Lakeland Bancorp (NASDAQ:LBAI) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research report issued on Wednesday.

LBAI has been the topic of a number of other reports. Zacks Investment Research raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, August 21st. Roth Capital set a $18.00 price objective on shares of Lakeland Bancorp and gave the company a “buy” rating in a research note on Tuesday, May 8th. Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $23.50 price objective on shares of Lakeland Bancorp in a research note on Wednesday, August 1st. Finally, ValuEngine cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $21.17.

Shares of Lakeland Bancorp stock opened at $19.00 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $904.59 million, a P/E ratio of 17.25 and a beta of 0.83. Lakeland Bancorp has a fifty-two week low of $15.06 and a fifty-two week high of $21.90.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.33 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.33. Lakeland Bancorp had a net margin of 26.02% and a return on equity of 9.99%. The business had revenue of $49.20 million during the quarter, compared to analyst estimates of $49.07 million. equities analysts predict that Lakeland Bancorp will post 1.34 earnings per share for the current fiscal year.

A number of hedge funds have recently made changes to their positions in the business. California Public Employees Retirement System boosted its stake in Lakeland Bancorp by 23.2% in the second quarter. California Public Employees Retirement System now owns 130,101 shares of the financial services provider’s stock valued at $2,583,000 after acquiring an additional 24,538 shares during the last quarter. Renaissance Technologies LLC boosted its stake in Lakeland Bancorp by 10.0% in the second quarter. Renaissance Technologies LLC now owns 553,900 shares of the financial services provider’s stock valued at $10,995,000 after acquiring an additional 50,500 shares during the last quarter. Citadel Advisors LLC boosted its stake in Lakeland Bancorp by 73.1% in the second quarter. Citadel Advisors LLC now owns 59,771 shares of the financial services provider’s stock valued at $1,186,000 after acquiring an additional 25,245 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Lakeland Bancorp by 5.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,674,225 shares of the financial services provider’s stock worth $53,084,000 after purchasing an additional 135,869 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Lakeland Bancorp by 59.7% during the second quarter. Brown Advisory Inc. now owns 55,951 shares of the financial services provider’s stock worth $1,111,000 after purchasing an additional 20,912 shares in the last quarter. 54.47% of the stock is currently owned by hedge funds and other institutional investors.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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