Equities research analysts expect Lakeland Bancorp, Inc. (NASDAQ:LBAI) to report $49.63 million in sales for the current quarter, Zacks reports. Three analysts have issued estimates for Lakeland Bancorp’s earnings, with the lowest sales estimate coming in at $49.20 million and the highest estimate coming in at $50.01 million. Lakeland Bancorp reported sales of $48.16 million in the same quarter last year, which indicates a positive year-over-year growth rate of 3.1%. The company is scheduled to report its next quarterly earnings results on Friday, January 25th.

On average, analysts expect that Lakeland Bancorp will report full-year sales of $195.82 million for the current fiscal year, with estimates ranging from $195.30 million to $196.10 million. For the next fiscal year, analysts expect that the company will post sales of $204.48 million, with estimates ranging from $170.20 million to $223.35 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Lakeland Bancorp.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.35. The firm had revenue of $49.26 million for the quarter, compared to the consensus estimate of $50.39 million. Lakeland Bancorp had a return on equity of 10.37% and a net margin of 26.69%.

Several equities research analysts recently issued reports on LBAI shares. BidaskClub downgraded Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 29th. FIG Partners upgraded Lakeland Bancorp from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Friday, October 26th. Zacks Investment Research upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Thursday, October 25th. ValuEngine downgraded Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Boenning Scattergood assumed coverage on Lakeland Bancorp in a report on Monday, September 10th. They set a “neutral” rating on the stock. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $19.88.

Shares of LBAI stock remained flat at $$15.33 on Friday. The company had a trading volume of 152,700 shares, compared to its average volume of 115,943. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.96 and a quick ratio of 0.96. The stock has a market cap of $727.96 million, a P/E ratio of 13.81 and a beta of 0.86. Lakeland Bancorp has a 52-week low of $15.00 and a 52-week high of $21.20.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 15th. Shareholders of record on Monday, November 5th were issued a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, November 2nd. This represents a $0.46 annualized dividend and a yield of 3.00%. Lakeland Bancorp’s dividend payout ratio (DPR) is 41.44%.

In related news, insider Thomas Shara purchased 5,000 shares of the business’s stock in a transaction on Thursday, November 15th. The shares were bought at an average price of $16.12 per share, for a total transaction of $80,600.00. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Mary Ann Deacon purchased 6,750 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were bought at an average price of $16.51 per share, for a total transaction of $111,442.50. Following the acquisition, the director now owns 25,733 shares in the company, valued at $424,851.83. The disclosure for this purchase can be found here. 6.07% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of LBAI. Maltese Capital Management LLC purchased a new stake in Lakeland Bancorp during the 2nd quarter worth about $7,046,000. Principal Financial Group Inc. boosted its position in shares of Lakeland Bancorp by 1,571.8% during the 1st quarter. Principal Financial Group Inc. now owns 215,196 shares of the financial services provider’s stock worth $4,272,000 after acquiring an additional 202,324 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Lakeland Bancorp during the 3rd quarter worth about $3,033,000. BlackRock Inc. boosted its position in shares of Lakeland Bancorp by 5.2% during the 2nd quarter. BlackRock Inc. now owns 3,140,077 shares of the financial services provider’s stock worth $62,331,000 after acquiring an additional 155,603 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Lakeland Bancorp by 5.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,674,225 shares of the financial services provider’s stock worth $53,084,000 after acquiring an additional 135,869 shares in the last quarter. Institutional investors own 55.41% of the company’s stock.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial 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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