Keefe, Bruyette & Woods Trims Lakeland Bancorp (NASDAQ:LBAI) Target Price to $14.15

Lakeland Bancorp (NASDAQ:LBAI) had its price objective reduced by equities researchers at Keefe, Bruyette & Woods from $16.65 to $14.15 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price would indicate a potential upside of 12.30% from the company’s current price.

Separately, StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday.

Lakeland Bancorp Price Performance

Shares of LBAI stock opened at $12.60 on Tuesday. Lakeland Bancorp has a 12-month low of $10.65 and a 12-month high of $16.00. The firm has a market capitalization of $820.89 million, a price-to-earnings ratio of 9.84 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. The firm has a fifty day moving average of $11.97 and a 200-day moving average of $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $72.09 million for the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. On average, equities research analysts forecast that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Lakeland Bancorp

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Park Avenue Securities LLC bought a new stake in Lakeland Bancorp during the 1st quarter worth about $429,000. Rise Advisors LLC bought a new stake in shares of Lakeland Bancorp in the 1st quarter valued at about $29,000. Hennessy Advisors Inc. raised its holdings in shares of Lakeland Bancorp by 11.1% in the 4th quarter. Hennessy Advisors Inc. now owns 200,000 shares of the financial services provider’s stock valued at $2,958,000 after purchasing an additional 20,000 shares during the period. Virtu Financial LLC bought a new stake in shares of Lakeland Bancorp in the 4th quarter valued at about $790,000. Finally, Mendon Capital Advisors Corp bought a new stake in shares of Lakeland Bancorp in the 4th quarter valued at about $2,431,000. 59.62% of the stock is owned by institutional investors.

About Lakeland Bancorp

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.