Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Edward B. Deutsch Sells 5,000 Shares
Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $20.00, for a total transaction of $100,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) traded down 1.03% on Thursday, hitting $19.15. 62,718 shares of the stock traded hands. The stock has a 50 day moving average of $19.24 and a 200-day moving average of $19.28. Lakeland Bancorp, Inc. has a 1-year low of $11.73 and a 1-year high of $20.88. The stock has a market cap of $906.79 million, a PE ratio of 18.45 and a beta of 0.79.
Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.26 by $0.02. Lakeland Bancorp had a return on equity of 9.35% and a net margin of 23.94%. The company had revenue of $47.53 million during the quarter, compared to the consensus estimate of $46.39 million. On average, equities research analysts expect that Lakeland Bancorp, Inc. 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 paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Thursday, July 27th. Lakeland Bancorp’s dividend payout ratio is currently 38.10%.
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp increased its position in Lakeland Bancorp by 10.2% in the fourth quarter. State Street Corp now owns 696,912 shares of the financial services provider’s stock valued at $13,589,000 after buying an additional 64,465 shares in the last quarter. Renaissance Technologies LLC increased its position in Lakeland Bancorp by 38.7% in the fourth quarter. Renaissance Technologies LLC now owns 268,600 shares of the financial services provider’s stock valued at $5,238,000 after buying an additional 74,900 shares in the last quarter. Two Sigma Investments LP purchased a new position in Lakeland Bancorp during the fourth quarter valued at about $758,000. Teachers Advisors LLC increased 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. Finally, First Manhattan Co. increased its position in Lakeland Bancorp by 62.4% in the first quarter. First Manhattan Co. now owns 88,004 shares of the financial services provider’s stock valued at $1,235,000 after buying an additional 33,804 shares in the last quarter. 52.43% of the stock is owned by institutional investors.
Several research analysts have recently issued reports on LBAI shares. ValuEngine raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Zacks Investment Research raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price on the stock in a research note on Tuesday. BidaskClub lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Sandler O’Neill lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Friday, April 28th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $22.00.
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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