Maltese Capital Management LLC decreased its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 17.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 165,700 shares of the financial services provider’s stock after selling 34,200 shares during the period. Maltese Capital Management LLC owned about 0.35% of Lakeland Bancorp worth $3,380,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LBAI. Susquehanna International Group LLP acquired a new position in Lakeland Bancorp during the 2nd quarter worth about $1,928,000. Vanguard Group Inc. lifted its stake in Lakeland Bancorp by 5.2% during the 2nd quarter. Vanguard Group Inc. now owns 1,933,398 shares of the financial services provider’s stock worth $36,444,000 after acquiring an additional 95,566 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Lakeland Bancorp by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,312,596 shares of the financial services provider’s stock worth $43,593,000 after acquiring an additional 89,048 shares in the last quarter. WBI Investments Inc. acquired a new position in Lakeland Bancorp during the 2nd quarter worth about $1,634,000. Finally, State Street Corp lifted its stake in Lakeland Bancorp by 10.4% during the 1st quarter. State Street Corp now owns 769,059 shares of the financial services provider’s stock worth $15,078,000 after acquiring an additional 72,147 shares in the last quarter. 52.97% of the stock is currently owned by hedge funds and other institutional investors.

In other news, insider Robert A. Vandenbergh sold 12,738 shares of the stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $20.56, for a total value of $261,893.28. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Edward B. Deutsch sold 3,276 shares of the stock in a transaction dated Monday, November 20th. The shares were sold at an average price of $20.00, for a total value of $65,520.00. The disclosure for this sale can be found here. Insiders sold a total of 21,014 shares of company stock worth $422,413 in the last ninety days. 6.20% of the stock is owned by corporate insiders.

LBAI has been the topic of several research reports. BidaskClub lowered Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research lowered Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Lakeland Bancorp currently has an average rating of “Hold” and an average target price of $22.00.

Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) opened at $20.10 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95. The stock has a market capitalization of $965.99, a PE ratio of 18.72 and a beta of 0.78. Lakeland Bancorp, Inc. has a 12-month low of $15.06 and a 12-month high of $21.90.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.01. The company had revenue of $47.57 million for the quarter, compared to analyst estimates of $47.79 million. Lakeland Bancorp had a return on equity of 9.12% and a net margin of 24.54%. equities research analysts expect that Lakeland Bancorp, Inc. will post 1.12 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Shareholders of record on Monday, November 6th were given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Friday, November 3rd. Lakeland Bancorp’s dividend payout ratio is currently 36.70%.

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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.

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

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