Lakeland Bancorp Inc. (LBAI) Director Edward B. Deutsch Sells 990 Shares
Lakeland Bancorp Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 990 shares of Lakeland Bancorp stock in a transaction dated Wednesday, November 16th. The shares were sold at an average price of $16.65, for a total value of $16,483.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
Edward B. Deutsch also recently made the following trade(s):
- On Tuesday, November 15th, Edward B. Deutsch sold 10,000 shares of Lakeland Bancorp stock. The shares were sold at an average price of $16.50, for a total value of $165,000.00.
Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) traded up 0.91% during trading on Friday, reaching $16.55. 78,776 shares of the company’s stock were exchanged. Lakeland Bancorp Inc. has a 12-month low of $9.72 and a 12-month high of $16.65. The stock has a 50-day moving average price of $14.24 and a 200 day moving average price of $12.69. The company has a market capitalization of $735.52 million, a P/E ratio of 18.17 and a beta of 0.79.
The business also recently announced a quarterly dividend, which was paid on Tuesday, November 15th. Shareholders of record on Monday, November 7th were paid a $0.095 dividend. This represents a $0.38 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend was Thursday, November 3rd. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 41.76%.
Separately, Raymond James Financial Inc. downgraded shares of Lakeland Bancorp from an “outperform” rating to a “market perform” rating in a report on Thursday, October 27th. They noted that the move was a valuation call.
Institutional investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company acquired a new position in Lakeland Bancorp during the third quarter worth $399,000. Brown Brothers Harriman & Co. acquired a new position in Lakeland Bancorp during the third quarter worth $702,000. Northern Trust Corp boosted its position 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 in the last quarter. Emerald Acquisition Ltd. boosted its position in Lakeland Bancorp by 49.1% in the third quarter. Emerald Acquisition Ltd. now owns 151,010 shares of the financial services provider’s stock worth $2,120,000 after buying an additional 49,750 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in Lakeland Bancorp by 0.7% in the third quarter. California State Teachers Retirement System now owns 82,007 shares of the financial services provider’s stock worth $1,151,000 after buying an additional 600 shares in the last quarter. Institutional investors and hedge funds own 41.62% of the company’s stock.
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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