Foundry Partners LLC Has $3.30 Million Stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Foundry Partners LLC lowered its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 1.8% during the fourth quarter, HoldingsChannel reports. The fund owned 222,875 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Foundry Partners LLC’s holdings in Lakeland Bancorp were worth $3,296,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of LBAI. Assenagon Asset Management S.A. bought a new stake in Lakeland Bancorp during the 3rd quarter worth $2,623,000. Trium Capital LLP acquired a new position in Lakeland Bancorp during the 3rd quarter worth about $1,784,000. American Century Companies Inc. lifted its holdings in Lakeland Bancorp by 12.5% during the 3rd quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider’s stock worth $7,779,000 after buying an additional 68,593 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Lakeland Bancorp by 11.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,141 shares of the financial services provider’s stock worth $7,952,000 after buying an additional 66,192 shares during the period. Finally, Wolverine Asset Management LLC lifted its holdings in Lakeland Bancorp by 42.4% during the 3rd 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 period. Institutional investors own 59.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on LBAI shares. Keefe, Bruyette & Woods cut their target price on Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a report on Tuesday, January 30th. StockNews.com raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday.

Lakeland Bancorp Price Performance

Shares of NASDAQ:LBAI opened at $12.60 on Tuesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The stock’s fifty day simple moving average is $11.97 and its two-hundred day simple moving average is $12.72. Lakeland Bancorp, Inc. has a 1-year low of $10.65 and a 1-year high of $16.00. The stock has a market cap of $820.89 million, a PE ratio of 9.84 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last issued 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 7.40% and a net margin of 16.00%. The business had revenue of $72.09 million for the quarter. As a group, analysts forecast that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.145 per share. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.60%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s payout ratio is 45.31%.

Lakeland Bancorp 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.