Zacks: Brokerages Expect Lakeland Bancorp, Inc. (LBAI) Will Post Earnings of $0.35 Per Share

Wall Street brokerages forecast that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will announce earnings per share (EPS) of $0.35 for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for Lakeland Bancorp’s earnings, with the lowest EPS estimate coming in at $0.35 and the highest estimate coming in at $0.36. Lakeland Bancorp reported earnings of $0.33 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 6.1%. The business is scheduled to report its next quarterly earnings results on Thursday, July 25th.

On average, analysts expect that Lakeland Bancorp will report full-year earnings of $1.43 per share for the current fiscal year, with EPS estimates ranging from $1.40 to $1.45. For the next fiscal year, analysts anticipate that the business will post earnings of $1.47 per share, with EPS estimates ranging from $1.40 to $1.51. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Lakeland Bancorp.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.31 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.31. Lakeland Bancorp had a net margin of 25.63% and a return on equity of 10.34%. The business had revenue of $54.33 million during the quarter, compared to the consensus estimate of $53.67 million.

Several equities research analysts have recently commented on LBAI shares. BidaskClub downgraded shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 7th. Zacks Investment Research raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $18.00 target price for the company in a report on Friday, May 24th. ValuEngine cut shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. Boenning Scattergood raised shares of Lakeland Bancorp from a “neutral” rating to an “outperform” rating and set a $19.00 target price for the company in a report on Tuesday, April 30th. Finally, FIG Partners reissued an “outperform” rating on shares of Lakeland Bancorp in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Lakeland Bancorp currently has an average rating of “Buy” and an average price target of $20.13.

Several institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its holdings in shares of Lakeland Bancorp by 2.2% during the first quarter. The Manufacturers Life Insurance Company now owns 29,538 shares of the financial services provider’s stock worth $441,000 after purchasing an additional 646 shares during the last quarter. Legal & General Group Plc increased its holdings in Lakeland Bancorp by 12.4% in the fourth quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock valued at $120,000 after buying an additional 897 shares in the last quarter. Bank of Montreal Can increased its holdings in Lakeland Bancorp by 12.6% in the first quarter. Bank of Montreal Can now owns 13,091 shares of the financial services provider’s stock valued at $196,000 after buying an additional 1,467 shares in the last quarter. Prudential Financial Inc. increased its holdings in Lakeland Bancorp by 1.6% in the fourth quarter. Prudential Financial Inc. now owns 98,286 shares of the financial services provider’s stock valued at $1,456,000 after buying an additional 1,530 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its holdings in Lakeland Bancorp by 1.2% in the third quarter. TIAA CREF Investment Management LLC now owns 131,757 shares of the financial services provider’s stock valued at $2,378,000 after buying an additional 1,588 shares in the last quarter. 55.09% of the stock is owned by hedge funds and other institutional investors.

NASDAQ:LBAI opened at $15.41 on Friday. Lakeland Bancorp has a 12 month low of $13.77 and a 12 month high of $21.15. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market cap of $789.41 million, a PE ratio of 11.50 and a beta of 0.90.

The firm also recently announced a quarterly dividend, which was paid on Friday, May 17th. Investors of record on Thursday, May 9th were issued a dividend of $0.125 per share. This represents a $0.50 annualized dividend and a dividend yield of 3.24%. The ex-dividend date was Wednesday, May 8th. This is a boost from Lakeland Bancorp’s previous quarterly dividend of $0.12. Lakeland Bancorp’s dividend payout ratio (DPR) is 37.31%.

Lakeland Bancorp Company Profile

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

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