Brokerages Expect Lakeland Bancorp, Inc. (LBAI) to Announce $0.31 Earnings Per Share

Analysts forecast that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will report $0.31 earnings per share for the current quarter, Zacks reports. Three analysts have made estimates for Lakeland Bancorp’s earnings, with the highest EPS estimate coming in at $0.32 and the lowest estimate coming in at $0.30. Lakeland Bancorp reported earnings per share of $0.32 during the same quarter last year, which suggests a negative year-over-year growth rate of 3.1%. The firm is scheduled to report its next quarterly earnings results on Wednesday, April 24th.

On average, analysts expect that Lakeland Bancorp will report full year earnings of $1.37 per share for the current financial year, with EPS estimates ranging from $1.35 to $1.40. For the next financial year, analysts forecast that the firm will post earnings of $1.47 per share, with EPS estimates ranging from $1.42 to $1.52. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research firms that follow Lakeland Bancorp.

Lakeland Bancorp (NASDAQ:LBAI) last announced its earnings results on Monday, January 28th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The firm had revenue of $49.83 million for the quarter, compared to the consensus estimate of $49.63 million. Lakeland Bancorp had a net margin of 26.93% and a return on equity of 10.67%.



Several analysts have commented on LBAI shares. BidaskClub downgraded shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, March 7th. Zacks Investment Research cut shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 12th. Finally, ValuEngine cut shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday. Three research analysts have rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Lakeland Bancorp presently has a consensus rating of “Hold” and a consensus target price of $19.88.

LBAI stock traded down $0.76 during mid-day trading on Friday, hitting $14.30. 152,141 shares of the company were exchanged, compared to its average volume of 94,756. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.96 and a current ratio of 0.96. The company has a market capitalization of $719.82 million, a P/E ratio of 10.67 and a beta of 0.89. Lakeland Bancorp has a 1-year low of $13.77 and a 1-year high of $21.15.

In other news, Director James E. Hanson II bought 1,585 shares of the firm’s stock in a transaction that occurred on Friday, February 1st. The stock was acquired at an average cost of $15.78 per share, with a total value of $25,011.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.07% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the stock. American Century Companies Inc. acquired a new position in Lakeland Bancorp in the fourth quarter valued at about $711,000. Geode Capital Management LLC raised its stake in Lakeland Bancorp by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 531,252 shares of the financial services provider’s stock valued at $7,867,000 after purchasing an additional 39,672 shares in the last quarter. Millennium Management LLC raised its stake in Lakeland Bancorp by 6.2% in the fourth quarter. Millennium Management LLC now owns 131,184 shares of the financial services provider’s stock valued at $1,943,000 after purchasing an additional 7,703 shares in the last quarter. Legal & General Group Plc raised its stake in Lakeland Bancorp by 12.4% in the fourth quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock valued at $120,000 after purchasing an additional 897 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Lakeland Bancorp by 2.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 117,920 shares of the financial services provider’s stock valued at $1,845,000 after purchasing an additional 2,914 shares in the last quarter. 53.23% of the stock is owned by institutional investors and hedge funds.

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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Earnings History and Estimates for Lakeland Bancorp (NASDAQ:LBAI)

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