Equities analysts predict that Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) will post sales of $81.44 million for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for Lakeland Bancorp’s earnings, with the highest sales estimate coming in at $82.50 million and the lowest estimate coming in at $79.99 million. Lakeland Bancorp reported sales of $65.01 million during the same quarter last year, which indicates a positive year-over-year growth rate of 25.3%. The company is expected to report its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that Lakeland Bancorp will report full-year sales of $329.56 million for the current year, with estimates ranging from $320.91 million to $334.22 million. For the next fiscal year, analysts forecast that the company will post sales of $356.34 million, with estimates ranging from $339.84 million to $365.54 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The financial services provider reported $0.25 EPS for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.16). Lakeland Bancorp had a net margin of 29.93% and a return on equity of 10.36%. During the same quarter in the prior year, the business earned $0.45 EPS.
Large investors have recently added to or reduced their stakes in the company. Lazard Asset Management LLC purchased a new stake in shares of Lakeland Bancorp in the 4th quarter worth about $28,000. Lindbrook Capital LLC purchased a new stake in Lakeland Bancorp during the 1st quarter valued at about $27,000. Point72 Hong Kong Ltd purchased a new stake in Lakeland Bancorp during the 1st quarter valued at about $48,000. Strs Ohio purchased a new stake in Lakeland Bancorp during the 1st quarter valued at about $48,000. Finally, Advisor Group Holdings Inc. grew its position in Lakeland Bancorp by 335.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,463 shares during the last quarter. 49.32% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:LBAI opened at $14.66 on Friday. The company has a fifty day moving average of $16.08 and a 200 day moving average of $17.79. Lakeland Bancorp has a 52 week low of $14.47 and a 52 week high of $20.69. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.20. The firm has a market capitalization of $949.67 million, a P/E ratio of 8.94 and a beta of 0.87.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 18th. Shareholders of record on Monday, May 9th were given a dividend of $0.145 per share. This is an increase from Lakeland Bancorp’s previous quarterly dividend of $0.14. This represents a $0.58 dividend on an annualized basis and a yield of 3.96%. The ex-dividend date was Friday, May 6th. Lakeland Bancorp’s payout ratio is presently 35.37%.
About Lakeland Bancorp (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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