Sterling Financial Planning Inc. Reduces Stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Sterling Financial Planning Inc. lowered its stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 2.0% in the 4th quarter, HoldingsChannel reports. The fund owned 63,101 shares of the financial services provider’s stock after selling 1,300 shares during the period. Sterling Financial Planning Inc.’s holdings in Lakeland Bancorp were worth $933,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in Lakeland Bancorp in the first quarter worth about $48,000. Advisor Group Holdings Inc. lifted its stake in Lakeland Bancorp by 335.6% in the first quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,463 shares during the last quarter. Great West Life Assurance Co. Can lifted its stake in Lakeland Bancorp by 26.1% in the first quarter. Great West Life Assurance Co. Can now owns 4,169 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 863 shares during the last quarter. Ameritas Investment Partners Inc. raised its stake in shares of Lakeland Bancorp by 24.8% during the first quarter. Ameritas Investment Partners Inc. now owns 4,784 shares of the financial services provider’s stock valued at $80,000 after acquiring an additional 950 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of Lakeland Bancorp during the third quarter valued at approximately $64,000. Hedge funds and other institutional investors own 59.62% of the company’s stock.

Analyst Ratings Changes

LBAI has been the subject of several research analyst reports. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods decreased their price target 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 Stock Up 0.9 %

NASDAQ:LBAI traded up $0.10 during trading hours on Thursday, reaching $11.36. The company’s stock had a trading volume of 287,551 shares, compared to its average volume of 299,115. The company has a market capitalization of $740.10 million, a P/E ratio of 8.88 and a beta of 0.85. Lakeland Bancorp, Inc. has a 12 month low of $10.65 and a 12 month high of $16.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a 50 day moving average price of $11.98 and a two-hundred day moving average price of $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $72.09 million during the quarter. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. Equities analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Friday, February 2nd. Lakeland Bancorp’s dividend payout ratio (DPR) is 45.31%.

Lakeland Bancorp 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.