BidaskClub upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a hold rating to a buy rating in a research report released on Friday, March 16th.
Other equities analysts also recently issued reports about the company. FIG Partners restated a market-perform rating on shares of Lakeland Bancorp in a research note on Monday, January 29th. Zacks Investment Research downgraded Lakeland Bancorp from a buy rating to a hold rating in a research report on Wednesday, February 14th. ValuEngine upgraded Lakeland Bancorp from a hold rating to a buy rating in a research report on Thursday, March 1st. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $24.50 price objective on shares of Lakeland Bancorp in a research report on Friday, December 22nd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of Buy and an average price target of $23.25.
Shares of NASDAQ LBAI traded down $0.40 during midday trading on Friday, reaching $19.80. 144,656 shares of the company’s stock were exchanged, compared to its average volume of 120,205. Lakeland Bancorp has a 52-week low of $15.06 and a 52-week high of $21.90. The firm has a market cap of $939.63, a price-to-earnings ratio of 17.84 and a beta of 0.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 0.95.
Lakeland Bancorp (NASDAQ:LBAI) last announced its earnings results on Friday, January 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.29. The business had revenue of $48.16 million for the quarter, compared to analyst estimates of $48.21 million. Lakeland Bancorp had a return on equity of 9.31% and a net margin of 24.38%. research analysts predict that Lakeland Bancorp will post 1.36 EPS for the current year.
In related news, Director Thomas J. Marino purchased 5,000 shares of the company’s stock in a transaction on Saturday, July 28th. The shares were bought at an average price of $19.08 per share, with a total value of $95,400.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Edward B. Deutsch sold 2,870 shares of the business’s stock in a transaction on Friday, March 9th. The shares were sold at an average price of $20.50, for a total transaction of $58,835.00. Following the sale, the director now directly owns 11,905 shares in the company, valued at $244,052.50. The disclosure for this sale can be found here. Insiders sold 14,270 shares of company stock worth $290,805 in the last ninety days. 6.20% of the stock is owned by corporate insiders.
Several institutional investors have recently bought and sold shares of LBAI. Xact Kapitalforvaltning AB purchased a new position in shares of Lakeland Bancorp during the 4th quarter valued at $197,000. Teacher Retirement System of Texas purchased a new position in shares of Lakeland Bancorp during the 4th quarter valued at $296,000. Stone Ridge Asset Management LLC bought a new stake in Lakeland Bancorp in the fourth quarter worth $318,000. MetLife Investment Advisors LLC bought a new stake in Lakeland Bancorp in the fourth quarter worth $383,000. Finally, Brown Advisory Inc. boosted its holdings in Lakeland Bancorp by 46.0% in the third quarter. Brown Advisory Inc. now owns 23,838 shares of the financial services provider’s stock worth $486,000 after purchasing an additional 7,514 shares in the last quarter. Institutional investors and hedge funds own 53.64% of the company’s stock.
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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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