Lakeland Bancorp (NASDAQ:LBAI) Rating Increased to Hold at StockNews.com

Lakeland Bancorp (NASDAQ:LBAI) was upgraded by investment analysts at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

Separately, Keefe, Bruyette & Woods cut 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 research report on Tuesday, January 30th.

Lakeland Bancorp Stock Down 0.1 %

Shares of NASDAQ:LBAI opened at $12.84 on Tuesday. Lakeland Bancorp has a 52-week low of $10.65 and a 52-week high of $16.00. The firm has a fifty day moving average of $11.98 and a 200 day moving average of $12.72. The firm has a market capitalization of $836.58 million, a PE ratio of 10.03 and a beta of 0.85. 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 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. The business had revenue of $72.09 million during the quarter. As a group, research analysts anticipate that Lakeland Bancorp will post 1.07 EPS for the current fiscal year.

Hedge Funds Weigh In On Lakeland Bancorp

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Lakeland Bancorp by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock worth $45,578,000 after buying an additional 34,769 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Lakeland Bancorp by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 698,704 shares of the financial services provider’s stock worth $10,334,000 after buying an additional 68,563 shares in the last quarter. American Century Companies Inc. raised its stake in Lakeland Bancorp by 12.5% in the third quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider’s stock worth $7,779,000 after buying an additional 68,593 shares in the last quarter. AQR Arbitrage LLC increased its stake in shares of Lakeland Bancorp by 2.4% during the third quarter. AQR Arbitrage LLC now owns 509,266 shares of the financial services provider’s stock valued at $6,427,000 after purchasing an additional 12,025 shares in the last quarter. Finally, Alpine Associates Management Inc. increased its stake in shares of Lakeland Bancorp by 0.7% during the fourth quarter. Alpine Associates Management Inc. now owns 508,624 shares of the financial services provider’s stock valued at $7,523,000 after purchasing an additional 3,600 shares in the last quarter. 59.62% of the stock is owned by 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 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.