Keefe, Bruyette & Woods Cuts Lakeland Bancorp (NASDAQ:LBAI) Price Target to $14.15

Lakeland Bancorp (NASDAQ:LBAI - Free Report) had its price target cut by Keefe, Bruyette & Woods from $16.65 to $14.15 in a research report sent to investors on Tuesday, Benzinga reports. They currently have a market perform rating on the financial services provider's stock.

Separately, StockNews.com raised shares of Lakeland Bancorp from a sell rating to a hold rating in a research note on Tuesday.

Lakeland Bancorp Price Performance

Lakeland Bancorp stock traded up $0.25 during mid-day trading on Tuesday, reaching $12.85. 422,538 shares of the company's stock traded hands, compared to its average volume of 310,131. Lakeland Bancorp has a 12-month low of $10.65 and a 12-month high of $16.00. The company has a market cap of $837.18 million, a price-to-earnings ratio of 10.03 and a beta of 0.85. The stock has a 50 day moving average of $11.97 and a two-hundred day moving average of $12.72. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

Lakeland Bancorp (NASDAQ:LBAI - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $72.09 million for the quarter. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. Equities analysts forecast that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Lakeland Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 4.51%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp's dividend payout ratio (DPR) is presently 45.31%.

Hedge Funds Weigh In On Lakeland Bancorp

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. lifted its position in shares of Lakeland Bancorp by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider's stock valued at $45,578,000 after buying an additional 34,769 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of Lakeland Bancorp by 10.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 698,704 shares of the financial services provider's stock valued at $10,334,000 after purchasing an additional 68,563 shares during the last quarter. American Century Companies Inc. increased its stake in Lakeland Bancorp by 12.5% during the 3rd quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider's stock valued at $7,779,000 after purchasing an additional 68,593 shares in the last quarter. AQR Arbitrage LLC increased its stake in Lakeland Bancorp by 2.4% during the 3rd quarter. AQR Arbitrage LLC now owns 509,266 shares of the financial services provider's stock valued at $6,427,000 after purchasing an additional 12,025 shares in the last quarter. Finally, Alpine Associates Management Inc. lifted its stake in shares of Lakeland Bancorp by 0.7% during the fourth quarter. Alpine Associates Management Inc. now owns 508,624 shares of the financial services provider's stock worth $7,523,000 after buying an additional 3,600 shares during the period. Institutional investors own 59.62% of the company's stock.

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.