SG Americas Securities LLC cut its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 21.4% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,788 shares of the financial services provider’s stock after selling 1,846 shares during the period. SG Americas Securities LLC’s holdings in Lakeland Bancorp were worth $128,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its position in shares of Lakeland Bancorp by 6.2% during the second quarter. Rhumbline Advisers now owns 51,984 shares of the financial services provider’s stock valued at $980,000 after purchasing an additional 3,052 shares during the period. First Trust Advisors LP increased its position in shares of Lakeland Bancorp by 53.0% during the second quarter. First Trust Advisors LP now owns 177,325 shares of the financial services provider’s stock valued at $3,343,000 after purchasing an additional 61,420 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Lakeland Bancorp by 15.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 185,976 shares of the financial services provider’s stock valued at $3,506,000 after purchasing an additional 25,119 shares during the period. Verus Financial Partners Inc. increased its position in shares of 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 valued at $221,000 after purchasing an additional 61 shares during the period. Finally, Russell Investments Group Ltd. increased its position in shares of Lakeland Bancorp by 5.1% during the second quarter. Russell Investments Group Ltd. now owns 200,693 shares of the financial services provider’s stock valued at $3,783,000 after purchasing an additional 9,763 shares during the period. Institutional investors and hedge funds own 52.64% of the company’s stock.

Shares of Lakeland Bancorp, Inc. (NASDAQ LBAI) opened at 19.25 on Tuesday. The company has a market capitalization of $911.53 million, a PE ratio of 18.55 and a beta of 0.80. Lakeland Bancorp, Inc. has a 52-week low of $13.15 and a 52-week high of $20.88. The stock’s 50 day moving average price is $18.53 and its 200-day moving average price is $19.13.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $46.39 million. Lakeland Bancorp had a return on equity of 9.21% and a net margin of 23.94%. On average, analysts expect that Lakeland Bancorp, Inc. will post $1.10 earnings per share for the current year.

A number of analysts have recently issued reports on LBAI shares. Zacks Investment Research cut Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 30th. ValuEngine upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, BidaskClub cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $22.00.

In other Lakeland Bancorp news, Director Mark J. Fredericks sold 14,100 shares of the firm’s stock in a transaction on 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 approximately $3,941,717.52. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Edward B. Deutsch sold 5,000 shares of the firm’s stock in a transaction on Wednesday, September 20th. The stock was sold at an average price of $19.00, for a total value of $95,000.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,100 shares of company stock valued at $468,117. 6.20% of the stock is currently owned by insiders.

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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.

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

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