Q2 2022 EPS Estimates for Lakeland Bancorp, Inc. Decreased by Analyst (NASDAQ:LBAI)

Lakeland Bancorp, Inc. (NASDAQ:LBAIGet Rating) – Investment analysts at Boenning Scattergood cut their Q2 2022 earnings per share estimates for shares of Lakeland Bancorp in a research note issued on Thursday, April 28th. Boenning Scattergood analyst E. Zwick now anticipates that the financial services provider will post earnings of $0.43 per share for the quarter, down from their prior estimate of $0.45. Boenning Scattergood also issued estimates for Lakeland Bancorp’s FY2023 earnings at $1.80 EPS.

Lakeland Bancorp (NASDAQ:LBAIGet Rating) last released its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.25 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.16). Lakeland Bancorp had a net margin of 33.98% and a return on equity of 11.86%. During the same quarter in the previous year, the business earned $0.45 EPS.

Other equities analysts also recently issued reports about the company. StockNews.com started coverage on Lakeland Bancorp in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Zacks Investment Research cut Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 30th.

NASDAQ:LBAI opened at $15.59 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 8.47 and a beta of 0.86. Lakeland Bancorp has a 52 week low of $15.31 and a 52 week high of $20.69. The company has a quick ratio of 0.87, a current ratio of 0.87 and a debt-to-equity ratio of 0.25. The firm has a 50 day moving average of $16.94 and a 200 day moving average of $18.12.

A number of hedge funds have recently modified their holdings of the stock. Raymond James Financial Services Advisors Inc. grew its stake in Lakeland Bancorp by 3.3% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 21,728 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 690 shares during the last quarter. Cubist Systematic Strategies LLC lifted its holdings in shares of Lakeland Bancorp by 4.5% during the fourth quarter. Cubist Systematic Strategies LLC now owns 17,644 shares of the financial services provider’s stock worth $335,000 after purchasing an additional 763 shares during the period. UBS Asset Management Americas Inc. boosted its position in Lakeland Bancorp by 1.6% in the third quarter. UBS Asset Management Americas Inc. now owns 61,899 shares of the financial services provider’s stock valued at $1,091,000 after buying an additional 997 shares during the last quarter. Brinker Capital Investments LLC increased its holdings in Lakeland Bancorp by 4.9% in the 4th quarter. Brinker Capital Investments LLC now owns 22,552 shares of the financial services provider’s stock worth $428,000 after buying an additional 1,050 shares during the period. Finally, Metropolitan Life Insurance Co NY raised its position in Lakeland Bancorp by 11.5% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 12,366 shares of the financial services provider’s stock worth $218,000 after buying an additional 1,274 shares during the last quarter. Institutional investors own 63.30% of the company’s stock.

Lakeland Bancorp Company Profile (Get Rating)

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that offers various banking products and services for individuals and small to medium sized businesses. The company provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits.

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

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