Brokerage firms forecast that Lakeland Bancorp, Inc. (NASDAQ:LBAI – received rating) will report revenue of $82.00 million for the current quarter Zacks Investment Research. Four analysts have provided estimates for Lakeland Bancorp’s earnings. The lowest sales estimate is $79.10 million and the highest is $87.60 million. Lakeland Bancorp reported revenue of $62.49 million for the same quarter last year, indicating a positive growth rate of 31.2% year over year. The company is expected to release its next quarterly report on Tuesday, April 26th.
According to Zacks, analysts expect Lakeland Bancorp to report full-year revenue of $338.77 million for the year to date, with estimates ranging from $334.50 million to $343.58 million. For the next fiscal year, analysts expect the company to post revenue of $362.40 million, with estimates ranging from $355.80 million to $369.60 million. Zacks Investment Research’s revenue calculations are an average based on a survey of sell-side research firms covering Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI – received rating) last released its earnings results on Wednesday, January 26th. The financial services firm reported earnings per share (EPS) of $0.45 for the quarter, beating 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%. For the same period last year, the company posted earnings per share of $0.37.
NASDAQ LBAI opened at $18.36 on Friday. The company has a market cap of $929.20 million, a P/E of 9.98 and a beta of 0.89. Lakeland Bancorp has a yearly low of $15.31 and a yearly 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 gearing ratio of 0.26, a current ratio of 0.92 and a quick ratio of 0.92.
The company also recently announced a quarterly dividend, which was paid on Thursday, February 17th. Investors of record received a dividend of $0.135 per share on Monday, February 7th. The ex-dividend date was Friday February 4th. That equates to 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 business. BlackRock Inc. added 10.6% to its position in Lakeland Bancorp during the fourth quarter. BlackRock Inc. now owns 4,552,717 shares of the financial services provider, valued at $86,456,000, after purchasing an additional 436,514 shares 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 firm valued at $54,638,000 after purchasing an additional 890,000 shares last quarter. River Oaks Capital LLC bought a new position in Lakeland Bancorp valued at $1,424,000 during the fourth quarter. 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 purchasing an additional 174,669 shares last quarter. Finally, Geode Capital Management LLC added 0.8% to its position in Lakeland Bancorp during the fourth quarter. Geode Capital Management LLC now owns 877,173 shares of the financial services firm valued at $16,657,000 after purchasing an additional 6,769 shares last quarter. Hedge funds and other institutional investors own 63.30% of the company’s shares.
About Lakeland Bancorp (received rating)
Lakeland Bancorp, Inc is a bank holding company engaged in the provision of credit, custody and related financial services. Consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, Internet banking, secured and unsecured lending, consumer installment loans, mortgage lending, and vaulting services.
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