Lakeland Bancorp, Inc. (NASDAQ:LBAI) Scheduled to Post Earnings on Thursday
Lakeland Bancorp, Inc. (NASDAQ:LBAI) is scheduled to release its earnings data on Thursday, July 20th. Analysts expect Lakeland Bancorp to post earnings of $0.26 per share for the quarter.
Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Thursday, April 27th. The financial services provider reported $0.26 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. Lakeland Bancorp had a net margin of 23.44% and a return on equity of 8.85%. The firm had revenue of $47.42 million for the quarter, compared to analyst estimates of $44.54 million. On average, analysts expect Lakeland Bancorp to post $1.07 EPS for the current fiscal year and $1.24 EPS for the next fiscal year.
Lakeland Bancorp, Inc. (NASDAQ LBAI) traded down 1.04% during midday trading on Thursday, reaching $18.95. 37,775 shares of the company’s stock were exchanged. The firm has a 50 day moving average of $19.17 and a 200-day moving average of $19.30. The stock has a market cap of $897.28 million, a PE ratio of 18.80 and a beta of 0.79. Lakeland Bancorp, Inc. has a 12 month low of $11.21 and a 12 month high of $20.88.
In other news, CAO Timothy J. Matteson sold 2,650 shares of the firm’s stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $19.58, for a total value of $51,887.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stephen R. Sr Tilton, Sr. sold 1,808 shares of the firm’s stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $20.18, for a total transaction of $36,485.44. Following the completion of the transaction, the director now owns 693,805 shares in the company, valued at approximately $14,000,984.90. The disclosure for this sale can be found here. Insiders have sold 30,029 shares of company stock worth $603,568 over the last three months. Insiders own 6.20% of the company’s stock.
Several research firms have commented on LBAI. BidaskClub downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $21.00 price target on the stock in a research note on Thursday, June 1st. ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Finally, Sandler O’Neill downgraded shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $21.00.
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Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc is the bank holding company for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
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