Lakeland Bancorp (LBAI) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a sell rating to a hold rating in a research note issued to investors on Wednesday.

LBAI has been the topic of a number of other reports. Zacks Investment Research upgraded shares of Lakeland Bancorp from a hold rating to a strong-buy rating and set a $23.00 target price on the stock in a research note on Tuesday, January 2nd. FIG Partners reiterated a market-perform rating on shares of Lakeland Bancorp in a research note on Monday, January 29th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $24.50 target price on shares of Lakeland Bancorp in a research note on Friday, December 22nd. Two research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. Lakeland Bancorp currently has an average rating of Buy and a consensus price target of $23.75.

Lakeland Bancorp (NASDAQ:LBAI) opened at $20.40 on Wednesday. Lakeland Bancorp has a 12 month low of $15.06 and a 12 month high of $21.90. The company has a quick ratio of 0.95, a current ratio of 0.95 and a debt-to-equity ratio of 0.52. The stock has a market cap of $975.49, a price-to-earnings ratio of 18.39 and a beta of 0.86.

Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Friday, January 26th. The financial services provider reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.37%. The business had revenue of $48.16 million for the quarter, compared to analyst estimates of $48.21 million. equities analysts anticipate that Lakeland Bancorp will post 1.36 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 15th. Investors of record on Monday, February 5th will be paid a $0.10 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.40 dividend on an annualized basis and a yield of 1.96%. Lakeland Bancorp’s payout ratio is presently 36.36%.

In other Lakeland Bancorp news, Director Stephen R. Sr Tilton, Sr. sold 29,501 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 664,210 shares of the company’s stock, valued at approximately $13,270,915.80. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Edward B. Deutsch sold 3,276 shares of the stock in a transaction on Monday, November 20th. The shares were sold at an average price of $20.00, for a total transaction of $65,520.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,004 shares of company stock valued at $1,400,979. Insiders own 6.20% of the company’s stock.

A number of institutional investors have recently modified their holdings of LBAI. Palouse Capital Management Inc. bought a new stake in Lakeland Bancorp in the 3rd quarter valued at $206,000. Legal & General Group Plc boosted its holdings in Lakeland Bancorp by 11.9% in the 2nd 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 during the period. Voya Investment Management LLC boosted its holdings in Lakeland Bancorp by 20.9% in the 2nd quarter. Voya Investment Management LLC now owns 18,191 shares of the financial services provider’s stock valued at $343,000 after purchasing an additional 3,150 shares during the period. Dynamic Technology Lab Private Ltd bought a new stake in Lakeland Bancorp in the 2nd quarter valued at $443,000. Finally, Brown Advisory Inc. boosted its holdings in Lakeland Bancorp by 46.0% in the 3rd quarter. Brown Advisory Inc. now owns 23,838 shares of the financial services provider’s stock valued at $486,000 after purchasing an additional 7,514 shares during the period. 52.97% of the stock is owned by hedge funds and other institutional investors.

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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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