Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI - Get Free Report) dropped 7% on Wednesday . The company traded as low as $11.19 and last traded at $11.21. Approximately 96,234 shares traded hands during trading, a decline of 66% from the average daily volume of 284,989 shares. The stock had previously closed at $12.05.
Analyst Ratings Changes
LBAI has been the subject of several research analyst reports. Keefe, Bruyette & Woods decreased their price objective 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 downgraded shares of Lakeland Bancorp from a "hold" rating to a "sell" rating in a research note on Thursday, April 4th.
Get Our Latest Stock Analysis on LBAI
Lakeland Bancorp Stock Down 7.6 %
The firm has a market capitalization of $725.16 million, a price-to-earnings ratio of 8.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day moving average price of $12.10 and a two-hundred day moving average price of $12.77.
Lakeland Bancorp (NASDAQ:LBAI - Get Free Report) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, hitting the consensus estimate 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 for the quarter. On average, equities analysts expect that Lakeland Bancorp, Inc. will post 1.07 earnings per share for the current year.
Lakeland Bancorp Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Shareholders of record on Monday, February 5th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 5.21%. The ex-dividend date was Friday, February 2nd. Lakeland Bancorp's payout ratio is 45.31%.
Institutional Trading of Lakeland Bancorp
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rise Advisors LLC acquired a new stake in Lakeland Bancorp during the first quarter valued at $29,000. Parallel Advisors LLC boosted its stake in shares of Lakeland Bancorp by 4,563.6% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider's stock worth $30,000 after acquiring an additional 2,008 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider's stock valued at $33,000 after acquiring an additional 2,178 shares during the period. Signaturefd LLC increased its stake in shares of 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 purchasing an additional 1,766 shares in the last quarter. Finally, Private Wealth Management Group LLC acquired a new position in Lakeland Bancorp in the 4th quarter worth about $47,000. 59.62% of the stock is owned by institutional investors and hedge funds.
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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