Lakeland Bancorp (NASDAQ:LBAI) Trading Up 3.8%

Lakeland Bancorp, Inc. (NASDAQ:LBAI)’s stock price rose 3.8% on Friday . The company traded as high as $11.64 and last traded at $11.60. Approximately 161,689 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 290,742 shares. The stock had previously closed at $11.17.

Analyst Upgrades and Downgrades

LBAI has been the subject of a number of recent research reports. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Friday. Keefe, Bruyette & Woods dropped their target price on Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a research report on Tuesday, January 30th.

Lakeland Bancorp Stock Up 4.2 %

The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The company has a 50-day simple moving average of $12.04 and a two-hundred day simple moving average of $12.75. The stock has a market cap of $758.35 million, a P/E ratio of 9.09 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Lakeland Bancorp had a return on equity of 7.43% and a net margin of 16.42%. The firm had revenue of $72.09 million during the quarter. On average, equities analysts forecast that Lakeland Bancorp, Inc. will post 1.07 EPS for the current year.

Lakeland Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.145 dividend. The ex-dividend date of this dividend was Friday, February 2nd. This represents a $0.58 annualized dividend and a yield of 4.98%. Lakeland Bancorp’s payout ratio is currently 45.31%.

Institutional Trading of Lakeland Bancorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC purchased a new position in shares of Lakeland Bancorp during the first quarter valued at approximately $29,000. Parallel Advisors LLC increased its stake in shares of Lakeland Bancorp by 4,563.6% during the fourth quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock valued at $30,000 after buying an additional 2,008 shares during the period. Lindbrook Capital LLC increased its stake in shares of Lakeland Bancorp by 4,356.0% during the fourth quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock valued at $33,000 after buying an additional 2,178 shares during the period. Signaturefd LLC increased its stake in shares of Lakeland Bancorp by 212.5% during the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,766 shares during the period. Finally, Private Wealth Management Group LLC purchased a new position in shares of Lakeland Bancorp during the fourth quarter valued at approximately $47,000. 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.