Lakeland Bancorp, Inc. (NASDAQ:LBAI) – Analysts at DA Davidson issued their Q3 2019 earnings per share (EPS) estimates for shares of Lakeland Bancorp in a note issued to investors on Wednesday, September 11th. DA Davidson analyst D. Bishop expects that the financial services provider will post earnings of $0.35 per share for the quarter. DA Davidson has a “Buy” rating on the stock. DA Davidson also issued estimates for Lakeland Bancorp’s FY2019 earnings at $1.40 EPS and FY2020 earnings at $1.44 EPS.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Friday, July 26th. The financial services provider reported $0.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.35. Lakeland Bancorp had a return on equity of 10.22% and a net margin of 24.95%. The company had revenue of $55.59 million for the quarter, compared to the consensus estimate of $56.18 million.
A number of other equities research analysts also recently weighed in on the company. BidaskClub raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research downgraded Lakeland Bancorp from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $18.50.
Shares of LBAI stock opened at $16.21 on Monday. Lakeland Bancorp has a 1-year low of $13.77 and a 1-year high of $18.80. The stock’s 50-day moving average is $15.25 and its 200 day moving average is $15.74. The company has a market cap of $800.25 million, a P/E ratio of 12.10 and a beta of 0.90. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.96.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. boosted its holdings in Lakeland Bancorp by 9.8% in the second quarter. BlackRock Inc. now owns 3,582,779 shares of the financial services provider’s stock worth $57,862,000 after acquiring an additional 320,364 shares in the last quarter. Banc Funds Co. LLC boosted its holdings in Lakeland Bancorp by 1.3% in the second quarter. Banc Funds Co. LLC now owns 1,438,027 shares of the financial services provider’s stock worth $23,224,000 after acquiring an additional 17,999 shares in the last quarter. Northern Trust Corp boosted its holdings in Lakeland Bancorp by 0.7% in the second quarter. Northern Trust Corp now owns 1,265,400 shares of the financial services provider’s stock worth $20,436,000 after acquiring an additional 9,105 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Lakeland Bancorp by 6.6% in the second quarter. Renaissance Technologies LLC now owns 881,600 shares of the financial services provider’s stock worth $14,238,000 after acquiring an additional 54,200 shares in the last quarter. Finally, Nuveen Asset Management LLC acquired a new stake in Lakeland Bancorp in the second quarter worth about $7,346,000. 55.31% of the stock is owned by institutional investors and hedge funds.
Lakeland Bancorp Company Profile
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.