Lakeland Bancorp, Inc. (NASDAQ:LBAI) Position Lessened by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI - Free Report) by 58.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,840 shares of the financial services provider's stock after selling 122,027 shares during the period. Assenagon Asset Management S.A. owned about 0.13% of Lakeland Bancorp worth $1,270,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of LBAI. BlackRock Inc. raised its position in Lakeland Bancorp by 14.4% in the 3rd quarter. BlackRock Inc. now owns 6,155,805 shares of the financial services provider's stock valued at $98,555,000 after purchasing an additional 773,060 shares in the last quarter. Vanguard Group Inc. raised its position in Lakeland Bancorp by 26.4% in the 1st quarter. Vanguard Group Inc. now owns 3,600,914 shares of the financial services provider's stock valued at $60,135,000 after purchasing an additional 751,881 shares in the last quarter. State Street Corp raised its position in Lakeland Bancorp by 30.0% in the 1st quarter. State Street Corp now owns 1,742,685 shares of the financial services provider's stock valued at $29,103,000 after purchasing an additional 402,583 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Lakeland Bancorp by 12.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,486,344 shares of the financial services provider's stock valued at $58,223,000 after purchasing an additional 387,300 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in Lakeland Bancorp in the 4th quarter valued at about $5,144,000. Institutional investors and hedge funds own 59.62% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their target price on Lakeland Bancorp from $17.50 to $16.65 and set a "market perform" rating on the stock in a research report on Tuesday, January 30th. StockNews.com lowered Lakeland Bancorp from a "hold" rating to a "sell" rating in a research report on Thursday.

Lakeland Bancorp Stock Up 0.3 %

Shares of NASDAQ LBAI traded up $0.04 during midday trading on Friday, hitting $11.90. 664,409 shares of the company's stock were exchanged, compared to its average volume of 398,905. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. Lakeland Bancorp, Inc. has a twelve month low of $10.65 and a twelve month high of $16.00. The company has a market cap of $775.29 million, a PE ratio of 9.30 and a beta of 0.85. The firm's fifty day simple moving average is $12.24 and its 200-day simple moving average is $12.78.

Lakeland Bancorp (NASDAQ:LBAI - Get Free Report) last released its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.30. The firm had revenue of $72.09 million for the quarter. Lakeland Bancorp had a return on equity of 7.43% and a net margin of 16.42%. Research analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were paid a dividend of $0.145 per share. The ex-dividend date was Friday, February 2nd. This represents a $0.58 dividend on an annualized basis and a yield of 4.87%. Lakeland Bancorp's dividend payout ratio is presently 45.31%.

About Lakeland Bancorp

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.