Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director James E. Hanson II sold 1,225 shares of the business’s stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $16.53, for a total value of $20,249.25. Following the completion of the sale, the director now owns 1,085 shares of the company’s stock, valued at $17,935.05. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
LBAI traded down $0.12 during trading on Wednesday, reaching $16.38. 5,970 shares of the company were exchanged, compared to its average volume of 123,945. The company has a market cap of $781.61 million, a P/E ratio of 14.76 and a beta of 0.89. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.96. Lakeland Bancorp, Inc. has a 52 week low of $15.57 and a 52 week high of $21.90.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. The firm had revenue of $49.26 million during the quarter, compared to the consensus estimate of $50.39 million. Lakeland Bancorp had a return on equity of 10.45% and a net margin of 26.69%. As a group, research analysts anticipate that Lakeland Bancorp, Inc. will post 1.35 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 5th will be paid a dividend of $0.115 per share. The ex-dividend date is Friday, November 2nd. This represents a $0.46 dividend on an annualized basis and a yield of 2.81%. Lakeland Bancorp’s payout ratio is currently 41.44%.
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Victory Capital Management Inc. grew its stake in Lakeland Bancorp by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 19,294 shares of the financial services provider’s stock worth $383,000 after buying an additional 2,648 shares during the last quarter. Xact Kapitalforvaltning AB grew its stake in shares of Lakeland Bancorp by 30.2% in the first quarter. Xact Kapitalforvaltning AB now owns 13,353 shares of the financial services provider’s stock worth $265,000 after purchasing an additional 3,100 shares in the last quarter. Wells Fargo & Company MN grew its stake in shares of Lakeland Bancorp by 3.0% in the third quarter. Wells Fargo & Company MN now owns 107,184 shares of the financial services provider’s stock worth $1,935,000 after purchasing an additional 3,115 shares in the last quarter. Royal Bank of Canada grew its stake in shares of Lakeland Bancorp by 200.8% in the first quarter. Royal Bank of Canada now owns 6,453 shares of the financial services provider’s stock worth $128,000 after purchasing an additional 4,308 shares in the last quarter. Finally, Lucas Capital Management grew its stake in shares of Lakeland Bancorp by 39.3% in the second quarter. Lucas Capital Management now owns 26,819 shares of the financial services provider’s stock worth $532,000 after purchasing an additional 7,567 shares in the last quarter. Hedge funds and other institutional investors own 54.75% of the company’s stock.
A number of research analysts recently commented on LBAI shares. BidaskClub downgraded Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research note on Saturday, September 22nd. Zacks Investment Research upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Boenning Scattergood started coverage on Lakeland Bancorp in a research note on Monday, September 10th. They set a “neutral” rating for the company. ValuEngine downgraded Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, September 12th. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $23.50 price objective on shares of Lakeland Bancorp in a research note on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $19.88.
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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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