Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Thomas J. Marino bought 5,000 shares of Lakeland Bancorp stock in a transaction on Saturday, July 28th. The shares were purchased at an average cost of $19.08 per share, for a total transaction of $95,400.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Lakeland Bancorp, Inc. (LBAI) traded up $0.15 on Monday, hitting $20.85. 104,353 shares of the company’s stock were exchanged, compared to its average volume of 116,649. Lakeland Bancorp, Inc. has a 1-year low of $15.06 and a 1-year high of $21.90. The firm has a market capitalization of $984.94, a PE ratio of 18.83 and a beta of 0.88. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Friday, January 26th. The financial services provider reported $0.29 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.29. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.31%. The business had revenue of $48.16 million during the quarter, compared to analysts’ expectations of $48.21 million. equities analysts forecast that Lakeland Bancorp, Inc. will post 1.36 earnings per share for the current year.
LBAI has been the subject of a number of recent analyst reports. 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 research report on Tuesday, January 2nd. BidaskClub upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. FIG Partners reiterated a “market-perform” rating on shares of Lakeland Bancorp in a research report on Monday, January 29th. ValuEngine upgraded shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and set a $24.50 price target on shares of Lakeland Bancorp in a research report on Friday, December 22nd. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $23.75.
Institutional investors and hedge funds have recently made changes to their positions in the business. Xact Kapitalforvaltning AB acquired a new stake in shares of Lakeland Bancorp during the fourth quarter valued at about $197,000. Teacher Retirement System of Texas acquired a new position in shares of Lakeland Bancorp in the fourth quarter valued at approximately $296,000. Stone Ridge Asset Management LLC acquired a new position in shares of Lakeland Bancorp in the fourth quarter valued at approximately $318,000. Voya Investment Management LLC grew its holdings in shares of Lakeland Bancorp by 20.9% in the second quarter. Voya Investment Management LLC now owns 18,191 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 3,150 shares in the last quarter. Finally, MetLife Investment Advisors LLC acquired a new position in shares of Lakeland Bancorp in the fourth quarter valued at approximately $383,000. Institutional investors and hedge funds own 53.68% of the company’s stock.
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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.
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