River Oaks Capital LLC Has $4.42 Million Stake in Lakeland Bancorp, Inc. (LBAI)
River Oaks Capital LLC lowered its position in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 3.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 234,600 shares of the financial services provider’s stock after selling 7,400 shares during the period. Lakeland Bancorp accounts for 3.6% of River Oaks Capital LLC’s portfolio, making the stock its 4th largest holding. River Oaks Capital LLC owned about 0.50% of Lakeland Bancorp worth $4,422,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Lakeland Bancorp in the first quarter valued at approximately $152,000. SG Americas Securities LLC acquired a new stake in shares of Lakeland Bancorp in the first quarter valued at approximately $169,000. Legal & General Group Plc increased its holdings in shares of Lakeland Bancorp by 5.9% in the first quarter. Legal & General Group Plc now owns 9,989 shares of the financial services provider’s stock valued at $195,000 after purchasing an additional 559 shares in the last quarter. Verus Financial Partners Inc. increased its holdings in shares of Lakeland Bancorp by 0.5% in the second quarter. Verus Financial Partners Inc. now owns 11,735 shares of the financial services provider’s stock valued at $221,000 after purchasing an additional 61 shares in the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of Lakeland Bancorp in the second quarter valued at approximately $228,000. Institutional investors own 52.64% of the company’s stock.
A number of brokerages recently weighed in on LBAI. Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday. BidaskClub lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Finally, ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company. Lakeland Bancorp presently has an average rating of “Hold” and a consensus target price of $22.00.
Lakeland Bancorp, Inc. (LBAI) traded up 0.52% during mid-day trading on Friday, reaching $19.25. 53,954 shares of the company’s stock were exchanged. 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 12 month low of $13.15 and a 12 month high of $20.88. The firm has a market cap of $911.53 million, a price-to-earnings ratio of 18.55 and a beta of 0.80.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Thursday, July 20th. The financial services provider reported $0.28 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.26 by $0.02. The firm had revenue of $47.53 million for the quarter, compared to the consensus estimate of $46.39 million. Lakeland Bancorp had a net margin of 23.94% and a return on equity of 9.21%. Analysts anticipate that Lakeland Bancorp, Inc. will post $1.10 earnings per share for the current year.
In related 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 filing with the SEC, which can be accessed through the SEC website. Also, Director Mark J. Fredericks sold 14,100 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $19.37, for a total transaction of $273,117.00. Following the sale, the director now directly owns 203,496 shares in the company, valued at $3,941,717.52. The disclosure for this sale can be found here. Insiders sold a total of 24,100 shares of company stock worth $468,117 over the last ninety days. Insiders own 6.20% of the company’s stock.
Lakeland Bancorp Profile
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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