Lakeland Bancorp, Inc. (NASDAQ:LBAI) Expected to Announce Quarterly Sales of $56.18 Million

Analysts expect that Lakeland Bancorp, Inc. (NASDAQ:LBAI) will report $56.18 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for Lakeland Bancorp’s earnings. The lowest sales estimate is $55.76 million and the highest is $56.47 million. Lakeland Bancorp posted sales of $49.20 million during the same quarter last year, which would indicate a positive year over year growth rate of 14.2%. The firm is scheduled to issue its next earnings results on Thursday, July 25th.

On average, analysts expect that Lakeland Bancorp will report full-year sales of $225.92 million for the current fiscal year, with estimates ranging from $224.86 million to $227.30 million. For the next fiscal year, analysts expect that the firm will post sales of $237.40 million, with estimates ranging from $232.71 million to $241.60 million. Zacks’ sales averages are an average based on a survey of sell-side analysts that that provide coverage for Lakeland Bancorp.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. Lakeland Bancorp had a return on equity of 10.34% and a net margin of 25.63%. The business had revenue of $54.33 million for the quarter, compared to the consensus estimate of $53.67 million.

Several equities analysts recently commented on LBAI shares. BidaskClub downgraded Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Tuesday, June 11th. Zacks Investment Research cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. ValuEngine cut shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, March 21st. FIG Partners reissued an “outperform” rating on shares of Lakeland Bancorp in a report on Monday, May 6th. Finally, Boenning Scattergood raised shares of Lakeland Bancorp from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a report on Tuesday, April 30th. Two equities research analysts have rated the stock with a sell rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $20.13.

Lakeland Bancorp stock opened at $15.50 on Wednesday. Lakeland Bancorp has a 12 month low of $13.77 and a 12 month high of $20.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $15.95. The stock has a market capitalization of $781.84 million, a P/E ratio of 11.57 and a beta of 0.90.

A number of hedge funds have recently modified their holdings of the business. Legal & General Group Plc raised its holdings in Lakeland Bancorp by 12.4% during the 4th quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 897 shares during the period. Bank of Montreal Can raised its holdings in Lakeland Bancorp by 12.6% during the 1st quarter. Bank of Montreal Can now owns 13,091 shares of the financial services provider’s stock valued at $196,000 after acquiring an additional 1,467 shares during the period. Prudential Financial Inc. increased its holdings in shares of Lakeland Bancorp by 1.6% in the fourth quarter. Prudential Financial Inc. now owns 98,286 shares of the financial services provider’s stock worth $1,456,000 after purchasing an additional 1,530 shares during the period. Thrivent Financial for Lutherans increased its holdings in shares of Lakeland Bancorp by 2.5% in the fourth quarter. Thrivent Financial for Lutherans now owns 117,920 shares of the financial services provider’s stock worth $1,845,000 after purchasing an additional 2,914 shares during the period. Finally, Brinker Capital Inc. increased its holdings in shares of Lakeland Bancorp by 23.5% in the first quarter. Brinker Capital Inc. now owns 15,878 shares of the financial services provider’s stock worth $237,000 after purchasing an additional 3,017 shares during the period. 55.09% of the stock is currently owned by institutional investors and hedge funds.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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Earnings History and Estimates for Lakeland Bancorp (NASDAQ:LBAI)

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