Brokers expect Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get a rating) will announce revenue of $82.00 million for the current quarter, according to Zacks Investment Research. Four analysts provided earnings estimates for Lakeland Bancorp. The lowest sales estimate is $79.10 million and the highest is $87.60 million. Lakeland Bancorp reported sales of $62.49 million in the same quarter last year, suggesting a positive year-over-year growth rate of 31.2%. The company is expected to release its next quarterly earnings report on Tuesday, April 26.
According to Zacks, analysts expect Lakeland Bancorp to report annual sales of $338.77 million for the current year, with estimates ranging from $334.50 million to $343.58 million. For the next fiscal year, analysts expect the company to post sales of $362.40 million, with estimates ranging from $355.80 to $369.60 million. Zacks Investment Research’s sales calculations are an average average based on a survey of sell-side research firms that cover Lakeland Bancorp.
Lakeland Bancorp (NASDAQ: LBAI – Get a rating) last reported results on Wednesday, January 26. The financial services provider reported earnings per share (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 a year earlier, the company posted earnings per share of $0.37.
NASDAQ LBAI opened at $18.36 on Friday. The company has a market capitalization of $929.20 million, a PE ratio of 9.98 and a beta of 0.89. Lakeland Bancorp has a one-year low of $15.31 and a one-year high of $20.69. The stock’s 50-day simple moving average is $19.07 and its 200-day simple moving average is $18.16. The company has a debt ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 17. Investors of record on Monday, February 7 received a dividend of $0.135 per share. The ex-dividend date was Friday, February 4. This represents a dividend of $0.54 on an annualized basis and a yield of 2.94%. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 29.35%.
A number of institutional investors and hedge funds have recently changed their positions in the company. BlackRock Inc. increased its position in Lakeland Bancorp by 10.6% in the fourth quarter. BlackRock Inc. now owns 4,552,717 shares of the financial services provider valued at $86,456,000 after buying an additional 436,514 shares in the last quarter. FJ Capital Management LLC increased its position 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 purchasing an additional 890,000 shares in the last quarter. River Oaks Capital LLC bought a new position in Lakeland Bancorp in Q4 worth $1,424,000. State Street Corp increased its position in Lakeland Bancorp 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 buying an additional 174,669 shares in the last quarter. Finally, Geode Capital Management LLC strengthened its position in Lakeland Bancorp by 0.8% in the 4th quarter. Geode Capital Management LLC now owns 877,173 shares of the financial services provider valued at $16,657,000 after purchasing an additional 6,769 shares in the last quarter. Hedge funds and other institutional investors own 63.30% of the company’s shares.
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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