Brokerages predict that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will announce $47.79 million in sales for the current fiscal quarter, Zacks reports. Two analysts have made estimates for Lakeland Bancorp’s earnings, with the lowest sales estimate coming in at $47.54 million and the highest estimate coming in at $48.03 million. Lakeland Bancorp posted sales of $47.42 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The company is scheduled to report its next quarterly earnings results on Thursday, April 26th.
On average, analysts expect that Lakeland Bancorp will report full-year sales of $47.79 million for the current fiscal year, with estimates ranging from $197.44 million to $200.80 million. For the next financial year, analysts forecast that the company will post sales of $214.77 million per share, with estimates ranging from $211.94 million to $217.60 million. Zacks’ sales averages are a mean average based on a survey of analysts that cover Lakeland Bancorp.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Friday, January 26th. The financial services provider reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.31%. The business had revenue of $48.16 million during the quarter, compared to the consensus estimate of $48.21 million.
In other Lakeland Bancorp news, Director Thomas J. Marino acquired 5,000 shares of the company’s stock in a transaction on Saturday, July 28th. The stock was acquired at an average price of $19.08 per share, for a total transaction of $95,400.00. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Edward B. Deutsch sold 6,200 shares of Lakeland Bancorp stock in a transaction dated Wednesday, March 14th. The stock was sold at an average price of $20.85, for a total transaction of $129,270.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,270 shares of company stock valued at $290,805. 6.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. State Street Corp raised its stake in Lakeland Bancorp by 6.7% in the 2nd quarter. State Street Corp now owns 820,868 shares of the financial services provider’s stock worth $15,476,000 after purchasing an additional 51,809 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in Lakeland Bancorp by 4.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 204,060 shares of the financial services provider’s stock worth $3,929,000 after purchasing an additional 8,336 shares in the last quarter. Prudential Financial Inc. raised its stake in Lakeland Bancorp by 8.6% in the 3rd quarter. Prudential Financial Inc. now owns 120,246 shares of the financial services provider’s stock worth $2,453,000 after purchasing an additional 9,530 shares in the last quarter. Citadel Advisors LLC acquired a new stake in Lakeland Bancorp in the 3rd quarter worth about $579,000. Finally, California Public Employees Retirement System raised its stake in Lakeland Bancorp by 6.9% in the 3rd quarter. California Public Employees Retirement System now owns 112,063 shares of the financial services provider’s stock worth $2,286,000 after purchasing an additional 7,263 shares in the last quarter. Institutional investors and hedge funds own 53.64% of the company’s stock.
Shares of Lakeland Bancorp stock traded down $0.70 on Thursday, hitting $19.50. 143,995 shares of the stock were exchanged, compared to its average volume of 109,286. Lakeland Bancorp has a 52 week low of $15.06 and a 52 week high of $21.90. The company has a market cap of $923.58, a P/E ratio of 17.41 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.
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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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