$82.00 million in sales expected for Lakeland Bancorp, Inc. (NASDAQ: LBAI) this quarter


Wall Street brokers predict that Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get a rating) will announce revenue of $82.00 million for the current quarter, according to Zacks Investment Research. Four analysts provided earnings estimates for Lakeland Bancorp, with the lowest sales estimate of $79.10 million and the highest estimate of $87.60 million. Lakeland Bancorp reported sales of $62.49 million in the same quarter last year, suggesting a positive year-over-year growth rate of 31.2%. The company is expected to release its next results on Tuesday, April 26.

According to Zacks, analysts expect Lakeland Bancorp to report annual sales of $338.77 million for the current fiscal year, with estimates ranging from $334.50 million to $343.58 million. For next year, analysts expect the company to record sales of $362.40 million, with estimates ranging from $355.80 million to $369.60 million. Zacks sales averages are an average based on a survey of sell-side research firms that provide coverage for Lakeland Bancorp.

Lakeland Bancorp (NASDAQ: LBAI – Get a rating) last reported results on Wednesday, January 26. The financial services provider reported earnings per share (EPS) of $0.45 for the quarter, beating the consensus estimate of $0.42 by $0.03. Lakeland Bancorp had a return on equity of 11.86% and a net margin of 33.98%. In the same period last year, the company earned $0.37 per share.

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Separately, Zacks Investment Research upgraded Lakeland Bancorp from a “hold” rating to a “strong-buy” rating and set a target price of $20.00 on the stock in a research report on Thursday, March 10.

Several large investors have recently changed their positions in LBAI. River Oaks Capital LLC purchased a new stake in shares of Lakeland Bancorp in the fourth quarter worth approximately $1,424,000. FJ Capital Management LLC increased its stake in Lakeland Bancorp by 40.3% in the third quarter. FJ Capital Management LLC now owns 3,099,000 shares of the financial services provider worth $54,638,000 after purchasing an additional 890,000 shares during the period. BlackRock Inc. increased its holdings of Lakeland Bancorp shares by 10.6% during the fourth quarter. BlackRock Inc. now owns 4,552,717 shares of the financial services provider valued at $86,456,000 after buying an additional 436,514 shares in the last quarter. State Street Corp increased its holdings of Lakeland Bancorp shares by 14.2% during the second quarter. State Street Corp now owns 1,402,447 shares of the financial services provider valued at $24,515,000 after buying an additional 174,669 shares in the last quarter. Finally, Two Sigma Advisers LP increased its equity stake in Lakeland Bancorp by 231.1% during the third quarter. Two Sigma Advisers LP now owns 202,726 shares of the financial services provider valued at $3,574,000 after purchasing an additional 141,500 shares in the last quarter. 63.30% of the shares are currently held by hedge funds and other institutional investors.

Lakeland Bancorp stock opened at $17.71 on Friday. Lakeland Bancorp has a 12-month low of $15.31 and a 12-month high of $20.69. The company has a current ratio of 0.87, a quick ratio of 0.87 and a debt ratio of 0.25. The company’s 50-day simple moving average is $18.55 and its 200-day simple moving average is $18.26. The company has a market capitalization of $1.14 billion, a price-earnings ratio of 9.63 and a beta of 0.88.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17. Shareholders of record on Monday, February 7 received a dividend of $0.135 per share. The ex-dividend date was Friday, February 4. This represents a dividend of $0.54 on an annualized basis and a dividend yield of 3.05%. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 29.35%.

About Lakeland Bancorp (Get a rating)

Lakeland Bancorp, Inc is a bank holding company that provides lending, depository and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans consumer products, mortgages and safe deposit services.

See also

Get a free copy of Zacks’ research report on Lakeland Bancorp (LBAI)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

Earnings history and estimates for Lakeland Bancorp (NASDAQ:LBAI)

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