Equities research analysts forecast that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will report sales of $56.10 million for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Lakeland Bancorp’s earnings, with the lowest sales estimate coming in at $55.59 million and the highest estimate coming in at $57.00 million. Lakeland Bancorp posted sales of $49.26 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13.9%. The business is expected to report its next earnings report on Thursday, October 24th.
On average, analysts expect that Lakeland Bancorp will report full year sales of $222.31 million for the current year, with estimates ranging from $221.23 million to $223.60 million. For the next financial year, analysts expect that the company will report sales of $232.05 million, with estimates ranging from $227.45 million to $235.60 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Lakeland Bancorp.
LBAI has been the subject of several research analyst reports. FIG Partners reiterated an “outperform” rating on shares of Lakeland Bancorp in a research note on Monday, May 6th. Zacks Investment Research lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. BidaskClub upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, June 28th. Boenning Scattergood upgraded shares of Lakeland Bancorp from a “neutral” rating to an “outperform” rating and set a $19.00 price target for the company in a research note on Tuesday, April 30th. Finally, ValuEngine upgraded shares of Lakeland Bancorp from a “strong sell” rating to a “sell” rating in a research note on Tuesday, April 30th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and two have issued a buy rating to the company’s stock. Lakeland Bancorp presently has a consensus rating of “Hold” and a consensus price target of $19.00.
Shares of NASDAQ:LBAI traded down $0.10 during mid-day trading on Friday, hitting $14.83. The company had a trading volume of 245,731 shares, compared to its average volume of 142,415. The company has a fifty day moving average of $15.94. The firm has a market capitalization of $766.42 million, a P/E ratio of 11.08 and a beta of 0.87. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. Lakeland Bancorp has a one year low of $13.77 and a one year high of $19.70.
The company also recently announced a quarterly dividend, which will be paid on Thursday, August 15th. Stockholders of record on Monday, August 5th will be paid a $0.125 dividend. The ex-dividend date is Friday, August 2nd. This represents a $0.50 annualized dividend and a dividend yield of 3.37%. Lakeland Bancorp’s payout ratio is 37.31%.
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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