Lakeland Bancorp, Inc. (NASDAQ:LBAI) – Equity researchers Boenning Scattergood released their first-quarter 2022 earnings estimates for Lakeland Bancorp shares in a report released Wednesday, January 26. Boenning Scattergood analyst E. Zwick expects the financial services provider to post earnings of $0.37 per share for the quarter. Boenning Scattergood also released estimates for Lakeland Bancorp Q2 2022 earnings at $0.45 EPS, Q3 2022 earnings at $0.46 EPS, Q4 2022 earnings at $0.47 EPS and earnings for fiscal year 2023 at $1.75 EPS. Lakeland Bancorp Inc (NASDAQ:LBAI) last reported results on Tuesday, January 25. The financial services provider reported earnings per share (EPS) of $0.45 for the quarter, beating the Zacks consensus estimate of $0.42 by $0.03. Lakeland Bancorp had a return on equity of 11.67% and a net margin of 32.78%. In the same period a year earlier, the company had earned earnings per share of $0.37.
Separately, Zacks Investment Research downgraded Lakeland Bancorp from a “hold” to a “sell” rating in a report on Wednesday, October 27.
Shares of LBAI opened at $19.32 on Thursday. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt ratio of 0.26. The company has a 50-day moving average price of $18.96 and a two-hundred-day moving average price of $17.81. Lakeland Bancorp has a 12-month low of $12.79 and a 12-month high of $20.69. The company has a market capitalization of $977.71 million, a P/E ratio of 10.85 and a beta of 0.92.
Several institutional investors and hedge funds have recently increased or reduced their stake in the company. FJ Capital Management LLC increased its holdings of Lakeland Bancorp shares by 40.3% in Q3. FJ Capital Management LLC now owns 3,099,000 shares of the financial services provider valued at $54,638,000 after acquiring an additional 890,000 shares in the last quarter. State Street Corp increased its position in Lakeland Bancorp by 14.2% in the second quarter. State Street Corp now owns 1,402,447 shares of the financial services provider worth $24,515,000 after purchasing an additional 174,669 shares during the period. Two Sigma Advisers LP increased its position in Lakeland Bancorp by 231.1% in Q3. Two Sigma Advisers LP now owns 202,726 shares of the financial services provider worth $3,574,000 after purchasing an additional 141,500 shares during the period. John W. Rosenthal Capital Management Inc. acquired a new stake in Lakeland Bancorp in Q3 worth approximately $1,854,000. Finally, Fuller & Thaler Asset Management Inc. raised its position in Lakeland Bancorp by 22.8% in the third quarter. Fuller & Thaler Asset Management Inc. now owns 468,905 shares of the financial services provider worth $8,267,000 after purchasing an additional 87,087 shares during the period. 62.07% of the shares are held by institutional investors and hedge funds.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc is a bank holding company that provides lending, depository and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, installment loans consumer products, mortgages and safe deposit services.
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