Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 2,870 shares of the company’s stock in a transaction on Friday, March 9th. The stock was sold at an average price of $20.50, for a total value of $58,835.00. Following the completion of the sale, the director now directly owns 11,905 shares in the company, valued at $244,052.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of Lakeland Bancorp, Inc. (LBAI) opened at $20.85 on Wednesday. Lakeland Bancorp, Inc. has a 12 month low of $15.06 and a 12 month high of $21.90. The company has a market capitalization of $987.52, a price-to-earnings ratio of 18.62 and a beta of 0.88. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.51.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Friday, January 26th. The financial services provider reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. Lakeland Bancorp had a return on equity of 9.31% and a net margin of 24.38%. The firm had revenue of $48.16 million for the quarter, compared to analysts’ expectations of $48.21 million. equities research analysts anticipate that Lakeland Bancorp, Inc. will post 1.36 EPS for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Lakeland Bancorp by 6.7% in the second quarter. State Street Corp now owns 820,868 shares of the financial services provider’s stock worth $15,476,000 after acquiring an additional 51,809 shares during the last quarter. Parametric Portfolio Associates LLC boosted its position in shares of Lakeland Bancorp by 18.1% during the second quarter. Parametric Portfolio Associates LLC now owns 56,973 shares of the financial services provider’s stock valued at $1,074,000 after buying an additional 8,712 shares during the last quarter. Prudential Financial Inc. boosted its position in shares of Lakeland Bancorp by 8.6% during the third quarter. Prudential Financial Inc. now owns 120,246 shares of the financial services provider’s stock valued at $2,453,000 after buying an additional 9,530 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of Lakeland Bancorp during the third quarter valued at $579,000. Finally, California Public Employees Retirement System boosted its position in shares of Lakeland Bancorp by 6.9% during the third quarter. California Public Employees Retirement System now owns 112,063 shares of the financial services provider’s stock valued at $2,286,000 after buying an additional 7,263 shares during the last quarter. 53.68% of the stock is currently owned by hedge funds and other institutional investors.
LBAI has been the topic of several recent research reports. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $24.50 price target on shares of Lakeland Bancorp in a research note on Friday, December 22nd. ValuEngine raised Lakeland Bancorp from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. BidaskClub cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, January 3rd. Zacks Investment Research cut Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, February 14th. Finally, FIG Partners reissued a “market-perform” rating on shares of Lakeland Bancorp in a research note on Monday, January 29th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $23.75.
Lakeland Bancorp Company Profile
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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