Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy acquired 2,900 shares of the company’s stock in a transaction on Tuesday, March 24th. The shares were purchased at an average cost of $9.88 per share, with a total value of $28,652.00. Following the completion of the purchase, the executive vice president now directly owns 18,528 shares of the company’s stock, valued at $183,056.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

NASDAQ LBAI traded up $0.63 on Thursday, hitting $10.60. 7,523 shares of the stock were exchanged, compared to its average volume of 242,422. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a fifty day moving average price of $14.10 and a two-hundred day moving average price of $15.84. The firm has a market capitalization of $514.23 million, a P/E ratio of 7.71 and a beta of 0.93. Lakeland Bancorp, Inc. has a 52-week low of $8.31 and a 52-week high of $17.63.

Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Friday, January 24th. The financial services provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. Lakeland Bancorp had a return on equity of 10.06% and a net margin of 24.95%. The business had revenue of $57.53 million during the quarter, compared to the consensus estimate of $55.56 million. Sell-side analysts expect that Lakeland Bancorp, Inc. will post 1.34 earnings per share for the current fiscal year.

Several large investors have recently added to or reduced their stakes in LBAI. California Public Employees Retirement System grew its stake in Lakeland Bancorp by 25.9% in the third quarter. California Public Employees Retirement System now owns 122,919 shares of the financial services provider’s stock valued at $1,897,000 after purchasing an additional 25,263 shares during the last quarter. Russell Investments Group Ltd. grew its stake in shares of Lakeland Bancorp by 36.9% during the third quarter. Russell Investments Group Ltd. now owns 53,817 shares of the financial services provider’s stock worth $832,000 after acquiring an additional 14,501 shares during the last quarter. State Street Corp grew its stake in shares of Lakeland Bancorp by 1.4% during the third quarter. State Street Corp now owns 1,059,497 shares of the financial services provider’s stock worth $16,348,000 after acquiring an additional 14,363 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Lakeland Bancorp by 1.2% during the third quarter. California State Teachers Retirement System now owns 75,944 shares of the financial services provider’s stock worth $1,172,000 after acquiring an additional 907 shares during the last quarter. Finally, Squarepoint Ops LLC grew its stake in shares of Lakeland Bancorp by 268.0% during the third quarter. Squarepoint Ops LLC now owns 61,227 shares of the financial services provider’s stock worth $945,000 after acquiring an additional 44,590 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

LBAI has been the subject of several recent analyst reports. Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, March 11th. BidaskClub lowered shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a research note on Wednesday, March 11th. Finally, ValuEngine lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Lakeland Bancorp currently has an average rating of “Hold” and an average price target of $18.33.

Lakeland Bancorp Company Profile

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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