Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) – Investment analysts at DA Davidson issued their Q3 2022 earnings estimates for shares of Lakeland Bancorp in a research note issued on Friday, July 29th. DA Davidson analyst M. Navas anticipates that the financial services provider will post earnings of $0.51 per share for the quarter. The consensus estimate for Lakeland Bancorp’s current full-year earnings is $1.74 per share. DA Davidson also issued estimates for Lakeland Bancorp’s FY2022 earnings at $1.76 EPS and FY2023 earnings at $2.10 EPS.
Separately, Raymond James downgraded shares of Lakeland Bancorp from a “strong-buy” rating to an “outperform” rating and lowered their price target for the stock from $20.00 to $17.00 in a research note on Thursday, July 7th.
Lakeland Bancorp Stock Performance
Lakeland Bancorp (NASDAQ:LBAI – Get Rating) last posted its quarterly earnings data on Thursday, July 28th. The financial services provider reported $0.44 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.44. Lakeland Bancorp had a net margin of 29.93% and a return on equity of 11.24%. The company had revenue of $87.37 million during the quarter, compared to the consensus estimate of $82.13 million. During the same period in the previous year, the firm posted $0.53 EPS.
Hedge Funds Weigh In On Lakeland Bancorp
Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. increased its position in shares of Lakeland Bancorp by 3.9% during the fourth quarter. JPMorgan Chase & Co. now owns 516,822 shares of the financial services provider’s stock valued at $9,814,000 after buying an additional 19,395 shares during the period. Qube Research & Technologies Ltd increased its position in shares of Lakeland Bancorp by 192.8% during the fourth quarter. Qube Research & Technologies Ltd now owns 55,676 shares of the financial services provider’s stock valued at $1,057,000 after buying an additional 36,664 shares during the period. Siena Capital Partners GP LLC purchased a new position in shares of Lakeland Bancorp during the first quarter valued at about $3,808,000. Fifth Lane Capital LP purchased a new position in shares of Lakeland Bancorp during the fourth quarter valued at about $1,059,000. Finally, D.A. Davidson & CO. purchased a new position in shares of Lakeland Bancorp during the fourth quarter valued at about $326,000. 49.32% of the stock is owned by institutional investors.
Lakeland Bancorp Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 17th. Shareholders of record on Monday, August 8th will be paid a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 3.64%. The ex-dividend date of this dividend is Friday, August 5th. Lakeland Bancorp’s dividend payout ratio is presently 35.37%.
About Lakeland Bancorp
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.
- Get a free copy of the StockNews.com research report on Lakeland Bancorp (LBAI)
- Use These To Find Your Stock’s Support and Resistance Levels
- Is Boeing Stock is Ready for Lift-Off ?
- Elon Musk is Out, But Should You Be In Twitter Stock?
- 3 Earnings Announcements That Could Surprise
- Twitter’s Up For Third Week In A Row: What’s Next For The Stock?
Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.