Hennessy Advisors Inc. increased its stake in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 3.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 290,000 shares of the financial services provider’s stock after acquiring an additional 10,000 shares during the period. Hennessy Advisors Inc. owned about 0.57% of Lakeland Bancorp worth $5,040,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also modified their holdings of the business. California State Teachers Retirement System grew its holdings in Lakeland Bancorp by 1.2% in the third quarter. California State Teachers Retirement System now owns 75,944 shares of the financial services provider’s stock valued at $1,172,000 after purchasing an additional 907 shares during the period. Private Advisor Group LLC grew its holdings in Lakeland Bancorp by 9.0% in the second quarter. Private Advisor Group LLC now owns 17,427 shares of the financial services provider’s stock valued at $281,000 after purchasing an additional 1,432 shares during the period. HM Payson & Co. acquired a new stake in Lakeland Bancorp in the second quarter valued at approximately $48,000. A.R.T. Advisors LLC grew its holdings in Lakeland Bancorp by 21.8% in the second quarter. A.R.T. Advisors LLC now owns 17,330 shares of the financial services provider’s stock valued at $280,000 after purchasing an additional 3,100 shares during the period. Finally, Metropolitan Life Insurance Co NY grew its holdings in Lakeland Bancorp by 30.2% in the third quarter. Metropolitan Life Insurance Co NY now owns 18,832 shares of the financial services provider’s stock valued at $291,000 after purchasing an additional 4,370 shares during the period. 56.01% of the stock is currently owned by institutional investors.
Shares of Lakeland Bancorp stock opened at $16.93 on Wednesday. Lakeland Bancorp, Inc. has a one year low of $14.21 and a one year high of $17.63. The company has a market cap of $854.43 million, a price-to-earnings ratio of 12.63 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.96 and a current ratio of 0.96. The business’s 50 day moving average price is $17.06 and its 200 day moving average price is $16.11.
Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Thursday, October 24th. The financial services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. Lakeland Bancorp had a return on equity of 10.13% and a net margin of 24.68%. The company had revenue of $55.38 million for the quarter, compared to the consensus estimate of $56.27 million. On average, analysts predict that Lakeland Bancorp, Inc. will post 1.42 EPS for the current fiscal year.
Several analysts have commented on LBAI shares. Zacks Investment Research downgraded Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Thursday, December 26th. BidaskClub downgraded Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Friday, January 10th. One analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company’s stock. Lakeland Bancorp currently has a consensus rating of “Hold” and an average target price of $18.67.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.
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