Lakeland Bancorp, Inc. (NASDAQ:LBAI) has been given a consensus rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have given a hold recommendation and two have issued a buy recommendation on the company. The average 1-year price objective among analysts that have updated their coverage on the stock in the last year is $22.00.

A number of research analysts have recently commented on the stock. 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 report on Wednesday, May 3rd. Sandler O’Neill downgraded shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, April 28th. BidaskClub downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Finally, ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.

Lakeland Bancorp (NASDAQ LBAI) traded up 1.02% during midday trading on Tuesday, reaching $19.80. 9,490 shares of the company’s stock were exchanged. Lakeland Bancorp has a 52 week low of $11.66 and a 52 week high of $20.88. The company has a market cap of $937.57 million, a price-to-earnings ratio of 19.08 and a beta of 0.79. The firm has a 50-day moving average price of $19.18 and a 200 day moving average price of $19.27.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.02. Lakeland Bancorp had a net margin of 23.94% and a return on equity of 9.35%. The firm had revenue of $47.53 million for the quarter, compared to analyst estimates of $46.39 million. Analysts anticipate that Lakeland Bancorp will post $1.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, August 15th. Stockholders of record on Monday, July 31st will be given a $0.10 dividend. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Thursday, July 27th. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 38.10%.

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In other news, Director Stephen R. Sr Tilton, Sr. sold 1,808 shares of Lakeland Bancorp stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $20.18, for a total value of $36,485.44. Following the completion of the transaction, the director now owns 693,805 shares of the company’s stock, valued at approximately $14,000,984.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Timothy J. Matteson sold 2,650 shares of Lakeland Bancorp stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $19.58, for a total transaction of $51,887.00. The disclosure for this sale can be found here. In the last three months, insiders sold 30,029 shares of company stock valued at $603,568. Insiders own 6.20% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. increased its position in shares of Lakeland Bancorp by 72.1% in the first quarter. Goldman Sachs Group Inc. now owns 36,495 shares of the financial services provider’s stock worth $716,000 after buying an additional 15,291 shares during the period. Metropolitan Life Insurance Co. NY increased its position in shares of Lakeland Bancorp by 10.0% in the first quarter. Metropolitan Life Insurance Co. NY now owns 28,319 shares of the financial services provider’s stock worth $555,000 after buying an additional 2,581 shares during the period. State Street Corp increased its position in shares of Lakeland Bancorp by 10.4% in the first quarter. State Street Corp now owns 769,059 shares of the financial services provider’s stock worth $15,078,000 after buying an additional 72,147 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Lakeland Bancorp by 16.3% in the first quarter. Schwab Charles Investment Management Inc. now owns 160,857 shares of the financial services provider’s stock worth $3,153,000 after buying an additional 22,500 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of Lakeland Bancorp by 48.5% in the first quarter. Renaissance Technologies LLC now owns 398,900 shares of the financial services provider’s stock worth $7,818,000 after buying an additional 130,300 shares during the period. 52.43% of the stock is owned by institutional investors.

Lakeland Bancorp Company Profile

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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