Lake Shore Bancorp (NASDAQ:LSBK) Posts Quarterly Earnings Results

Lake Shore Bancorp (NASDAQ:LSBK) announced its quarterly earnings results on Wednesday. The savings and loans company reported $0.31 EPS for the quarter, FiscalAI reports. Lake Shore Bancorp had a return on equity of 5.91% and a net margin of 20.74%. The business had revenue of $7.93 million during the quarter.

Lake Shore Bancorp Stock Performance

NASDAQ LSBK opened at $18.18 on Thursday. Lake Shore Bancorp has a twelve month low of $12.75 and a twelve month high of $19.09. The stock has a market capitalization of $142.71 million, a PE ratio of 15.96 and a beta of 0.30. The stock has a 50-day simple moving average of $17.79 and a 200 day simple moving average of $16.86.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of LSBK. HBK Sorce Advisory LLC bought a new stake in shares of Lake Shore Bancorp in the second quarter valued at about $1,454,000. Dimensional Fund Advisors LP boosted its stake in Lake Shore Bancorp by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 45,709 shares of the savings and loans company’s stock worth $694,000 after buying an additional 650 shares in the last quarter. BlackRock Inc. acquired a new stake in Lake Shore Bancorp during the second quarter worth $525,000. Marquette Asset Management LLC acquired a new stake in Lake Shore Bancorp during the second quarter worth $172,000. Finally, Royal Bank of Canada bought a new stake in Lake Shore Bancorp in the 1st quarter valued at $63,000. 8.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LSBK. Weiss Ratings upgraded shares of Lake Shore Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a research note on Friday, September 25th. Wall Street Zen raised shares of Lake Shore Bancorp to a “hold” rating in a research report on Saturday, October 3rd. One equities research analyst has rated the stock with a Strong Buy rating. According to data from MarketBeat.com, Lake Shore Bancorp presently has an average rating of “Strong Buy”.

Lake Shore Bancorp Company Profile

Lake Shore Bancorp, Inc is the holding company for Lake Shore Savings Bank, a community-oriented savings institution headquartered in Dunkirk, New York. Through its banking subsidiary, the company provides financial services to individuals, families, businesses, and nonprofit organizations.

Lake Shore Savings Bank offers deposit products such as checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate and business loans, and consumer financing.