85,173 Shares in Lake Shore Bancorp, Inc. $LSBK Acquired by HBK Sorce Advisory LLC

Key Points

• HBK Sorce Advisory LLC acquired 85,173 shares of Lake Shore Bancorp in the second quarter, worth approximately $1.45 million and representing about 1.08% of the company. Institutional investors collectively own 8.75% of the stock.
• Lake Shore Bancorp reported quarterly earnings of $0.29 per share on $7.64 million in revenue, with a 20.74% net margin and 5.91% return on equity.
• The company paid a quarterly dividend of $0.09 per share, equivalent to an annualized $0.36 dividend and a 2.1% yield. The stock was rated “Hold,” while Weiss Ratings downgraded it from “hold (c+)” to “hold (c).”

HBK Sorce Advisory LLC purchased a new position in shares of Lake Shore Bancorp, Inc. (NASDAQ:LSBK - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 85,173 shares of the savings and loans company's stock, valued at approximately $1,454,000. HBK Sorce Advisory LLC owned about 1.08% of Lake Shore Bancorp as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Royal Bank of Canada acquired a new position in shares of Lake Shore Bancorp in the 1st quarter valued at $63,000. Bank of America Corp DE increased its holdings in shares of Lake Shore Bancorp by 35.0% during the 3rd quarter. Bank of America Corp DE now owns 6,102 shares of the savings and loans company's stock worth $79,000 after buying an additional 1,581 shares during the last quarter. Marquette Asset Management LLC acquired a new stake in shares of Lake Shore Bancorp during the 2nd quarter worth $172,000. Bridgeway Capital Management LLC acquired a new stake in shares of Lake Shore Bancorp during the 3rd quarter worth $145,000. Finally, Citadel Advisors LLC purchased a new position in shares of Lake Shore Bancorp in the 3rd quarter worth $185,000. Institutional investors and hedge funds own 8.75% of the company's stock.

Lake Shore Bancorp Stock Performance

LSBK opened at $17.16 on Monday. Lake Shore Bancorp, Inc. has a 1 year low of $12.50 and a 1 year high of $17.96. The firm has a 50 day moving average price of $16.94 and a 200 day moving average price of $16.04. The company has a market cap of $134.71 million, a PE ratio of 15.19 and a beta of 0.29.

Lake Shore Bancorp (NASDAQ:LSBK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 22nd. The savings and loans company reported $0.29 earnings per share for the quarter. Lake Shore Bancorp had a net margin of 20.74% and a return on equity of 5.91%. The firm had revenue of $7.64 million for the quarter.

Lake Shore Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Stockholders of record on Monday, August 3rd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Monday, August 3rd. Lake Shore Bancorp's dividend payout ratio (DPR) is currently 31.86%.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Lake Shore Bancorp from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, July 16th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock has an average rating of "Hold".

Lake Shore Bancorp Profile

Lake Shore Bancorp, Inc operates as a savings and loan holding company for Lake Shore Servings Bank. It offers personal services such as checking, savings, lending, banking, debit card, e-services, and online banking; and business services including deposit products, commercial loans, and business e-statements. The company was founded in 2006 and is headquartered in Dunkirk, NY.

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