$82.00 million in sales expected for Lakeland Bancorp, Inc. (NASDAQ: LBAI) this quarter
Brokers expect Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) to report sales 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 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.
The 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.
Get a free copy of Zacks’ research report on Lakeland Bancorp (LBAI)
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 hold…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