Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 6,200 shares of the stock in a transaction on Wednesday, March 14th. The shares were sold at an average price of $20.85, for a total transaction of $129,270.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Shares of NASDAQ LBAI traded down $0.40 during mid-day trading on Friday, reaching $19.80. The company’s stock had a trading volume of 144,656 shares, compared to its average volume of 120,205. The stock has a market capitalization of $939.63, a price-to-earnings ratio of 17.84 and a beta of 0.84. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51. Lakeland Bancorp, Inc. has a 1-year low of $15.06 and a 1-year high of $21.90.
Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Friday, January 26th. The financial services provider reported $0.29 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.29. The business had revenue of $48.16 million during the quarter, compared to analysts’ expectations of $48.21 million. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.31%. equities research analysts expect that Lakeland Bancorp, Inc. will post 1.36 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the company. First Trust Advisors LP raised its position in shares of Lakeland Bancorp by 2.3% in the fourth quarter. First Trust Advisors LP now owns 123,893 shares of the financial services provider’s stock valued at $2,385,000 after buying an additional 2,843 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Lakeland Bancorp by 13.6% in the second quarter. The Manufacturers Life Insurance Company now owns 34,931 shares of the financial services provider’s stock valued at $659,000 after buying an additional 4,188 shares during the last quarter. California Public Employees Retirement System raised its position in shares of Lakeland Bancorp by 6.9% in the third quarter. California Public Employees Retirement System now owns 112,063 shares of the financial services provider’s stock valued at $2,286,000 after buying an additional 7,263 shares during the last quarter. Brown Advisory Inc. raised its position in shares of Lakeland Bancorp by 46.0% in the third quarter. Brown Advisory Inc. now owns 23,838 shares of the financial services provider’s stock valued at $486,000 after buying an additional 7,514 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in shares of Lakeland Bancorp by 4.3% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 204,060 shares of the financial services provider’s stock valued at $3,929,000 after buying an additional 8,336 shares during the last quarter. Institutional investors and hedge funds own 53.64% of the company’s stock.
Several equities analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Tuesday, April 3rd. BidaskClub raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Friday, March 16th. ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. FIG Partners reaffirmed a “market-perform” rating on shares of Lakeland Bancorp in a report on Monday, January 29th. 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $23.25.
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About Lakeland Bancorp
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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