Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Friday.
Separately, Keefe, Bruyette & Woods dropped their price target on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a research note on Tuesday, January 30th.
Check Out Our Latest Stock Analysis on Lakeland Bancorp
Lakeland Bancorp Price Performance
Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $72.09 million during the quarter. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. As a group, equities analysts expect that Lakeland Bancorp will post 1.07 EPS for the current year.
Hedge Funds Weigh In On Lakeland Bancorp
Hedge funds have recently bought and sold shares of the company. Assenagon Asset Management S.A. bought a new position in Lakeland Bancorp during the third quarter worth $2,623,000. Vanguard Group Inc. raised its stake in Lakeland Bancorp by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock worth $45,578,000 after buying an additional 34,769 shares during the last quarter. Wolverine Asset Management LLC raised its stake in Lakeland Bancorp by 42.4% during the third quarter. Wolverine Asset Management LLC now owns 142,835 shares of the financial services provider’s stock worth $1,803,000 after buying an additional 42,542 shares during the last quarter. Swiss National Bank raised its stake in Lakeland Bancorp by 1.2% during the third quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock worth $1,714,000 after buying an additional 1,600 shares during the last quarter. Finally, Hsbc Holdings PLC raised its stake in Lakeland Bancorp by 12.6% during the third quarter. Hsbc Holdings PLC now owns 56,058 shares of the financial services provider’s stock worth $710,000 after buying an additional 6,293 shares during the last quarter. Institutional investors own 59.62% of the company’s stock.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.
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