Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) have been given an average recommendation of "Hold" by the six brokerages that are presently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and three have issued a buy recommendation on the company.
LBAI has been the topic of a number of research analyst reports. BidaskClub upgraded Lakeland Bancorp from a "sell" rating to a "hold" rating in a report on Wednesday, October 7th. DA Davidson reissued a "buy" rating on shares of Lakeland Bancorp in a report on Monday, September 14th. Finally, Zacks Investment Research downgraded Lakeland Bancorp from a "hold" rating to a "sell" rating in a research note on Saturday, September 26th.
Shares of Lakeland Bancorp stock opened at $10.53 on Tuesday. The business's fifty day moving average price is $10.46 and its two-hundred day moving average price is $10.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $531.43 million, a P/E ratio of 8.70 and a beta of 1.00. Lakeland Bancorp has a 1-year low of $8.31 and a 1-year high of $17.63.
Lakeland Bancorp (NASDAQ:LBAI) last announced its earnings results on Friday, July 24th. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.03). Lakeland Bancorp had a net margin of 21.99% and a return on equity of 8.47%. The business had revenue of $56.00 million for the quarter, compared to the consensus estimate of $56.53 million. On average, research analysts expect that Lakeland Bancorp will post 1.07 earnings per share for the current fiscal year.
In other Lakeland Bancorp news, Director Robert E. Mccracken bought 3,500 shares of the stock in a transaction dated Thursday, July 30th. The shares were bought at an average cost of $10.29 per share, with a total value of $36,015.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have bought 8,681 shares of company stock worth $87,826 over the last ninety days. Insiders own 4.31% of the company's stock.
Several institutional investors and hedge funds have recently made changes to their positions in LBAI. Meeder Asset Management Inc. increased its holdings in shares of Lakeland Bancorp by 366.2% during the first quarter. Meeder Asset Management Inc. now owns 2,331 shares of the financial services provider's stock worth $25,000 after purchasing an additional 1,831 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Lakeland Bancorp by 324.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,521 shares of the financial services provider's stock valued at $120,000 after purchasing an additional 8,045 shares in the last quarter. Cannell Peter B & Co. Inc. bought a new stake in Lakeland Bancorp in the 2nd quarter worth about $135,000. Trexquant Investment LP purchased a new position in Lakeland Bancorp in the second quarter valued at about $148,000. Finally, BNP Paribas Arbitrage SA boosted its stake in Lakeland Bancorp by 166.8% in the first quarter. BNP Paribas Arbitrage SA now owns 15,128 shares of the financial services provider's stock valued at $164,000 after acquiring an additional 9,457 shares during the last quarter. 58.12% of the stock is currently owned by institutional investors.
About Lakeland Bancorp
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.
Recommended Story: What does the Producer Price Index (PPI) tell investors?
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
20 High-Yield Dividend Stocks that Could Ruin Your Retirement Portfolio
Almost everyone loves a company that pays strong dividends. Who doesn't like receiving a check every quarter for simply owning a stock--especially if that stock is paying you back 4%, 5% or even 10% of its share price in annual income each year?. In a world where 10-year treasuries are yielding just above 2%, it seems hard to go wrong when buying a stock that's yielding significantly above the going rates on fixed-income assets. Unfortunately, the market rarely offers a free lunch.
While high-yield stocks may have a lot of near-term attractiveness, those same high-yields can often signal significant danger ahead. In some cases, it might mean that the company's dividend will stop growing or won't grow as fast as it used to. Worse yet, the company could cut its dividend, reduce the income you receive from owning the stock and drive down the value of the shares that you own.
4%-plus yields might seem like an easy opportunity to boost the investment income you receive, but high-yield stocks can just as often be a track reading to snare unsuspecting investors. It's not always easy to tell the difference though.
This slideshow highlights 10 high-yield dividend stocks that are paying an unsustainably large percentage of their earnings in the form of a dividend. These companies are all paying out more than 100% of their earnings per share in the form of a dividend, a sign that the advertised high-yield probably won't last.
View the "20 High-Yield Dividend Stocks that Could Ruin Your Retirement Portfolio".