Lakeland Bancorp, Inc. (LBAI) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. lowered its stake in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 48.4% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 103,492 shares of the financial services provider’s stock after selling 97,201 shares during the period. Russell Investments Group Ltd. owned approximately 0.22% of Lakeland Bancorp worth $2,111,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Alps Advisors Inc. raised its position 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 buying an additional 60 shares during the last quarter. Legal & General Group Plc raised its position in Lakeland Bancorp by 11.9% in the second quarter. Legal & General Group Plc now owns 11,178 shares of the financial services provider’s stock worth $211,000 after purchasing an additional 1,189 shares in the last quarter. Victory Capital Management Inc. raised its position in Lakeland Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,108 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 1,366 shares in the last quarter. California Public Employees Retirement System raised its position in Lakeland Bancorp by 1.5% in the second quarter. California Public Employees Retirement System now owns 104,800 shares of the financial services provider’s stock worth $1,975,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in Lakeland Bancorp by 5.7% in the second quarter. Nationwide Fund Advisors now owns 30,396 shares of the financial services provider’s stock worth $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.

In other Lakeland Bancorp news, Director Stephen R. Sr Tilton, Sr. sold 29,501 shares of the firm’s stock in a transaction that occurred on Friday, December 22nd. The shares were sold at an average price of $19.98, for a total value of $589,429.98. Following the transaction, the director now directly owns 664,210 shares of the company’s stock, valued at $13,270,915.80. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert A. Vandenbergh sold 12,738 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $20.56, for a total transaction of $261,893.28. The disclosure for this sale can be found here. Insiders have sold 82,742 shares of company stock worth $1,662,872 over the last three months. 6.20% of the stock is owned by insiders.

Several research firms recently issued reports on LBAI. BidaskClub lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 9th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and set a $24.50 price objective on shares of Lakeland Bancorp in a report on Friday. Finally, Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Lakeland Bancorp presently has an average rating of “Hold” and an average target price of $23.25.

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

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 earnings per share 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 company had revenue of $47.57 million during the quarter, compared to analyst estimates of $47.79 million. equities research analysts forecast that Lakeland Bancorp, Inc. will post 1.12 EPS for the current year.

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

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