Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Sells $100,320.00 in Stock

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy sold 8,000 shares of Lakeland Bancorp stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.54, for a total transaction of $100,320.00. Following the completion of the transaction, the executive vice president now directly owns 40,763 shares in the company, valued at $511,168.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Lakeland Bancorp Stock Performance

Shares of NASDAQ LBAI traded up $0.07 during midday trading on Monday, reaching $13.01. 62,040 shares of the stock were exchanged, compared to its average volume of 307,877. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a 50-day simple moving average of $12.01 and a two-hundred day simple moving average of $12.75. Lakeland Bancorp, Inc. has a twelve month low of $10.65 and a twelve month high of $16.00. The firm has a market cap of $847.60 million, a price-to-earnings ratio of 10.11 and a beta of 0.82.

Lakeland Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s payout ratio is currently 45.31%.

Hedge Funds Weigh In On Lakeland Bancorp

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp grew its holdings in Lakeland Bancorp by 2.9% in the third quarter. Bank of New York Mellon Corp now owns 477,455 shares of the financial services provider’s stock valued at $6,025,000 after purchasing an additional 13,246 shares during the period. Waldron Private Wealth LLC acquired a new stake in Lakeland Bancorp in the 3rd quarter valued at $312,000. Inspire Investing LLC increased its holdings in Lakeland Bancorp by 3.9% in the 3rd quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 915 shares in the last quarter. Olympiad Research LP raised its position in Lakeland Bancorp by 9.9% during the third quarter. Olympiad Research LP now owns 46,458 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 4,192 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in Lakeland Bancorp during the third quarter valued at $2,623,000. Hedge funds and other institutional investors own 59.62% of the company’s stock.

Wall Street Analyst Weigh In

LBAI has been the topic of several recent analyst reports. StockNews.com raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods cut their price target on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a research report on Tuesday, April 23rd.

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.