Lakeland Bancorp, Inc. (LBAI) Director Sells $746,029.08 in Stock

Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Robert K. Nicholson III sold 37,227 shares of the stock in a transaction on Tuesday, December 19th. The shares were sold at an average price of $20.04, for a total value of $746,029.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Lakeland Bancorp, Inc. (LBAI) opened at $19.90 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95. The firm has a market cap of $939.95, a PE ratio of 18.26 and a beta of 0.78. Lakeland Bancorp, Inc. has a 1-year low of $15.06 and a 1-year high of $21.90.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Lakeland Bancorp had a net margin of 24.54% and a return on equity of 9.12%. The business had revenue of $47.57 million during the quarter, compared to analyst estimates of $47.79 million. research analysts predict that Lakeland Bancorp, Inc. will post 1.12 EPS for the current year.

A number of research analysts recently commented on the company. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $24.50 target price on shares of Lakeland Bancorp in a research note on Friday. BidaskClub lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Finally, Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Four 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 $23.25.

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Alps Advisors Inc. increased its stake in shares of Lakeland Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 23,473 shares of the financial services provider’s stock valued at $442,000 after purchasing an additional 60 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Lakeland Bancorp by 11.9% during the second quarter. Legal & General Group Plc now owns 11,178 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 1,189 shares in the last quarter. Victory Capital Management Inc. increased its stake in shares of Lakeland Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 9,108 shares of the financial services provider’s stock valued at $172,000 after purchasing an additional 1,366 shares in the last quarter. California Public Employees Retirement System increased its stake in shares of Lakeland Bancorp by 1.5% during the second quarter. California Public Employees Retirement System now owns 104,800 shares of the financial services provider’s stock valued at $1,975,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Nationwide Fund Advisors increased its stake in shares of Lakeland Bancorp by 5.7% during the second quarter. Nationwide Fund Advisors now owns 30,396 shares of the financial services provider’s stock valued at $573,000 after purchasing an additional 1,639 shares in the last quarter. 52.97% of the stock is owned by institutional investors and hedge funds.

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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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