Lakeland Bancorp (LBAI) to Release Earnings on Wednesday

Lakeland Bancorp (NASDAQ:LBAI) is scheduled to release its earnings data on Wednesday, January 24th. Analysts expect Lakeland Bancorp to post earnings of $0.28 per share for the quarter.

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, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Lakeland Bancorp had a return on equity of 9.12% and a net margin of 24.54%. The company had revenue of $47.57 million for the quarter, compared to analyst estimates of $47.79 million. On average, analysts expect Lakeland Bancorp to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

Shares of Lakeland Bancorp (LBAI) opened at $20.30 on Wednesday. Lakeland Bancorp has a fifty-two week low of $15.06 and a fifty-two week high of $21.90. The firm has a market capitalization of $961.26, a P/E ratio of 18.80 and a beta of 0.79. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Several analysts have recently weighed in on the company. Zacks Investment Research raised Lakeland Bancorp from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective on the stock in a report on Tuesday, January 2nd. BidaskClub raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.50 price objective on shares of Lakeland Bancorp in a report on Friday, December 22nd. Two research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $23.75.

In related news, Director Edward B. Deutsch sold 3,276 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $20.00, for a total transaction of $65,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Robert A. Vandenbergh sold 12,738 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $20.56, for a total value of $261,893.28. The disclosure for this sale can be found here. Insiders have sold a total of 82,742 shares of company stock worth $1,662,872 in the last three months. 6.20% of the stock is owned by insiders.

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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.

Earnings History for Lakeland Bancorp (NASDAQ:LBAI)

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