Stewart E. Mcclure, Jr. Sells 15,567 Shares of Lakeland Bancorp Inc. (LBAI) Stock
Lakeland Bancorp Inc. (NASDAQ:LBAI) insider Stewart E. Mcclure, Jr. sold 15,567 shares of the stock in a transaction on Thursday, November 10th. The stock was sold at an average price of $14.44, for a total transaction of $224,787.48. Following the transaction, the insider now directly owns 141,802 shares in the company, valued at $2,047,620.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) opened at 15.85 on Monday. Lakeland Bancorp Inc. has a 12 month low of $9.72 and a 12 month high of $16.00. The firm has a market capitalization of $704.41 million, a P/E ratio of 17.40 and a beta of 0.79. The stock has a 50 day moving average price of $13.94 and a 200 day moving average price of $12.55.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Stockholders of record on Monday, November 7th will be given a dividend of $0.095 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.40%. Lakeland Bancorp’s dividend payout ratio is 41.76%.
Separately, Raymond James Financial Inc. downgraded Lakeland Bancorp from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 27th. They noted that the move was a valuation call.
Several institutional investors have recently made changes to their positions in LBAI. Great West Life Assurance Co. Can purchased a new position in shares of Lakeland Bancorp during the third quarter worth $104,000. BlackRock Inc. boosted its position in shares of Lakeland Bancorp by 172.7% in the second quarter. BlackRock Inc. now owns 9,444 shares of the financial services provider’s stock worth $108,000 after buying an additional 5,981 shares in the last quarter. Genesee Valley Trust Co. boosted its position in shares of Lakeland Bancorp by 7.6% in the second quarter. Genesee Valley Trust Co. now owns 11,412 shares of the financial services provider’s stock worth $130,000 after buying an additional 805 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Lakeland Bancorp during the second quarter worth $151,000. Finally, Verus Financial Partners Inc. boosted its position in shares of Lakeland Bancorp by 0.8% in the second quarter. Verus Financial Partners Inc. now owns 13,963 shares of the financial services provider’s stock worth $159,000 after buying an additional 116 shares in the last quarter. 41.62% of the stock is currently owned by institutional investors.
About Lakeland Bancorp
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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