Lakeland Bancorp (NASDAQ:LBAI) was upgraded by research analysts at BidaskClub from a “strong sell” rating to a “sell” rating in a research note issued to investors on Wednesday.
LBAI has been the subject of several other research reports. Zacks Investment Research lowered Lakeland Bancorp from a “hold” rating to a “sell” rating in a research report on Saturday, January 12th. FIG Partners upgraded Lakeland Bancorp from a “market perform” rating to an “outperform” rating and set a $20.00 target price for the company in a research report on Friday, October 26th. Three investment analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. Lakeland Bancorp has an average rating of “Hold” and a consensus target price of $19.88.
Get Lakeland Bancorp alerts:Shares of LBAI traded up $0.20 during mid-day trading on Wednesday, hitting $16.96. The stock had a trading volume of 85,012 shares, compared to its average volume of 135,715. The firm has a market cap of $795.93 million, a price-to-earnings ratio of 12.66 and a beta of 0.85. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.48. Lakeland Bancorp has a fifty-two week low of $13.77 and a fifty-two week high of $21.20.
Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Monday, January 28th. The financial services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $49.83 million during the quarter, compared to analyst estimates of $49.63 million. Lakeland Bancorp had a return on equity of 10.78% and a net margin of 26.93%. On average, sell-side analysts predict that Lakeland Bancorp will post 1.37 earnings per share for the current fiscal year.
In related news, Director Robert K. Nicholson III acquired 13,000 shares of Lakeland Bancorp stock in a transaction that occurred on Friday, December 21st. The stock was acquired at an average price of $14.45 per share, for a total transaction of $187,850.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director James E. Hanson II acquired 1,585 shares of Lakeland Bancorp stock in a transaction that occurred on Friday, February 1st. The shares were bought at an average price of $15.78 per share, with a total value of $25,011.30. The disclosure for this purchase can be found here. In the last quarter, insiders bought 15,585 shares of company stock valued at $227,511. Insiders own 6.07% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Acadian Asset Management LLC acquired a new position in Lakeland Bancorp during the 4th quarter valued at approximately $49,000. Legal & General Group Plc boosted its position in Lakeland Bancorp by 12.4% during the 4th quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock worth $120,000 after acquiring an additional 897 shares during the period. Panagora Asset Management Inc. acquired a new position in Lakeland Bancorp during the 3rd quarter worth $156,000. Algert Global LLC acquired a new position in Lakeland Bancorp during the 4th quarter worth $153,000. Finally, Hotaling Investment Management LLC acquired a new position in Lakeland Bancorp during the 4th quarter worth $156,000. Institutional investors and hedge funds own 55.58% of the company’s stock.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial 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.
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