Lakeland Bancorp Inc. (LBAI) Director Edward B. Deutsch Sells 55,604 Shares of Stock
Lakeland Bancorp Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 55,604 shares of Lakeland Bancorp stock in a transaction dated Monday, November 14th. The shares were sold at an average price of $15.49, for a total value of $861,305.96. Following the transaction, the director now directly owns 60,620 shares in the company, valued at $939,003.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Lakeland Bancorp Inc. (NASDAQ:LBAI) opened at 16.55 on Tuesday. The company has a 50-day moving average price of $14.02 and a 200-day moving average price of $12.60. Lakeland Bancorp Inc. has a 12-month low of $9.72 and a 12-month high of $16.60. The stock has a market capitalization of $735.52 million, a PE ratio of 18.17 and a beta of 0.79.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 15th. Shareholders of record on Monday, November 7th will be paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Thursday, November 3rd. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 41.76%.
Separately, Raymond James Financial Inc. cut 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.
A number of large investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its stake in Lakeland Bancorp by 5.0% in the second quarter. Dimensional Fund Advisors LP now owns 1,846,766 shares of the financial services provider’s stock worth $21,016,000 after buying an additional 88,346 shares during the period. Banc Funds Co. LLC boosted its stake in Lakeland Bancorp by 0.3% in the second quarter. Banc Funds Co. LLC now owns 1,609,554 shares of the financial services provider’s stock worth $18,317,000 after buying an additional 4,492 shares during the period. Vanguard Group Inc. boosted its stake in Lakeland Bancorp by 4.8% in the second quarter. Vanguard Group Inc. now owns 1,189,613 shares of the financial services provider’s stock worth $13,539,000 after buying an additional 54,772 shares during the period. Northern Trust Corp boosted its stake in Lakeland Bancorp by 1.8% in the third quarter. Northern Trust Corp now owns 1,130,021 shares of the financial services provider’s stock worth $15,866,000 after buying an additional 20,009 shares during the period. Finally, BlackRock Fund Advisors raised its position in shares of Lakeland Bancorp by 8.7% in the third quarter. BlackRock Fund Advisors now owns 1,086,822 shares of the financial services provider’s stock worth $15,259,000 after buying an additional 87,086 shares in the last quarter. Institutional investors own 41.62% of the company’s stock.
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.
Receive News & Stock Ratings for Lakeland Bancorp Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp Inc. and related stocks with our FREE daily email newsletter.