Lakeland Bancorp, Inc. Expected to Post FY2017 Earnings of $1.12 Per Share (LBAI)
Lakeland Bancorp, Inc. (NASDAQ:LBAI) – Research analysts at FIG Partners boosted their FY2017 EPS estimates for Lakeland Bancorp in a note issued to investors on Friday. FIG Partners analyst D. Bishop now forecasts that the financial services provider will post earnings per share of $1.12 for the year, up from their previous forecast of $1.10. FIG Partners also issued estimates for Lakeland Bancorp’s FY2018 earnings at $1.20 EPS, Q1 2019 earnings at $0.34 EPS, Q2 2019 earnings at $0.32 EPS, Q3 2019 earnings at $0.33 EPS and FY2019 earnings at $1.31 EPS.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.01. Lakeland Bancorp had a return on equity of 9.20% and a net margin of 24.54%. The business had revenue of $47.57 million during the quarter, compared to analyst estimates of $47.79 million.
LBAI has been the subject of a number of other reports. Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. BidaskClub lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $22.00.
Lakeland Bancorp (NASDAQ:LBAI) opened at 20.80 on Monday. The company has a market capitalization of $984.92 million, a price-to-earnings ratio of 20.04 and a beta of 0.82. The firm’s 50-day moving average price is $19.94 and its 200 day moving average price is $19.31. Lakeland Bancorp has a one year low of $13.88 and a one year high of $21.40.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th will be paid a dividend of $0.10 per share. The ex-dividend date of this dividend is Friday, November 3rd. This represents a $0.40 dividend on an annualized basis and a yield of 1.92%. Lakeland Bancorp’s dividend payout ratio is presently 36.70%.
In other Lakeland Bancorp news, Director Edward B. Deutsch sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 20th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mark J. Fredericks sold 14,100 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $19.37, for a total transaction of $273,117.00. Following the sale, the director now owns 203,496 shares of the company’s stock, valued at $3,941,717.52. The disclosure for this sale can be found here. 6.20% of the stock is currently owned by insiders.
Hedge funds have recently modified their holdings of the company. Susquehanna International Group LLP bought a new stake in shares of Lakeland Bancorp during the 2nd quarter valued at $1,928,000. First Trust Advisors LP grew its position in shares of Lakeland Bancorp by 53.0% during the 2nd quarter. First Trust Advisors LP now owns 177,325 shares of the financial services provider’s stock valued at $3,343,000 after acquiring an additional 61,420 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Lakeland Bancorp by 9.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,223,548 shares of the financial services provider’s stock valued at $43,582,000 after acquiring an additional 193,369 shares during the period. WBI Investments Inc. bought a new stake in shares of Lakeland Bancorp during the 2nd quarter valued at $1,634,000. Finally, Principal Financial Group Inc. bought a new stake in shares of Lakeland Bancorp during the 2nd quarter valued at $527,000. 52.64% of the stock is owned by hedge funds and other institutional investors.
About Lakeland Bancorp
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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