Lakeland Bancorp, Inc. (NASDAQ:LBAI - Get Free Report) shot up 3.5% on Friday . The stock traded as high as $11.83 and last traded at $11.76. 75,151 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 296,046 shares. The stock had previously closed at $11.36.
Analysts Set New Price Targets
A number of analysts recently issued reports on LBAI shares. Keefe, Bruyette & Woods dropped their target price on shares of Lakeland Bancorp from $17.50 to $16.65 and set a "market perform" rating for the company in a research report on Tuesday, January 30th. StockNews.com upgraded Lakeland Bancorp from a "sell" rating to a "hold" rating in a report on Friday, April 12th.
View Our Latest Analysis on Lakeland Bancorp
Lakeland Bancorp Stock Performance
The firm has a market capitalization of $778.54 million, a price-to-earnings ratio of 9.34 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The stock's fifty day moving average is $11.97 and its two-hundred day moving average is $12.71.
Lakeland Bancorp (NASDAQ:LBAI - Get Free Report) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, meeting analysts' consensus estimates of $0.30. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. The company had revenue of $72.09 million during the quarter. Analysts forecast that Lakeland Bancorp, Inc. will post 1.07 earnings per share for the current year.
Lakeland Bancorp Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.85%. The ex-dividend date was Friday, February 2nd. Lakeland Bancorp's payout ratio is 45.31%.
Institutional Trading of Lakeland Bancorp
A number of hedge funds have recently made changes to their positions in the stock. Parallel Advisors LLC grew its stake in Lakeland Bancorp by 4,563.6% in the fourth quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider's stock worth $30,000 after purchasing an additional 2,008 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Lakeland Bancorp by 4,356.0% in the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider's stock worth $33,000 after acquiring an additional 2,178 shares in the last quarter. Rise Advisors LLC bought a new stake in shares of Lakeland Bancorp in the 1st quarter valued at approximately $29,000. Signaturefd LLC raised its position in shares of Lakeland Bancorp by 212.5% during the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider's stock valued at $38,000 after acquiring an additional 1,766 shares in the last quarter. Finally, Point72 Hong Kong Ltd bought a new position in Lakeland Bancorp during the first quarter worth $48,000. Institutional investors and hedge funds own 59.62% of the company's stock.
Lakeland Bancorp Company Profile
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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.
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