Lake Shore Bancorp (NASDAQ:LSBK) Posts Quarterly Earnings Results

Lake Shore Bancorp (NASDAQ:LSBK) issued its earnings results on Wednesday. The savings and loans company reported $0.31 earnings per share (EPS) for the quarter, FiscalAI reports. Lake Shore Bancorp had a net margin of 20.62% and a return on equity of 5.84%. The business had revenue of $7.93 million for the quarter.

Lake Shore Bancorp Stock Up 2.9%

Shares of Lake Shore Bancorp stock opened at $18.71 on Friday. The company has a market cap of $146.87 million, a PE ratio of 16.56 and a beta of 0.30. The business has a 50 day moving average of $17.82 and a 200 day moving average of $16.89. Lake Shore Bancorp has a 52 week low of $12.86 and a 52 week high of $19.09.

Analysts Set New Price Targets

LSBK has been the subject of several research reports. Wall Street Zen upgraded shares of Lake Shore Bancorp to a “hold” rating in a research report on Saturday, October 3rd. Weiss Ratings upgraded shares of Lake Shore Bancorp from a “buy (b)” rating to a “buy (a-)” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Strong Buy rating. Based on data from MarketBeat, Lake Shore Bancorp has an average rating of “Strong Buy”.

Institutional Trading of Lake Shore Bancorp

Several large investors have recently bought and sold shares of LSBK. BlackRock Inc. bought a new stake in shares of Lake Shore Bancorp during the second quarter valued at approximately $525,000. HBK Sorce Advisory LLC bought a new position in shares of Lake Shore Bancorp in the 2nd quarter worth about $1,454,000. Marquette Asset Management LLC bought a new position in shares of Lake Shore Bancorp in the 2nd quarter worth about $172,000. Royal Bank of Canada purchased a new position in Lake Shore Bancorp during the 1st quarter valued at about $63,000. Finally, Dimensional Fund Advisors LP boosted its stake in Lake Shore Bancorp by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 45,709 shares of the savings and loans company’s stock worth $694,000 after acquiring an additional 650 shares in the last quarter. 8.75% of the stock is owned by institutional investors.

About Lake Shore Bancorp

Lake Shore Bancorp, Inc is the holding company for Lake Shore Savings Bank, a community-oriented savings institution headquartered in Dunkirk, New York. Through its banking subsidiary, the company provides financial services to individuals, families, businesses, and nonprofit organizations.

Lake Shore Savings Bank offers deposit products such as checking, savings, money market, and certificate of deposit accounts. Its lending activities include residential mortgages, home equity loans, commercial real estate and business loans, and consumer financing.