Lakeland Bancorp (NASDAQ:LBAI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday.

According to Zacks, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business. “

Other analysts also recently issued research reports about the stock. Keefe, Bruyette & Woods reissued a “buy” rating and set a $24.50 price objective on shares of Lakeland Bancorp in a report on Friday, December 22nd. BidaskClub downgraded shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Saturday, December 9th. Finally, FIG Partners reaffirmed a “market-perform” rating on shares of Lakeland Bancorp in a report on Monday, January 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $23.75.

Shares of Lakeland Bancorp (NASDAQ LBAI) opened at $19.45 on Wednesday. The company has a market cap of $932.87, a PE ratio of 17.68 and a beta of 0.86. Lakeland Bancorp has a fifty-two week low of $15.06 and a fifty-two week high of $21.90. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Friday, January 26th. The financial services provider reported $0.29 EPS for the quarter, hitting analysts’ consensus estimates of $0.29. The firm had revenue of $48.16 million for the quarter, compared to the consensus estimate of $48.21 million. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.37%. analysts forecast that Lakeland Bancorp will post 1.36 EPS for the current year.

In other Lakeland Bancorp news, Director Mark J. Fredericks sold 5,200 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $19.75, for a total value of $102,700.00. Following the sale, the director now owns 204,869 shares of the company’s stock, valued at $4,046,162.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Edward B. Deutsch sold 3,276 shares of the business’s stock in a transaction that occurred 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. Insiders sold 75,204 shares of company stock worth $1,503,679 in the last ninety days. Insiders own 6.20% of the company’s stock.

Several large investors have recently bought and sold shares of LBAI. Schwab Charles Investment Management Inc. raised its position in shares of Lakeland Bancorp by 15.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 185,976 shares of the financial services provider’s stock valued at $3,506,000 after buying an additional 25,119 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Lakeland Bancorp by 3.2% in the second quarter. Wells Fargo & Company MN now owns 89,861 shares of the financial services provider’s stock valued at $1,694,000 after buying an additional 2,746 shares during the last quarter. Alliancebernstein L.P. raised its position in shares of Lakeland Bancorp by 23.4% in the second quarter. Alliancebernstein L.P. now owns 51,745 shares of the financial services provider’s stock valued at $975,000 after buying an additional 9,800 shares during the last quarter. Nationwide Fund Advisors raised its position in shares of Lakeland Bancorp by 5.7% in the second quarter. Nationwide Fund Advisors now owns 30,396 shares of the financial services provider’s stock valued at $573,000 after buying an additional 1,639 shares during the last quarter. Finally, New York State Common Retirement Fund raised its position in shares of Lakeland Bancorp by 12.5% in the second quarter. New York State Common Retirement Fund now owns 48,700 shares of the financial services provider’s stock valued at $918,000 after buying an additional 5,399 shares during the last quarter. 52.48% of the stock is owned by institutional investors and hedge funds.

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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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