Insider Selling: Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Sells 8,000 Shares of Stock

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

Lakeland Bancorp Stock Down 0.1 %

Shares of LBAI stock traded down $0.01 on Monday, hitting $12.93. 144,077 shares of the stock were exchanged, compared to its average volume of 308,894. The firm has a market capitalization of $842.39 million, a P/E ratio of 10.16 and a beta of 0.82. The business has a 50-day moving average of $12.01 and a 200 day moving average of $12.75. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. Lakeland Bancorp, Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $16.00.

Lakeland Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 4.49%. The ex-dividend date of this dividend is Friday, April 26th. Lakeland Bancorp's payout ratio is 45.31%.

Institutional Investors Weigh In On Lakeland Bancorp

Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBAI. Inspire Investing LLC grew its holdings in Lakeland Bancorp by 3.9% during 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 during the last quarter. Lindbrook Capital LLC raised its holdings in shares of Lakeland Bancorp by 44.5% during the first quarter. Lindbrook Capital LLC now owns 3,220 shares of the financial services provider's stock valued at $39,000 after purchasing an additional 992 shares during the period. Gateway Advisory LLC boosted its position in shares of Lakeland Bancorp by 1.4% during the 3rd quarter. Gateway Advisory LLC now owns 94,326 shares of the financial services provider's stock worth $1,190,000 after purchasing an additional 1,319 shares in the last quarter. Swiss National Bank grew its stake in shares of Lakeland Bancorp by 1.2% in the 3rd quarter. Swiss National Bank now owns 135,785 shares of the financial services provider's stock valued at $1,714,000 after buying an additional 1,600 shares during the period. Finally, Signaturefd LLC increased its position in Lakeland Bancorp by 212.5% in the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider's stock valued at $38,000 after buying an additional 1,766 shares in the last quarter. 59.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LBAI has been the subject of a number of research analyst reports. StockNews.com raised Lakeland Bancorp from a "sell" rating to a "hold" rating in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on shares of Lakeland Bancorp from $16.65 to $14.15 and set a "market perform" rating on the stock in a 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.