Lakeland Bancorp (NASDAQ:LBAI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business. “
A number of other analysts have also recently weighed in on LBAI. BidaskClub upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating in a research report on Thursday, June 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $23.50 price target on shares of Lakeland Bancorp in a research report on Wednesday, August 1st. ValuEngine cut Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, May 2nd. Finally, Roth Capital set a $18.00 price target on Lakeland Bancorp and gave the stock a “buy” rating in a research report on Tuesday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $21.17.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.33 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.33. The business had revenue of $49.20 million for the quarter, compared to analysts’ expectations of $49.07 million. Lakeland Bancorp had a return on equity of 9.99% and a net margin of 26.02%. research analysts expect that Lakeland Bancorp will post 1.34 EPS for the current year.
Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in Lakeland Bancorp by 200.8% in the 1st quarter. Royal Bank of Canada now owns 6,453 shares of the financial services provider’s stock valued at $128,000 after acquiring an additional 4,308 shares during the period. Strs Ohio acquired a new stake in Lakeland Bancorp in the 2nd quarter valued at approximately $168,000. Alpine Woods Capital Investors LLC acquired a new stake in Lakeland Bancorp in the 1st quarter valued at approximately $199,000. Xact Kapitalforvaltning AB increased its position in Lakeland Bancorp by 30.2% in the 1st quarter. Xact Kapitalforvaltning AB now owns 13,353 shares of the financial services provider’s stock valued at $265,000 after acquiring an additional 3,100 shares during the period. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Lakeland Bancorp in the 1st quarter valued at approximately $300,000. Hedge funds and other institutional investors own 54.47% 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 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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