Parametric Portfolio Associates LLC Boosts Holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Parametric Portfolio Associates LLC raised its holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 59.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 139,501 shares of the financial services provider’s stock after purchasing an additional 52,267 shares during the quarter. Parametric Portfolio Associates LLC’s holdings in Lakeland Bancorp were worth $1,508,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. First Republic Investment Management Inc. boosted its holdings in Lakeland Bancorp by 4.3% in the fourth quarter. First Republic Investment Management Inc. now owns 18,021 shares of the financial services provider’s stock valued at $313,000 after purchasing an additional 739 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Lakeland Bancorp by 1.0% during the 4th quarter. Thrivent Financial for Lutherans now owns 113,169 shares of the financial services provider’s stock worth $1,967,000 after acquiring an additional 1,149 shares in the last quarter. Swiss National Bank lifted its stake in Lakeland Bancorp by 1.4% in the 1st quarter. Swiss National Bank now owns 93,085 shares of the financial services provider’s stock valued at $1,006,000 after buying an additional 1,300 shares in the last quarter. Rhumbline Advisers lifted its stake in Lakeland Bancorp by 1.8% in the 4th quarter. Rhumbline Advisers now owns 76,722 shares of the financial services provider’s stock valued at $1,333,000 after buying an additional 1,332 shares in the last quarter. Finally, Private Advisor Group LLC lifted its stake in Lakeland Bancorp by 6.6% in the 1st quarter. Private Advisor Group LLC now owns 35,428 shares of the financial services provider’s stock valued at $383,000 after buying an additional 2,183 shares in the last quarter. 57.65% of the stock is currently owned by institutional investors.

Lakeland Bancorp stock opened at $11.43 on Wednesday. Lakeland Bancorp, Inc. has a fifty-two week low of $8.31 and a fifty-two week high of $17.63. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a 50 day moving average price of $10.86 and a 200 day moving average price of $13.36. The company has a market capitalization of $529.86 million, a PE ratio of 8.66 and a beta of 1.01.

Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Thursday, April 30th. The financial services provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.29 by ($0.05). Lakeland Bancorp had a net margin of 23.58% and a return on equity of 9.42%. The company had revenue of $57.91 million during the quarter, compared to analyst estimates of $55.73 million. As a group, equities research analysts forecast that Lakeland Bancorp, Inc. will post 1.12 earnings per share for the current year.

A number of brokerages recently weighed in on LBAI. Zacks Investment Research raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, May 21st. Raymond James upgraded shares of Lakeland Bancorp from a “market perform” rating to an “outperform” rating in a report on Wednesday, June 17th. BidaskClub downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. ValuEngine downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Thursday, April 2nd. Finally, Piper Sandler upgraded shares of Lakeland Bancorp from a “neutral” rating to an “overweight” rating in a report on Friday, May 1st. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $18.00.

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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Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

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