Analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) to report earnings per share (EPS) of $0.33 for the current fiscal quarter, reports Zacks Investment Research. Four analysts provided earnings estimates for Lakeland Bancorp, with the lowest EPS estimate at $0.21 and the highest at $0.48. Lakeland Bancorp posted earnings of $0.45 per share in the same quarter last year, suggesting a negative 26.7% year-over-year growth rate. The company is expected to release its next earnings report on Tuesday, April 26.
On average, analysts expect Lakeland Bancorp to report annual earnings of $1.70 per share for the current fiscal year, with EPS estimates ranging from $1.60 to $1.80. For the next fiscal year, analysts expect the company to post earnings of $1.90 per share, with EPS estimates ranging from $1.75 to $2.00. Zacks Investment Research’s EPS calculations are an average based on a survey of research firms that provide coverage for Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI – Get Rating) last reported results on Wednesday, January 26. The financial services provider reported EPS of $0.45 for the quarter, beating the Zacks consensus estimate of $0.42 by $0.03. Lakeland Bancorp had a return on equity of 11.99% and a net margin of 33.98%. During the same period last year, the company posted earnings per share of $0.37.
Hedge funds and other institutional investors have recently changed their stakes in the company. River Oaks Capital LLC purchased a new stock position in Lakeland Bancorp during the fourth quarter valued at approximately $1,424,000. FJ Capital Management LLC increased its stake in Lakeland Bancorp by 40.3% during the third quarter. FJ Capital Management LLC now owns 3,099,000 shares of the financial services provider worth $54,638,000 after purchasing an additional 890,000 shares during the period. BlackRock Inc. increased its stake in Lakeland Bancorp by 10.6% during the fourth quarter. BlackRock Inc. now owns 4,552,717 shares of the financial services provider worth $86,456,000 after purchasing an additional 436,514 shares during the period. State Street Corp increased its stake in Lakeland Bancorp by 14.2% during the second quarter. State Street Corp now owns 1,402,447 shares of the financial services provider worth $24,515,000 after purchasing an additional 174,669 shares during the period. Finally, Two Sigma Advisers LP increased its equity stake in Lakeland Bancorp by 231.1% during the third quarter. Two Sigma Advisers LP now owns 202,726 shares of the financial services provider valued at $3,574,000 after buying an additional 141,500 shares in the last quarter. 63.30% of the shares are currently held by institutional investors.
The NASDAQ LBAI traded down $0.32 on Friday, hitting $17.98. 1,211 shares of the company were traded, against an average volume of 306,318. The company’s 50-day moving average price is $19.07 and its 200-day moving average price is $18.16. Lakeland Bancorp has a 52-week low of $15.31 and a 52-week high of $20.69. The company has a market capitalization of $909.90 million, a price-earnings ratio of 9.74 and a beta of 0.89. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt ratio of 0.26.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 17. Shareholders of record on Monday, February 7 received a dividend of $0.135. The ex-dividend date was Friday, February 4. This represents an annualized dividend of $0.54 and a dividend yield of 3.00%. Lakeland Bancorp’s dividend payout ratio (DPR) is 29.35%.
About Lakeland Bancorp (Get a rating)
Lakeland Bancorp, Inc is a bank holding company that provides lending, depository and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans consumer products, mortgages and safe deposit services.
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