Other analysts have also issued reports about the stock. ValuEngine raised shares of Lakeland Bancorp from a strong sell rating to a sell rating in a research report on Tuesday, April 30th. Boenning Scattergood raised shares of Lakeland Bancorp from a neutral rating to an outperform rating and set a $19.00 price target for the company in a research report on Tuesday, April 30th. FIG Partners reissued an outperform rating on shares of Lakeland Bancorp in a research report on Monday, May 6th. Finally, Zacks Investment Research lowered shares of Lakeland Bancorp from a hold rating to a sell rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a sell rating and two have assigned a buy rating to the stock. Lakeland Bancorp has a consensus rating of Hold and an average price target of $19.00.
NASDAQ LBAI opened at $14.51 on Thursday. The company has a 50 day simple moving average of $15.75 and a 200-day simple moving average of $15.89. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.96. The firm has a market capitalization of $759.36 million, a price-to-earnings ratio of 11.06 and a beta of 0.87. Lakeland Bancorp has a 52-week low of $13.77 and a 52-week high of $19.60.
The business also recently declared a quarterly dividend, which was paid on Thursday, August 15th. Stockholders of record on Monday, August 5th were given a $0.125 dividend. This represents a $0.50 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date was Friday, August 2nd. Lakeland Bancorp’s dividend payout ratio (DPR) is 37.31%.
Several hedge funds and other institutional investors have recently bought and sold shares of LBAI. Denali Advisors LLC purchased a new stake in shares of Lakeland Bancorp in the second quarter worth approximately $37,000. HM Payson & Co. bought a new position in Lakeland Bancorp during the second quarter valued at approximately $48,000. Legal & General Group Plc raised its position in Lakeland Bancorp by 12.4% during the fourth quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 897 shares in the last quarter. BNP Paribas Arbitrage SA raised its position in Lakeland Bancorp by 55,011.8% during the first quarter. BNP Paribas Arbitrage SA now owns 9,369 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 9,352 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in Lakeland Bancorp during the first quarter valued at approximately $159,000. 55.89% of the stock is owned by institutional investors and hedge funds.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking 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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