Zacks: Analysts Expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) Will Post Quarterly Sales of $63.17 Million


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Equities research analysts predict that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will announce sales of $63.17 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for Lakeland Bancorp’s earnings. The lowest sales estimate is $60.37 million and the highest is $65.90 million. Lakeland Bancorp posted sales of $57.91 million during the same quarter last year, which suggests a positive year-over-year growth rate of 9.1%. The company is scheduled to report its next quarterly earnings report on Thursday, April 29th.

On average, analysts expect that Lakeland Bancorp will report full-year sales of $247.54 million for the current fiscal year, with estimates ranging from $240.30 million to $255.50 million. For the next financial year, analysts forecast that the business will post sales of $254.66 million, with estimates ranging from $242.20 million to $266.59 million. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Lakeland Bancorp.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Wednesday, January 27th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.08. Lakeland Bancorp had a return on equity of 7.75% and a net margin of 20.64%. The company had revenue of $61.98 million for the quarter, compared to the consensus estimate of $59.00 million.

Separately, Zacks Investment Research downgraded shares of Lakeland Bancorp from a “strong-buy” rating to a “sell” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $17.00.

Shares of NASDAQ:LBAI traded up $0.03 on Monday, hitting $17.19. 1,248 shares of the company traded hands, compared to its average volume of 182,713. The stock has a 50 day simple moving average of $17.01 and a 200-day simple moving average of $13.47. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.34. The company has a market cap of $868.11 million, a PE ratio of 15.32 and a beta of 0.97. Lakeland Bancorp has a 52 week low of $8.78 and a 52 week high of $18.60.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 17th. Stockholders of record on Monday, February 8th were paid a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 2.91%. The ex-dividend date was Friday, February 5th. Lakeland Bancorp’s dividend payout ratio is currently 34.97%.

Large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can increased its holdings in Lakeland Bancorp by 66.4% in the 3rd quarter. Great West Life Assurance Co. Can now owns 5,800 shares of the financial services provider’s stock worth $92,000 after buying an additional 2,314 shares in the last quarter. Verus Financial Partners Inc. purchased a new position in shares of Lakeland Bancorp during the fourth quarter valued at approximately $136,000. ProShare Advisors LLC purchased a new position in shares of Lakeland Bancorp during the fourth quarter valued at approximately $137,000. Brinker Capital Investments LLC bought a new position in Lakeland Bancorp during the third quarter valued at approximately $150,000. Finally, SG Americas Securities LLC purchased a new stake in Lakeland Bancorp in the fourth quarter worth approximately $153,000. 56.65% of the stock is currently owned by hedge funds and other institutional investors.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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Earnings History and Estimates for Lakeland Bancorp (NASDAQ:LBAI)

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