Emerald Acquisition Ltd. Invests $1,152,000 in Lakeland Bancorp Inc. (LBAI)
Emerald Acquisition Ltd. bought a new position in Lakeland Bancorp Inc. (NASDAQ:LBAI) during the second quarter, Holdings Channel reports. The institutional investor bought 101,260 shares of the financial services provider’s stock, valued at approximately $1,152,000. Emerald Acquisition Ltd. owned about 0.25% of Lakeland Bancorp at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of LBAI. Prudential Financial Inc. increased its position in shares of Lakeland Bancorp by 6.3% in the first quarter. Prudential Financial Inc. now owns 110,806 shares of the financial services provider’s stock worth $1,125,000 after buying an additional 6,600 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Lakeland Bancorp by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 111,349 shares of the financial services provider’s stock worth $1,130,000 after buying an additional 953 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in shares of Lakeland Bancorp during the first quarter worth approximately $271,000. Geode Capital Management LLC increased its position in shares of Lakeland Bancorp by 6.7% in the first quarter. Geode Capital Management LLC now owns 246,946 shares of the financial services provider’s stock worth $2,506,000 after buying an additional 15,587 shares during the last quarter. Finally, Kennedy Capital Management Inc. purchased a new position in shares of Lakeland Bancorp during the first quarter worth approximately $2,029,000. Hedge funds and other institutional investors own 41.10% of the company’s stock.
Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) traded down 0.43% during trading on Friday, hitting $13.83. 55,720 shares of the company were exchanged. Lakeland Bancorp Inc. has a 12 month low of $9.72 and a 12 month high of $14.13. The stock has a market cap of $614.62 million, a P/E ratio of 15.95 and a beta of 0.97. The company’s 50-day moving average price is $13.62 and its 200 day moving average price is $11.95.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Friday, July 22nd. The financial services provider reported $0.26 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.02. Lakeland Bancorp had a net margin of 21.18% and a return on equity of 9.06%. On average, equities analysts predict that Lakeland Bancorp Inc. will post $0.99 earnings per share for the current fiscal year.
In other Lakeland Bancorp news, Director Edward B. Deutsch sold 5,000 shares of Lakeland Bancorp stock in a transaction on Friday, August 12th. The shares were sold at an average price of $13.00, for a total value of $65,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.30% of the stock is currently owned by company insiders.
About Lakeland Bancorp
Lakeland Bancorp, Inc is the bank holding company for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
Want to see what other hedge funds are holding LBAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Bancorp Inc. (NASDAQ:LBAI).
Receive News & Ratings for Lakeland Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp Inc. and related companies with MarketBeat.com's FREE daily email newsletter.