BidaskClub upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a hold rating to a buy rating in a report released on Thursday.

Several other equities analysts have also recently commented on LBAI. ValuEngine raised shares of Lakeland Bancorp from a hold rating to a buy rating in a research note on Thursday, March 1st. Zacks Investment Research raised shares of Lakeland Bancorp from a hold rating to a buy rating and set a $22.00 price objective for the company in a research note on Friday, March 30th. Finally, Roth Capital set a $18.00 price objective on shares of Lakeland Bancorp and gave the company a buy rating in a research note on Tuesday, May 8th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Lakeland Bancorp presently has a consensus rating of Buy and a consensus price target of $21.50.

Shares of Lakeland Bancorp opened at $20.55 on Thursday, Marketbeat.com reports. The company has a market cap of $978.00 million, a P/E ratio of 17.46 and a beta of 0.85. Lakeland Bancorp has a 12 month low of $15.06 and a 12 month high of $21.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.95 and a quick ratio of 0.95.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Wednesday, April 25th. The financial services provider reported $0.32 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.01). The firm had revenue of $47.57 million for the quarter, compared to analysts’ expectations of $47.79 million. Lakeland Bancorp had a net margin of 25.44% and a return on equity of 9.69%. equities research analysts anticipate that Lakeland Bancorp will post 1.37 earnings per share for the current year.

A number of hedge funds have recently added to or reduced their stakes in the business. First Trust Advisors LP grew its stake in Lakeland Bancorp by 2.3% in the 4th quarter. First Trust Advisors LP now owns 123,893 shares of the financial services provider’s stock worth $2,385,000 after buying an additional 2,843 shares in the last quarter. First Republic Investment Management Inc. grew its stake in Lakeland Bancorp by 9.1% in the 1st quarter. First Republic Investment Management Inc. now owns 37,102 shares of the financial services provider’s stock worth $736,000 after buying an additional 3,095 shares in the last quarter. Xact Kapitalforvaltning AB grew its stake in Lakeland Bancorp by 30.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 13,353 shares of the financial services provider’s stock worth $265,000 after buying an additional 3,100 shares in the last quarter. Swiss National Bank grew its stake in Lakeland Bancorp by 4.7% in the 1st quarter. Swiss National Bank now owns 78,285 shares of the financial services provider’s stock worth $1,554,000 after buying an additional 3,500 shares in the last quarter. Finally, Royal Bank of Canada grew its stake in Lakeland Bancorp by 200.8% in the 1st quarter. Royal Bank of Canada now owns 6,453 shares of the financial services provider’s stock worth $128,000 after buying an additional 4,308 shares in the last quarter. 54.34% of the stock is owned by institutional investors and hedge funds.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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