Lakeland Bancorp (NASDAQ:LBAI) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a sell rating to a hold rating in a report issued on Tuesday morning.

Separately, Keefe, Bruyette & Woods lowered their target price on 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 Performance

Lakeland Bancorp stock opened at $12.85 on Tuesday. Lakeland Bancorp has a 12-month low of $10.65 and a 12-month high of $16.00. The stock has a 50-day simple moving average of $11.97 and a 200 day simple moving average of $12.72. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $837.18 million, a price-to-earnings ratio of 10.03 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last announced its earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. The company had revenue of $72.09 million during the quarter. On average, research analysts anticipate that Lakeland Bancorp will post 1.07 earnings per share for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be issued a $0.145 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.58 annualized dividend and a yield of 4.51%. Lakeland Bancorp’s dividend payout ratio is currently 45.31%.

Institutional Trading of Lakeland Bancorp

Institutional investors have recently bought and sold shares of the business. Rise Advisors LLC bought a new position in shares of Lakeland Bancorp in the 1st quarter worth $29,000. Parallel Advisors LLC lifted its stake in Lakeland Bancorp by 4,563.6% in the fourth quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock valued at $30,000 after buying an additional 2,008 shares during the period. Lindbrook Capital LLC lifted its stake in Lakeland Bancorp by 4,356.0% in the fourth quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock valued at $33,000 after buying an additional 2,178 shares during the period. Signaturefd LLC boosted its holdings in Lakeland Bancorp by 212.5% during the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,766 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in shares of Lakeland Bancorp during the 4th quarter worth about $47,000. Institutional investors and hedge funds own 59.62% of the company’s stock.

About Lakeland Bancorp

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.