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

Analysts at StockNews.com initiated coverage on shares of Lakeland Bancorp (NASDAQ:LBAIGet Free Report) in a report released on Sunday. The firm set a “sell” rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods reduced their price objective 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.

Check Out Our Latest Analysis on LBAI

Lakeland Bancorp Stock Performance

NASDAQ:LBAI opened at $13.43 on Friday. The company has a market capitalization of $874.96 million, a PE ratio of 10.49 and a beta of 0.82. The company has a 50 day simple moving average of $12.87 and a two-hundred day simple moving average of $13.04. 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 has a fifty-two week low of $10.65 and a fifty-two week high of $16.00.

Lakeland Bancorp (NASDAQ:LBAIGet Free Report) last released its earnings results on Friday, April 19th. The financial services provider reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $67.65 million during the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.34%. Research analysts anticipate that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Insider Buying and Selling at Lakeland Bancorp

In other news, 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 sale, the executive vice president now directly owns 40,763 shares in the company, valued at approximately $511,168.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.08% of the company’s stock.

Institutional Investors Weigh In On Lakeland Bancorp

Several large investors have recently added to or reduced their stakes in LBAI. Strs Ohio bought a new stake in shares of Lakeland Bancorp during the 4th quarter valued at about $220,000. Vanguard Group Inc. grew 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 purchasing an additional 34,769 shares during the period. Wolverine Asset Management LLC grew its stake in shares of Lakeland Bancorp by 42.4% in the third quarter. Wolverine Asset Management LLC now owns 142,835 shares of the financial services provider’s stock worth $1,803,000 after acquiring an additional 42,542 shares during the last quarter. Swiss National Bank grew its stake in shares of Lakeland Bancorp by 1.2% in the third quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock worth $1,714,000 after acquiring an additional 1,600 shares during the last quarter. Finally, Raymond James & Associates grew its stake in shares of Lakeland Bancorp by 67.3% in the fourth quarter. Raymond James & Associates now owns 18,576 shares of the financial services provider’s stock worth $275,000 after acquiring an additional 7,470 shares during the last quarter. Hedge funds and other institutional investors own 59.62% of the company’s stock.

About Lakeland Bancorp

(Get Free Report)

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.

Further Reading

Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.