Lakeland Bancorp (NASDAQ:LBAI) Trading 3.5% Higher

Lakeland Bancorp, Inc. (NASDAQ:LBAI) was up 3.5% during trading on Friday . The company traded as high as $11.83 and last traded at $11.76. Approximately 75,151 shares were traded during trading, a decline of 75% from the average daily volume of 296,046 shares. The stock had previously closed at $11.36.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on LBAI shares. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Friday, April 12th. Keefe, Bruyette & Woods cut their target price on Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a research note on Tuesday, January 30th.

Lakeland Bancorp Price Performance

The company has a 50-day moving average of $11.98 and a 200 day moving average of $12.72. The stock has a market capitalization of $770.72 million, a PE ratio of 9.33 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Lakeland Bancorp had a return on equity of 7.43% and a net margin of 16.42%. The business had revenue of $72.09 million during the quarter. Sell-side analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current year.

Lakeland Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 4.90%. The ex-dividend date of this dividend was Friday, February 2nd. Lakeland Bancorp’s dividend payout ratio (DPR) is 45.31%.

Institutional Trading of Lakeland Bancorp

Institutional investors have recently modified their holdings of the business. Advisor Group Holdings Inc. increased its stake in Lakeland Bancorp by 335.6% in the first quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,463 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of Lakeland Bancorp by 18.7% in the first quarter. Bank of New York Mellon Corp now owns 341,162 shares of the financial services provider’s stock worth $5,698,000 after buying an additional 53,844 shares during the period. HighTower Advisors LLC purchased a new position in Lakeland Bancorp in the first quarter valued at about $865,000. MetLife Investment Management LLC boosted its holdings in Lakeland Bancorp by 93.5% in the first quarter. MetLife Investment Management LLC now owns 32,726 shares of the financial services provider’s stock valued at $547,000 after purchasing an additional 15,810 shares during the last quarter. Finally, Rhumbline Advisers raised its stake in Lakeland Bancorp by 4.7% during the first quarter. Rhumbline Advisers now owns 75,766 shares of the financial services provider’s stock valued at $1,265,000 after buying an additional 3,389 shares in the last quarter. 59.62% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.