Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Free Report) shares saw strong trading volume on Monday . 462,093 shares traded hands during mid-day trading, an increase of 52% from the previous session’s volume of 303,077 shares.The stock last traded at $12.81 and had previously closed at $11.95.
Analyst Ratings Changes
A number of research analysts have recently commented on the stock. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods reduced their target price on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a report on Tuesday.
Read Our Latest Stock Report on Lakeland Bancorp
Lakeland Bancorp Stock Up 2.0 %
Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $72.09 million during the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. As a group, research analysts forecast that Lakeland Bancorp, Inc. will post 1.07 earnings per share for the current fiscal year.
Lakeland Bancorp Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 4.51%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s payout ratio is presently 45.31%.
Hedge Funds Weigh In On Lakeland Bancorp
Hedge funds and other institutional investors have recently made changes to their positions in the company. Rise Advisors LLC acquired a new position in shares of Lakeland Bancorp in the 1st quarter valued at approximately $29,000. Parallel Advisors LLC increased its position in Lakeland Bancorp by 4,563.6% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,008 shares in the last quarter. Lindbrook Capital LLC increased its position in Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 2,178 shares in the last quarter. Signaturefd LLC increased its position in Lakeland Bancorp by 212.5% during the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,766 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in Lakeland Bancorp during the 4th quarter worth approximately $47,000. 59.62% of the stock is currently owned by institutional investors and hedge funds.
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.
See Also
- Five stocks we like better than Lakeland Bancorp
- Basic Materials Stocks Investing
- 3 Technologies to Challenge NAND Flash Dominance in AI
- What Investors Must Know About Over-the-Counter (OTC) Stocks
- Is Zoom Video Stock Getting Too Cheap to Pass Up?
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- Packaging Corporation of America: Buy The Dip
Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.