$48.21 Million in Sales Expected for Lakeland Bancorp, Inc. (LBAI) This Quarter
Wall Street brokerages expect that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will announce sales of $48.21 million for the current quarter, according to Zacks. Two analysts have provided estimates for Lakeland Bancorp’s earnings. The highest sales estimate is $48.91 million and the lowest is $47.51 million. Lakeland Bancorp reported sales of $43.34 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 11.2%. The company is scheduled to issue its next quarterly earnings results on Thursday, January 25th.
According to Zacks, analysts expect that Lakeland Bancorp will report full-year sales of $48.21 million for the current fiscal year, with estimates ranging from $189.80 million to $190.03 million. For the next year, analysts expect that the company will report sales of $199.99 million per share, with estimates ranging from $196.48 million to $203.50 million. Zacks’ sales averages are an average based on a survey of analysts that that provide coverage for Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. Lakeland Bancorp had a net margin of 28.85% and a return on equity of 9.53%. The business had revenue of $47.57 million for the quarter, compared to analysts’ expectations of $47.79 million.
In other news, insider Robert A. Vandenbergh sold 12,738 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $20.56, for a total value of $261,893.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Edward B. Deutsch sold 5,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $19.00, for a total transaction of $95,000.00. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.
Several institutional investors have recently modified their holdings of LBAI. Renaissance Technologies LLC grew its holdings in shares of Lakeland Bancorp by 48.5% in the first quarter. Renaissance Technologies LLC now owns 398,900 shares of the financial services provider’s stock worth $7,818,000 after purchasing an additional 130,300 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Lakeland Bancorp in the second quarter worth approximately $1,928,000. Vanguard Group Inc. grew its holdings in shares of Lakeland Bancorp by 5.2% in the second quarter. Vanguard Group Inc. now owns 1,933,398 shares of the financial services provider’s stock worth $36,444,000 after purchasing an additional 95,566 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Lakeland Bancorp by 4.0% in the second quarter. Dimensional Fund Advisors LP now owns 2,312,596 shares of the financial services provider’s stock worth $43,593,000 after purchasing an additional 89,048 shares during the last quarter. Finally, WBI Investments Inc. bought a new position in shares of Lakeland Bancorp in the second quarter worth approximately $1,634,000. Hedge funds and other institutional investors own 52.64% of the company’s stock.
Lakeland Bancorp (NASDAQ LBAI) opened at $20.40 on Wednesday. Lakeland Bancorp has a 52-week low of $15.06 and a 52-week high of $21.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market cap of $965.99, a P/E ratio of 18.21 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date was Friday, November 3rd. Lakeland Bancorp’s payout ratio is currently 37.04%.
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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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