Lakeland Bancorp, Inc. (LBAI) Director Mark J. Fredericks Sells 5,200 Shares

Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Mark J. Fredericks sold 5,200 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $19.75, for a total transaction of $102,700.00. Following the sale, the director now owns 204,869 shares of the company’s stock, valued at $4,046,162.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Lakeland Bancorp, Inc. (NASDAQ:LBAI) traded down $0.20 during midday trading on Monday, hitting $19.50. 71,250 shares of the company traded hands, compared to its average volume of 128,457. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. Lakeland Bancorp, Inc. has a twelve month low of $15.06 and a twelve month high of $21.90. The company has a market capitalization of $932.87, a PE ratio of 17.91 and a beta of 0.86.

Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Friday, January 26th. The financial services provider reported $0.29 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.29. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.37%. The business had revenue of $48.16 million during the quarter, compared to analysts’ expectations of $48.21 million. sell-side analysts predict that Lakeland Bancorp, Inc. will post 1.36 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be paid a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Friday, February 2nd. Lakeland Bancorp’s payout ratio is presently 36.36%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBAI. Schwab Charles Investment Management Inc. lifted its stake in shares of Lakeland Bancorp by 15.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 185,976 shares of the financial services provider’s stock valued at $3,506,000 after buying an additional 25,119 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Lakeland Bancorp by 3.2% in the second quarter. Wells Fargo & Company MN now owns 89,861 shares of the financial services provider’s stock valued at $1,694,000 after buying an additional 2,746 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Lakeland Bancorp by 23.4% in the second quarter. Alliancebernstein L.P. now owns 51,745 shares of the financial services provider’s stock valued at $975,000 after buying an additional 9,800 shares during the period. Nationwide Fund Advisors lifted its stake in shares of Lakeland Bancorp by 5.7% in the second quarter. Nationwide Fund Advisors now owns 30,396 shares of the financial services provider’s stock valued at $573,000 after buying an additional 1,639 shares during the period. Finally, New York State Common Retirement Fund lifted its stake in shares of Lakeland Bancorp by 12.5% in the second quarter. New York State Common Retirement Fund now owns 48,700 shares of the financial services provider’s stock valued at $918,000 after buying an additional 5,399 shares during the period. Institutional investors and hedge funds own 52.48% of the company’s stock.

A number of equities research analysts have issued reports on the stock. BidaskClub upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. FIG Partners restated a “market-perform” rating on shares of Lakeland Bancorp in a report on Monday, January 29th. Zacks Investment Research upgraded shares of Lakeland Bancorp from a “hold” rating to a “strong-buy” rating and set a $23.00 price target for the company in a report on Tuesday, January 2nd. Finally, Keefe, Bruyette & Woods restated a “buy” rating and set a $24.50 price target on shares of Lakeland Bancorp in a report on Friday, December 22nd. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average target price of $23.75.

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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.

Insider Buying and Selling by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

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