Lakeland Bancorp, Inc. (NASDAQ:LBAI - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 462,093 shares were traded during mid-day trading, an increase of 52% from the previous session's volume of 303,077 shares.The stock last traded at $12.81 and had previously closed at $11.95.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on LBAI shares. Keefe, Bruyette & Woods lowered their price objective 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 upgraded Lakeland Bancorp from a "sell" rating to a "hold" rating in a research report on Friday, April 12th.
View Our Latest Report on LBAI
Lakeland Bancorp Stock Up 5.4 %
The stock has a 50-day moving average of $11.97 and a 200-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. The company has a market cap of $820.89 million, a PE ratio of 9.84 and a beta of 0.85.
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 for the quarter, meeting analysts' consensus estimates of $0.30. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. The business had revenue of $72.09 million for the quarter. Sell-side analysts predict that Lakeland Bancorp, Inc. will post 1.07 earnings per share for the current fiscal year.
Lakeland Bancorp Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th will be given a dividend of $0.145 per share. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.58 dividend on an annualized basis and a yield of 4.60%. Lakeland Bancorp's payout ratio is 45.31%.
Institutional Investors Weigh In On Lakeland Bancorp
A number of large investors have recently added to or reduced their stakes in LBAI. Bank of New York Mellon Corp raised its position in Lakeland Bancorp by 2.9% during the third quarter. Bank of New York Mellon Corp now owns 477,455 shares of the financial services provider's stock valued at $6,025,000 after purchasing an additional 13,246 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of Lakeland Bancorp in the third quarter worth about $312,000. Inspire Investing LLC increased its holdings in shares of Lakeland Bancorp by 3.9% in the third quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider's stock worth $307,000 after buying an additional 915 shares during the period. Olympiad Research LP increased its holdings in shares of Lakeland Bancorp by 9.9% in the third quarter. Olympiad Research LP now owns 46,458 shares of the financial services provider's stock worth $586,000 after buying an additional 4,192 shares during the period. Finally, Assenagon Asset Management S.A. purchased a new position in shares of Lakeland Bancorp in the third quarter worth about $2,623,000. Hedge funds and other institutional investors own 59.62% of the company's stock.
About Lakeland Bancorp
(
Get Free Report)
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.
Featured Articles
Before you consider Lakeland Bancorp, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Lakeland Bancorp wasn't on the list.
While Lakeland Bancorp currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Looking to avoid the hassle of mudslinging, volatility, and uncertainty? You'd need to be out of the market, which isn’t viable. So where should investors put their money? Find out with this report.
Get This Free Report
