Lakeland Bancorp Inc reports results for the quarter ended in June - Earnings Summary

Lakeland Bancorp

27/07/2023 16:06

* Lakeland Bancorp Inc  LBAI.OQ  reported quarterly adjusted
earnings of 34 cents​​ per share for the quarter ended in June.
The mean expectation of three analysts for the quarter was
for earnings of 39 cents per share.
    * Revenue fell 10.5% to $78.21 million from a year ago;
analysts
expected $81.40 million. 
    * Lakeland Bancorp Inc's reported EPS for the quarter was 34
cents​.
    * The mean earnings estimate of analysts had fallen by
about 17.5%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate 
    * Lakeland Bancorp Inc shares had risen by 18.0% this
quarter and
lost 10.3% so far this year.
    * The company reported quarterly net income of $22.63
million.
    * Wall Street's median 12-month price target for Lakeland
Bancorp
Inc is $19.00 
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 3
"hold" and no "sell" or "strong sell." 

This summary was machine generated from LSEG Refinitiv data July
27 at 03:06 p.m. UTC. ​All figures in US dollars unless
otherwise stated. QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2023      0.39           0.34           Missed
 Mar. 31 2023      0.46           0.30           Missed
 Dec. 31 2022      0.49           0.51           Beat
 Sep. 30 2022      0.49           0.44           Missed