Lakeland Bancorp (NASDAQ:LBAI) Shares Down 2.9%

Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) traded down 2.9% during mid-day trading on Tuesday . The company traded as low as $11.98 and last traded at $11.98. 25,643 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 244,997 shares. The stock had previously closed at $12.34.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Wednesday. Keefe, Bruyette & Woods dropped their price objective on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a research note on Tuesday, January 30th.

Lakeland Bancorp Trading Up 2.5 %

The company’s fifty day moving average price is $12.52 and its two-hundred day moving average price is $12.83. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a market cap of $786.98 million, a P/E ratio of 9.45 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. The business had revenue of $72.09 million for the quarter. As a group, sell-side analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 4.79%. The ex-dividend date of this dividend was Friday, February 2nd. Lakeland Bancorp’s payout ratio is 45.31%.

Institutional Investors Weigh In On Lakeland Bancorp

Hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC grew its holdings in Lakeland Bancorp by 4,563.6% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 2,008 shares during the last quarter. Lindbrook Capital LLC grew its holdings in Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 2,178 shares during the last quarter. Signaturefd LLC grew its holdings in Lakeland Bancorp by 212.5% during the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,766 shares during the last quarter. Point72 Hong Kong Ltd bought a new stake in Lakeland Bancorp during the 1st quarter worth about $48,000. Finally, Private Wealth Management Group LLC bought a new stake in Lakeland Bancorp during the 4th quarter worth about $47,000. Institutional investors own 59.62% 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 businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.