Stock analysts expect Lakeland Bancorp, Inc. (NASDAQ: LBAI) to post revenue of $ 64.77 million for the current fiscal quarter, Zacks reports. Four analysts have released earnings estimates for Lakeland Bancorp. The highest sales estimate is $ 65.14 million and the lowest is $ 64.06 million. Lakeland Bancorp reported sales of $ 61.98 million in the same quarter last year, suggesting a positive year-over-year growth rate of 4.5%. The company is expected to release its next quarterly results on Thursday, January 27.
Zacks says analysts expect Lakeland Bancorp to report annual revenue of $ 257.19 million for the current fiscal year, with estimates ranging from $ 256.00 million to $ 258.51 million of dollars. For the next fiscal year, analysts predict the company will post sales of $ 332.16 million, with estimates ranging from $ 324.74 million to $ 343.81 million. Zacks Investment Research sales averages are an average based on a survey of research companies that cover Lakeland Bancorp.
Lakeland Bancorp (NASDAQ: LBAI) last released its quarterly earnings data on Monday, October 25. The financial services provider reported earnings per share (EPS) of $ 0.47 for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.45 per $ 0.02. Lakeland Bancorp recorded a return on equity of 11.67% and a net margin of 32.78%. The company posted revenue of $ 64.81 million in the quarter, compared to the consensus estimate of $ 65.38 million. In the same quarter of the previous year, the company posted EPS of $ 0.28.
Meanwhile, Zacks Investment Research downgraded Lakeland Bancorp from a “hold” rating to a “sell” rating in a Wednesday October 27th research note.
LBAI shares opened at $ 18.23 on Wednesday. The stock has a fifty-day moving average price of $ 18.35 and a two-hundred-day moving average price of $ 17.59. The company has a debt to equity ratio of 0.26, a quick ratio of 0.92, and a current ratio of 0.92. Lakeland Bancorp has a 52 week low of $ 12.13 and a 52 week high of $ 19.43. The company has a market cap of $ 922.55 million, a price-to-earnings ratio of 10.24 and a beta of 0.91.
The company also recently announced a quarterly dividend, which was paid on Monday, November 15. Shareholders of record on Friday, November 5 received a dividend of $ 0.135. The ex-dividend date of this dividend was Thursday, November 4. This represents an annualized dividend of $ 0.54 and a dividend yield of 2.96%. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 30.34%.
In addition, director Brian Gragnolati acquired 2,000 shares of the company in a transaction that took place on Wednesday 22 September. The stock was acquired at an average cost of $ 16.45 per share, for a total value of $ 32,900.00. The purchase was disclosed in a legal file with the Securities & Exchange Commission, accessible through the SEC website. In addition, Executive Vice President Paul Ho-Sing-Loy acquired 3,000 shares of the company in a transaction that took place on Friday, September 17th. The shares were purchased at an average cost of $ 16.50 per share, for a total value of $ 49,500.00. Disclosure of this purchase can be found here. Insiders bought a total of 12,025 shares of the company valued at $ 200,294 in the past three months. Insiders own 4.24% of the company’s shares.
A number of large investors have recently bought and sold shares in the company. FJ Capital Management LLC increased its stake in Lakeland Bancorp by 40.3% in the third quarter. FJ Capital Management LLC now owns 3,099,000 shares of the financial services provider valued at $ 54,638,000 after acquiring an additional 890,000 shares during the period. Systematic Financial Management LP increased its stake in Lakeland Bancorp by 20.8% in the second quarter. Systematic Financial Management LP now owns 1,609,033 shares of the financial services provider valued at $ 28,126,000 after acquiring an additional 277,139 shares during the period. State Street Corp increased its holdings of Lakeland Bancorp shares by 14.2% in the second quarter. State Street Corp now owns 1,402,447 shares of the financial services provider valued at $ 24,515,000 after purchasing an additional 174,669 shares in the last quarter. Geode Capital Management LLC increased its stake in Lakeland Bancorp shares by 1.4% in the second quarter. Geode Capital Management LLC now owns 869,203 shares of the financial services provider valued at $ 15,193,000 after purchasing an additional 12,240 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. increased its stake in Lakeland Bancorp shares by 22.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 468,905 shares of the financial services provider valued at $ 8,267,000 after purchasing an additional 87,087 shares in the last quarter. 60.11% of the shares are held by hedge funds and other institutional investors.
About Lakeland Bancorp
Lakeland Bancorp, Inc is a banking holding company providing loan, deposit and related financial services. Its consumer banking services include chequing accounts, savings accounts, interest-bearing chequing accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans. consumer, mortgage and secure deposit services.
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