Lakeland Bancorp (NASDAQ:LBAI) Upgraded to “Hold” at ValuEngine
A number of other brokerages have also weighed in on LBAI. BidaskClub lowered shares of Lakeland Bancorp from a buy rating to a hold rating in a report on Friday, January 10th. Zacks Investment Research lowered shares of Lakeland Bancorp from a buy rating to a hold rating in a report on Thursday, December 26th. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Lakeland Bancorp has a consensus rating of Buy and a consensus target price of $18.67.
Shares of LBAI opened at $16.77 on Friday. Lakeland Bancorp has a 1-year low of $14.21 and a 1-year high of $17.63. The company has a 50-day moving average of $17.09 and a 200 day moving average of $16.14. The firm has a market capitalization of $851.43 million, a price-to-earnings ratio of 12.52 and a beta of 0.88. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.96 and a quick ratio of 0.96.
Large investors have recently bought and sold shares of the company. State Street Corp raised its holdings in shares of Lakeland Bancorp by 1.4% in the 3rd quarter. State Street Corp now owns 1,059,497 shares of the financial services provider’s stock valued at $16,348,000 after purchasing an additional 14,363 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in shares of Lakeland Bancorp by 36.9% in the 3rd quarter. Russell Investments Group Ltd. now owns 53,817 shares of the financial services provider’s stock valued at $832,000 after purchasing an additional 14,501 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Lakeland Bancorp in the 2nd quarter valued at about $179,000. Millennium Management LLC raised its holdings in shares of Lakeland Bancorp by 1,922.1% in the 3rd quarter. Millennium Management LLC now owns 317,575 shares of the financial services provider’s stock valued at $4,900,000 after purchasing an additional 301,870 shares in the last quarter. Finally, Systematic Financial Management LP raised its holdings in shares of Lakeland Bancorp by 1.3% in the 3rd quarter. Systematic Financial Management LP now owns 1,214,904 shares of the financial services provider’s stock valued at $18,746,000 after purchasing an additional 16,123 shares in the last quarter. Institutional investors and hedge funds own 56.03% of the company’s stock.
About Lakeland Bancorp
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking 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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