Lakeland Bancorp (NASDAQ:LBAI) Upgraded at StockNews.com

StockNews.com upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a sell rating to a hold rating in a research report sent to investors on Friday.

Separately, Keefe, Bruyette & Woods decreased their price target on shares of Lakeland Bancorp from $17.50 to $16.65 and set a market perform rating for the company in a report on Tuesday, January 30th.

Lakeland Bancorp Price Performance

NASDAQ LBAI opened at $11.56 on Friday. The stock has a market capitalization of $753.18 million, a P/E ratio of 9.03 and a beta of 0.85. Lakeland Bancorp has a 1 year low of $10.65 and a 1 year high of $16.00. The business’s fifty day moving average is $12.02 and its two-hundred day moving average is $12.75. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. The business had revenue of $72.09 million for the quarter. On average, research analysts forecast that Lakeland Bancorp will post 1.07 earnings per share for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were paid a $0.145 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.58 dividend on an annualized basis and a yield of 5.02%. Lakeland Bancorp’s payout ratio is presently 45.31%.

Institutional Investors Weigh In On Lakeland Bancorp

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Legal & General Group Plc lifted its holdings in shares of Lakeland Bancorp by 2.0% during the 4th quarter. Legal & General Group Plc now owns 26,706 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 530 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Lakeland Bancorp by 26.1% during the first quarter. Great West Life Assurance Co. Can now owns 4,169 shares of the financial services provider’s stock worth $73,000 after buying an additional 863 shares during the period. Boothbay Fund Management LLC increased its position in shares of Lakeland Bancorp by 0.9% during the first quarter. Boothbay Fund Management LLC now owns 95,710 shares of the financial services provider’s stock worth $1,497,000 after buying an additional 879 shares during the period. Inspire Investing LLC grew its holdings in Lakeland Bancorp by 3.9% in the third quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 915 shares during the period. Finally, Ameritas Investment Partners Inc. grew its holdings in Lakeland Bancorp by 24.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,784 shares of the financial services provider’s stock worth $80,000 after purchasing an additional 950 shares during the period. 59.62% of the stock is currently owned by institutional investors and hedge funds.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.