Insider Selling: Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Sells 8,000 Shares of Stock

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy sold 8,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.54, for a total transaction of $100,320.00. Following the sale, the executive vice president now owns 40,763 shares in the company, valued at $511,168.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lakeland Bancorp Stock Performance

Shares of Lakeland Bancorp stock opened at $13.12 on Thursday. The firm has a market capitalization of $854.83 million, a P/E ratio of 10.25 and a beta of 0.82. Lakeland Bancorp, Inc. has a 52 week low of $10.65 and a 52 week high of $16.00. 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’s 50 day moving average is $12.09 and its two-hundred day moving average is $12.77.

Lakeland Bancorp Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 4.42%. The ex-dividend date of this dividend was Friday, April 26th. Lakeland Bancorp’s payout ratio is currently 45.31%.

Institutional Investors Weigh In On Lakeland Bancorp

Large investors have recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Lakeland Bancorp in the fourth quarter valued at approximately $220,000. Assenagon Asset Management S.A. acquired a new stake in shares of Lakeland Bancorp during the third quarter worth $2,623,000. Vanguard Group Inc. lifted its holdings in shares of Lakeland Bancorp by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock worth $45,578,000 after purchasing an additional 34,769 shares during the period. Wolverine Asset Management LLC lifted its holdings in shares of Lakeland Bancorp by 42.4% during the third quarter. Wolverine Asset Management LLC now owns 142,835 shares of the financial services provider’s stock worth $1,803,000 after purchasing an additional 42,542 shares during the period. Finally, Swiss National Bank lifted its holdings in shares of Lakeland Bancorp by 1.2% during the third quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock worth $1,714,000 after purchasing an additional 1,600 shares during the period. 59.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on LBAI shares. Keefe, Bruyette & Woods cut their price target on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a research note on Tuesday, April 23rd. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd.

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.