StockNews.com Initiates Coverage on Lakeland Bancorp (NASDAQ:LBAI)

StockNews.com initiated coverage on shares of Lakeland Bancorp (NASDAQ:LBAI) in a research note published on Thursday morning. The brokerage issued a sell rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods reduced their price target on shares of Lakeland Bancorp from $16.65 to $14.15 and set a market perform rating for the company in a research report on Tuesday, April 23rd.

Lakeland Bancorp Stock Performance

Shares of LBAI stock opened at $13.43 on Thursday. The company has a market cap of $874.96 million, a price-to-earnings ratio of 10.49 and a beta of 0.82. Lakeland Bancorp has a 52 week low of $10.65 and a 52 week high of $16.00. 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 moving average of $12.42 and a 200-day moving average of $12.91.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.34%. The business had revenue of $67.65 million during the quarter. On average, equities analysts forecast that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Lakeland Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th were paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 4.32%. The ex-dividend date was Friday, April 26th. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 45.31%.

Insider Buying and Selling at Lakeland Bancorp

In other Lakeland Bancorp news, EVP Paul Ho-Sing-Loy sold 8,000 shares of the firm’s 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 transaction, the executive vice president now directly owns 40,763 shares in the company, valued at approximately $511,168.02. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 5.08% of the company’s stock.

Hedge Funds Weigh In On Lakeland Bancorp

Several large investors have recently bought and sold shares of LBAI. Rise Advisors LLC bought a new stake in shares of Lakeland Bancorp during the 1st quarter worth $29,000. Parallel Advisors LLC raised its stake in shares of Lakeland Bancorp by 4,563.6% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 2,008 shares during the period. Lindbrook Capital LLC raised its stake in shares of Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 2,178 shares during the period. Signaturefd LLC raised its stake in shares of Lakeland Bancorp by 212.5% during the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,766 shares during the period. Finally, Private Wealth Management Group LLC purchased a new stake in Lakeland Bancorp in the 4th quarter worth about $47,000. 59.62% of the stock is currently 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.