current quarter, Zacks reports. Four analysts provided earnings estimates for Lakeland Bancorp, with estimates ranging from $0.21 to $0.48. Lakeland Bancorp posted earnings per share of $0.45 in the same quarter last year, indicating a negative 26.7% year-over-year growth rate. The company is due to announce its next results on Tuesday, April 26.
According to Zacks, analysts expect Lakeland Bancorp to report annual earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.80. For the next fiscal year, analysts expect the company to post earnings of $1.90 per share, with EPS estimates ranging from $1.75 to $2.00. Zacks earnings per share averages are an average based on a survey of sell-side analysts who cover Lakeland Bancorp.
Lakeland Bancorp Inc (NASDAQ:LBAI) last released its quarterly results on Wednesday, January 26. The financial services provider reported earnings per share (EPS) of $0.45 for the quarter, beating analyst consensus estimates of $0.42 by $0.03. Lakeland Bancorp had a return on equity of 11.99% and a net margin of 33.98%. In the same period a year earlier, the company earned earnings per share of $0.37.
Separately, Zacks Investment Research downgraded Lakeland Bancorp from a “hold” rating to a “sell” rating in a Wednesday, October 27 research report.
Shares of LBAI opened at $18.71 on Friday. Lakeland Bancorp has a 52-week low of $14.17 and a 52-week high of $20.69. The company has a market capitalization of $946.84 million, a PE ratio of 10.17 and a beta of 0.89. The company has a fifty-day moving average of $18.97 and a 200-day moving average of $17.91. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt ratio of 0.26.
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 17. Shareholders of record on Monday, February 7 will receive a dividend of $0.135 per share. The ex-dividend date is Friday, February 4. This represents an annualized dividend of $0.54 and a dividend yield of 2.89%. Lakeland Bancorp’s dividend payout ratio is currently 29.35%.
Several institutional investors have recently changed their positions in LBAI. River Oaks Capital LLC purchased a new position in shares of Lakeland Bancorp during the fourth quarter at a value of $1,424,000. FJ Capital Management LLC increased its stake in shares of Lakeland Bancorp by 40.3% during the third quarter. FJ Capital Management LLC now owns 3,099,000 shares of the financial services provider valued at $54,638,000 after purchasing an additional 890,000 shares during the period. State Street Corp increased its stake in shares of Lakeland Bancorp by 14.2% during the second quarter. State Street Corp now owns 1,402,447 shares of the financial services provider valued at $24,515,000 after purchasing an additional 174,669 shares during the period. Two Sigma Advisers LP increased its stake in Lakeland Bancorp shares by 231.1% during 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 during the period. Finally, John W. Rosenthal Capital Management Inc. bought a new position in shares of Lakeland Bancorp during the third quarter at a value of $1,854,000. Hedge funds and other institutional investors hold 62.07% of the company’s shares.
About Lakeland Bancorp
Lakeland Bancorp, Inc is a bank holding company that provides 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, installment loans consumer products, mortgages and safe deposit services.
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