Lakeland Bancorp (LBAI) Set to Announce Earnings on Friday

Lakeland Bancorp (NASDAQ:LBAI) will release its earnings data before the market opens on Friday, April 19th. Analysts expect Lakeland Bancorp to post earnings of $0.26 per share for the quarter.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $72.09 million during the quarter. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. On average, analysts expect Lakeland Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Lakeland Bancorp Stock Down 0.3 %

Shares of NASDAQ:LBAI opened at $11.26 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $733.59 million, a PE ratio of 8.80 and a beta of 0.85. Lakeland Bancorp has a 52 week low of $10.65 and a 52 week high of $16.00. The firm has a 50 day simple moving average of $11.99 and a 200 day simple moving average of $12.73.

Lakeland Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a $0.145 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.58 annualized dividend and a dividend yield of 5.15%. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 45.31%.

Analysts Set New Price Targets

A number of research firms have issued reports on LBAI. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods cut their price target on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a report on Tuesday, January 30th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of LBAI. Advisor Group Holdings Inc. grew its stake in Lakeland Bancorp by 335.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock valued at $54,000 after buying an additional 2,463 shares during the last quarter. Bank of New York Mellon Corp grew its position in Lakeland Bancorp by 18.7% in the 1st quarter. Bank of New York Mellon Corp now owns 341,162 shares of the financial services provider’s stock worth $5,698,000 after purchasing an additional 53,844 shares during the last quarter. HighTower Advisors LLC acquired a new stake in Lakeland Bancorp in the 1st quarter worth $865,000. MetLife Investment Management LLC grew its position in Lakeland Bancorp by 93.5% in the 1st quarter. MetLife Investment Management LLC now owns 32,726 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 15,810 shares during the last quarter. Finally, Rhumbline Advisers grew its position in Lakeland Bancorp by 4.7% in the 1st quarter. Rhumbline Advisers now owns 75,766 shares of the financial services provider’s stock worth $1,265,000 after purchasing an additional 3,389 shares during the last quarter. 59.62% of the stock is currently owned by institutional investors and hedge funds.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.