Lakeland Bancorp (NASDAQ:LBAI)‘s stock had its “market-perform” rating reaffirmed by investment analysts at FIG Partners in a report released on Monday. FIG Partners also issued estimates for Lakeland Bancorp’s FY2018 earnings at $1.41 EPS, Q1 2019 earnings at $0.37 EPS, Q2 2019 earnings at $0.37 EPS, Q3 2019 earnings at $0.38 EPS, Q4 2019 earnings at $0.39 EPS and FY2019 earnings at $1.52 EPS.
Other analysts also recently issued reports about the stock. BidaskClub raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research raised shares of Lakeland Bancorp from a “hold” rating to a “strong-buy” rating and set a $23.00 price objective for the company in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $24.50 price objective on shares of Lakeland Bancorp in a report on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $23.75.
Shares of Lakeland Bancorp (NASDAQ LBAI) opened at $20.30 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The company has a market cap of $968.36, a P/E ratio of 18.62 and a beta of 0.79. Lakeland Bancorp has a 1 year low of $15.06 and a 1 year high of $21.90.
Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Friday, January 26th. The financial services provider reported $0.29 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.29. The company had revenue of $48.16 million during the quarter, compared to the consensus estimate of $48.21 million. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.37%. sell-side analysts predict that Lakeland Bancorp will post 1.36 EPS for the current fiscal year.
In related news, Director Edward B. Deutsch sold 3,276 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $20.00, for a total transaction of $65,520.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Robert K. Nicholson III sold 37,227 shares of the company’s stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $20.04, for a total transaction of $746,029.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 70,004 shares of company stock valued at $1,400,979. 6.20% of the stock is owned by insiders.
A number of institutional investors have recently modified their holdings of LBAI. Palouse Capital Management Inc. bought a new stake in Lakeland Bancorp in the 3rd quarter valued at $206,000. Legal & General Group Plc boosted its holdings in Lakeland Bancorp by 11.9% in the 2nd quarter. Legal & General Group Plc now owns 11,178 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 1,189 shares during the period. Voya Investment Management LLC boosted its holdings in Lakeland Bancorp by 20.9% in the 2nd quarter. Voya Investment Management LLC now owns 18,191 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 3,150 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Lakeland Bancorp in the 2nd quarter valued at $443,000. Finally, Brown Advisory Inc. boosted its holdings in Lakeland Bancorp by 46.0% in the 3rd quarter. Brown Advisory Inc. now owns 23,838 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 7,514 shares during the period. 52.97% of the stock is owned by hedge funds and other institutional investors.
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Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc is the bank holding company for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
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