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

Lakeland Bancorp

19/04/2024 14:32

* Lakeland Bancorp Inc  LBAI.OQ  reported quarterly adjusted
earnings of 30 cents​​ per share for the quarter ended in March,
identical to the same quarter last year.  The mean expectation
of two analysts for the quarter was for earnings of 27 cents per
share. Wall Street expected results to range from 26 cents to 28
cents per share.
    * Revenue fell 17.2% to $67.55 million from a year ago;
analysts
expected $69.61 million. 
    * Lakeland Bancorp Inc's reported EPS for the quarter was 30
cents​.
    * The company reported quarterly net income of $19.8
million.
    * Lakeland Bancorp Inc shares had fallen by 6.1% this
quarter and
lost 23.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 9% in
the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "hold"
and
the breakdown of recommendations is no "strong buy" or "buy," 2
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the banks peer
group is
also "hold"

Wall Street's median 12-month price target for Lakeland Bancorp
Inc is $15.33 
This summary was machine generated from LSEG data April 19 at
01:31 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Mar. 31 2024      0.27           0.30           Beat
 Dec. 31 2023      0.32           0.30           Missed
 Sep. 30 2023      0.34           0.34           Met
 Jun. 30 2023      0.39           0.34           Missed