Lakeland Bancorp, Inc. (NASDAQ:LBAI) – Equities research analysts at Boenning Scattergood dropped their FY2018 earnings per share (EPS) estimates for shares of Lakeland Bancorp in a research report issued on Thursday, October 25th. Boenning Scattergood analyst E. Zwick now expects that the financial services provider will earn $1.34 per share for the year, down from their prior estimate of $1.35. Boenning Scattergood currently has a “Neutral” rating on the stock. Boenning Scattergood also issued estimates for Lakeland Bancorp’s Q4 2018 earnings at $0.34 EPS, Q1 2019 earnings at $0.30 EPS, Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.36 EPS and Q4 2019 earnings at $0.36 EPS.

Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Thursday, October 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.35. Lakeland Bancorp had a net margin of 26.69% and a return on equity of 10.45%. The company had revenue of $49.26 million for the quarter, compared to the consensus estimate of $50.39 million.

Several other research analysts also recently weighed in on the stock. FIG Partners upgraded shares of Lakeland Bancorp from a “market perform” rating to an “outperform” rating and set a $20.00 price objective on the stock in a report on Friday. Zacks Investment Research upgraded shares of Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $18.00 price objective on the stock in a report on Thursday. BidaskClub downgraded shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. ValuEngine downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, September 12th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $23.50 price objective on shares of Lakeland Bancorp in a report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the stock. Lakeland Bancorp currently has an average rating of “Hold” and a consensus target price of $19.88.

Lakeland Bancorp stock opened at $16.08 on Monday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.96 and a current ratio of 0.96. Lakeland Bancorp has a 12-month low of $15.57 and a 12-month high of $21.90. The firm has a market cap of $763.56 million, a P/E ratio of 14.49 and a beta of 0.82.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Renaissance Technologies LLC raised its holdings in Lakeland Bancorp by 10.0% during the second quarter. Renaissance Technologies LLC now owns 553,900 shares of the financial services provider’s stock worth $10,995,000 after buying an additional 50,500 shares during the last quarter. BlackRock Inc. raised its holdings in Lakeland Bancorp by 5.2% during the second quarter. BlackRock Inc. now owns 3,140,077 shares of the financial services provider’s stock worth $62,331,000 after buying an additional 155,603 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Lakeland Bancorp by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,674,225 shares of the financial services provider’s stock worth $53,084,000 after buying an additional 135,869 shares during the last quarter. Brown Advisory Inc. raised its holdings in Lakeland Bancorp by 43.3% during the first quarter. Brown Advisory Inc. now owns 35,039 shares of the financial services provider’s stock worth $696,000 after buying an additional 10,582 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. acquired a new position in Lakeland Bancorp during the second quarter worth $392,000. Hedge funds and other institutional investors own 54.46% of the company’s stock.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 5th will be issued a dividend of $0.115 per share. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.46 annualized dividend and a yield of 2.86%. Lakeland Bancorp’s payout ratio is 41.44%.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial 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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