Connors Investor Services Inc. held its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,833 shares of the financial services provider’s stock at the close of the second quarter. Connors Investor Services Inc.’s holdings in Lakeland Bancorp were worth $336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also bought and sold shares of LBAI. Victory Capital Management Inc. purchased a new position in shares of Lakeland Bancorp in the first quarter worth about $152,000. SG Americas Securities LLC purchased a new position in shares of Lakeland Bancorp in the first quarter worth about $169,000. Legal & General Group Plc raised its stake in Lakeland Bancorp by 5.9% during the first quarter. Legal & General Group Plc now owns 9,989 shares of the financial services provider’s stock worth $195,000 after purchasing an additional 559 shares during the period. Verus Financial Partners Inc. raised its stake in Lakeland Bancorp by 0.5% during the second quarter. Verus Financial Partners Inc. now owns 11,735 shares of the financial services provider’s stock worth $221,000 after purchasing an additional 61 shares during the period. Finally, Virginia Retirement Systems ET AL purchased a new position in Lakeland Bancorp during the second quarter worth about $228,000. 52.64% of the stock is currently owned by hedge funds and other institutional investors.

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A number of brokerages have commented on LBAI. Zacks Investment Research downgraded shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday. BidaskClub downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $22.00.

In other news, Director Edward B. Deutsch sold 5,000 shares of the stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $19.00, for a total transaction of $95,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mark J. Fredericks sold 14,100 shares of the stock in a transaction dated Wednesday, August 2nd. The stock was sold at an average price of $19.37, for a total transaction of $273,117.00. Following the transaction, the director now owns 203,496 shares in the company, valued at $3,941,717.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 24,100 shares of company stock worth $468,117. Insiders own 6.20% of the company’s stock.

Shares of Lakeland Bancorp, Inc. (LBAI) opened at 19.25 on Friday. The stock has a market capitalization of $911.53 million, a P/E ratio of 18.55 and a beta of 0.80. The stock has a 50 day moving average of $18.53 and a 200-day moving average of $19.13. Lakeland Bancorp, Inc. has a 1-year low of $13.15 and a 1-year high of $20.88.

Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.02. The business had revenue of $47.53 million for the quarter, compared to analyst estimates of $46.39 million. Lakeland Bancorp had a net margin of 23.94% and a return on equity of 9.21%. Equities research analysts predict that Lakeland Bancorp, Inc. will post $1.10 earnings per share for the current fiscal year.

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.

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Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

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