Wall Street brokers predict that 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, with the lowest sales estimate of $79.10 million and the highest estimate of $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 results on Tuesday, April 26.
According to Zacks, analysts expect Lakeland Bancorp to report annual sales of $338.77 million for the current fiscal year, with estimates ranging from $334.50 million to $343.58 million. For next year, analysts expect the company to record sales of $362.40 million, with estimates ranging from $355.80 million to $369.60 million. Zacks sales averages are an average based on a survey of sell-side research firms that provide coverage for 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 consensus estimate of $0.42 by $0.03. Lakeland Bancorp had a return on equity of 11.86% and a net margin of 33.98%. In the same period last year, the company earned $0.37 per share.
Separately, Zacks Investment Research upgraded Lakeland Bancorp from a “hold” rating to a “strong-buy” rating and set a target price of $20.00 on the stock in a research report on Thursday, March 10.
Several large investors have recently changed their positions in LBAI. River Oaks Capital LLC purchased a new stake in shares of Lakeland Bancorp in the fourth quarter worth approximately $1,424,000. 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 worth $54,638,000 after purchasing an additional 890,000 shares during the period. BlackRock Inc. increased its holdings of Lakeland Bancorp shares by 10.6% during 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. State Street Corp increased its holdings of Lakeland Bancorp shares by 14.2% during 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, 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 purchasing an additional 141,500 shares in the last quarter. 63.30% of the shares are currently held by hedge funds and other institutional investors.
Lakeland Bancorp stock opened at $17.71 on Friday. Lakeland Bancorp has a 12-month low of $15.31 and a 12-month high of $20.69. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.25. The company’s 50-day simple moving average is $18.55 and its 200-day simple moving average is $18.26. The company has a market capitalization of $1.14 billion, a price-earnings ratio of 9.63 and a beta of 0.88.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17. Shareholders 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 dividend yield of 3.05%. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 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.
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Lakeland Bancorp right now?
Before you consider Lakeland Bancorp, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Lakeland Bancorp was not on the list.
While Lakeland Bancorp currently has a “Strong Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here