Insider Selling: Lakeland Bancorp, Inc. (LBAI) Director Sells 1,808 Shares of Stock
Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Stephen R. Sr Tilton, Sr. sold 1,808 shares of the company’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $20.18, for a total transaction of $36,485.44. Following the sale, the director now directly owns 693,805 shares of the company’s stock, valued at $14,000,984.90. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Lakeland Bancorp, Inc. (LBAI) traded down 1.01% during mid-day trading on Monday, hitting $19.60. 91,218 shares of the company traded hands. The company’s 50-day moving average is $19.41 and its 200-day moving average is $19.26. The stock has a market capitalization of $928.06 million, a price-to-earnings ratio of 19.44 and a beta of 0.88. Lakeland Bancorp, Inc. has a one year low of $10.78 and a one year high of $20.88.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Thursday, April 27th. The financial services provider reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.02. Lakeland Bancorp had a net margin of 23.44% and a return on equity of 8.85%. The business had revenue of $47.42 million during the quarter, compared to analysts’ expectations of $44.54 million. Analysts predict that Lakeland Bancorp, Inc. will post $1.07 EPS for the current year.
Institutional investors have recently added to or reduced their stakes in the stock. Teachers Advisors LLC boosted its position in Lakeland Bancorp by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 78,265 shares of the financial services provider’s stock valued at $1,526,000 after buying an additional 2,115 shares in the last quarter. Tudor Investment Corp Et Al bought a new position in Lakeland Bancorp during the fourth quarter worth approximately $574,000. Two Sigma Investments LP bought a new position in Lakeland Bancorp during the fourth quarter worth approximately $758,000. GSA Capital Partners LLP boosted its position in Lakeland Bancorp by 80.3% in the fourth quarter. GSA Capital Partners LLP now owns 18,414 shares of the financial services provider’s stock worth $359,000 after buying an additional 8,203 shares during the period. Finally, Menta Capital LLC boosted its position in Lakeland Bancorp by 27.4% in the fourth quarter. Menta Capital LLC now owns 65,541 shares of the financial services provider’s stock worth $1,278,000 after buying an additional 14,111 shares during the period. 53.87% of the stock is owned by institutional investors and hedge funds.
Several research firms recently issued reports on LBAI. Sandler O’Neill downgraded shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Zacks Investment Research downgraded shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. Finally, ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $21.00.
About Lakeland Bancorp
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.
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