$48.21 Million in Sales Expected for Lakeland Bancorp, Inc. (LBAI) This Quarter
Equities research analysts predict that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will post sales of $48.21 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Lakeland Bancorp’s earnings. The lowest sales estimate is $47.51 million and the highest is $48.91 million. Lakeland Bancorp posted sales of $43.34 million during the same quarter last year, which would indicate a positive year over year growth rate of 11.2%. The firm is expected to report its next quarterly earnings report on Thursday, January 25th.
On average, 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 forecast that the business 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 follow Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Thursday, October 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. The business had revenue of $47.57 million during the quarter, compared to the consensus estimate of $47.79 million. Lakeland Bancorp had a net margin of 24.54% and a return on equity of 9.12%.
Shares of Lakeland Bancorp (NASDAQ LBAI) opened at $20.10 on Friday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The stock has a market cap of $951.79, a P/E ratio of 18.72 and a beta of 0.78. Lakeland Bancorp has a 1 year low of $15.06 and a 1 year high of $21.90.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were issued a dividend of $0.10 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. Lakeland Bancorp’s dividend payout ratio is presently 37.04%.
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 transaction of $261,893.28. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward B. Deutsch sold 5,000 shares of Lakeland Bancorp stock in a transaction that occurred on Wednesday, September 20th. The shares were 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. Insiders have sold 21,014 shares of company stock worth $422,413 over the last ninety days. Insiders own 6.20% of the company’s stock.
A number of large investors have recently made changes to their positions in LBAI. Victory Capital Management Inc. increased its stake in Lakeland Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,108 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 1,366 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Lakeland Bancorp by 5.9% during the first quarter. Legal & General Group Plc now owns 9,989 shares of the financial services provider’s stock worth $195,000 after buying an additional 559 shares during the last quarter. Palouse Capital Management Inc. bought a new stake in shares of Lakeland Bancorp during the third quarter worth $206,000. Virginia Retirement Systems ET AL bought a new stake in shares of Lakeland Bancorp during the second quarter worth $228,000. Finally, Biondo Investment Advisors LLC bought a new stake in shares of Lakeland Bancorp during the second quarter worth $236,000. 52.97% of the stock is currently owned by institutional investors and hedge funds.
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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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