Equities analysts expect that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will post $0.26 earnings per share (EPS) for the current quarter, according to Zacks Investment Research. Four analysts have issued estimates for Lakeland Bancorp’s earnings. The lowest EPS estimate is $0.22 and the highest is $0.31. Lakeland Bancorp posted earnings per share of $0.37 during the same quarter last year, which suggests a negative year over year growth rate of 29.7%. The business is expected to report its next quarterly earnings report on Thursday, October 22nd.
On average, analysts expect that Lakeland Bancorp will report full-year earnings of $1.06 per share for the current financial year, with EPS estimates ranging from $1.02 to $1.09. For the next year, analysts forecast that the company will report earnings of $1.11 per share, with EPS estimates ranging from $0.75 to $1.24. Zacks Investment Research’s EPS 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 results on Friday, July 24th. The financial services provider reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.03). The company had revenue of $56.00 million during the quarter, compared to the consensus estimate of $56.53 million. Lakeland Bancorp had a return on equity of 8.47% and a net margin of 21.99%.
In other news, Director Robert E. Mccracken purchased 3,500 shares of the firm’s stock in a transaction on Thursday, July 30th. The stock was acquired at an average cost of $10.29 per share, with a total value of $36,015.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last three months, insiders have acquired 8,681 shares of company stock valued at $87,826. Insiders own 4.31% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Lakeland Bancorp by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 2,446,070 shares of the financial services provider’s stock valued at $27,959,000 after acquiring an additional 56,461 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Lakeland Bancorp by 7.5% during the first quarter. Geode Capital Management LLC now owns 769,131 shares of the financial services provider’s stock worth $8,314,000 after buying an additional 53,344 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Lakeland Bancorp by 3.6% during the second quarter. Nuveen Asset Management LLC now owns 551,437 shares of the financial services provider’s stock worth $6,303,000 after buying an additional 19,398 shares in the last quarter. Foundry Partners LLC grew its position in shares of Lakeland Bancorp by 3.5% during the second quarter. Foundry Partners LLC now owns 327,775 shares of the financial services provider’s stock worth $3,746,000 after buying an additional 11,150 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Lakeland Bancorp by 8.9% during the second quarter. Charles Schwab Investment Management Inc. now owns 325,401 shares of the financial services provider’s stock worth $3,720,000 after buying an additional 26,634 shares in the last quarter. 58.12% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ LBAI traded up $0.04 during mid-day trading on Friday, reaching $10.73. The company had a trading volume of 1,506 shares, compared to its average volume of 181,068. Lakeland Bancorp has a 52 week low of $8.31 and a 52 week high of $17.63. The business’s 50-day moving average is $10.46 and its 200-day moving average is $10.68. The stock has a market cap of $539.50 million, a price-to-earnings ratio of 8.83 and a beta of 1.00. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.37.
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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