Lake Shore Bancorp (NASDAQ:LSBK) Shares Pass Above 200 Day Moving Average - Here's What Happened

Key Points

• Lake Shore Bancorp shares rose above their 200-day moving average of $16.35, reaching $18.55 before closing at $17.73.
• Weiss Ratings upgraded the stock from “hold” to “buy,” while MarketBeat reported an average analyst rating of “Buy.”
• The company reported quarterly EPS of $0.29 on $7.64 million in revenue and declared a quarterly dividend of $0.09, equivalent to a 2.0% annualized yield.

Lake Shore Bancorp, Inc. (NASDAQ:LSBK - Get Free Report) shares passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.35 and traded as high as $18.55. Lake Shore Bancorp shares last traded at $17.73, with a volume of 32,854 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Lake Shore Bancorp from a "hold (c)" rating to a "buy (b)" rating in a report on Tuesday, September 8th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of "Buy".

Lake Shore Bancorp Price Performance

The business's 50-day moving average is $17.29 and its two-hundred day moving average is $16.35. The firm has a market cap of $139.18 million, a P/E ratio of 15.69 and a beta of 0.29.

Lake Shore Bancorp (NASDAQ:LSBK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 22nd. The savings and loans company reported $0.29 EPS for the quarter. The company had revenue of $7.64 million during the quarter. Lake Shore Bancorp had a net margin of 20.74% and a return on equity of 5.91%.

Lake Shore Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, August 3rd were paid a $0.09 dividend. This represents a $0.36 dividend on an annualized basis and a yield of 2.0%. The ex-dividend date was Monday, August 3rd. Lake Shore Bancorp's dividend payout ratio (DPR) is currently 31.86%.

Institutional Investors Weigh In On Lake Shore Bancorp

Large investors have recently made changes to their positions in the stock. Royal Bank of Canada acquired a new position in Lake Shore Bancorp during the first quarter worth $63,000. Marquette Asset Management LLC bought a new position in shares of Lake Shore Bancorp in the 2nd quarter valued at about $172,000. BlackRock Inc. acquired a new position in shares of Lake Shore Bancorp during the 2nd quarter worth about $525,000. Dimensional Fund Advisors LP increased its stake in shares of Lake Shore Bancorp by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 45,709 shares of the savings and loans company's stock worth $694,000 after purchasing an additional 650 shares during the last quarter. Finally, HBK Sorce Advisory LLC bought a new stake in shares of Lake Shore Bancorp in the 2nd quarter valued at about $1,454,000. Institutional investors and hedge funds own 8.75% of the company's stock.

Lake Shore Bancorp Company Profile

Lake Shore Bancorp, Inc is the holding company for Lake Shore Savings Bank, a community-oriented financial institution headquartered in Dunkirk, New York. The bank serves individuals, families, businesses and organizations primarily in western New York, including Chautauqua and Erie counties.

Lake Shore Savings Bank offers a range of traditional banking products and services, including checking and savings accounts, certificates of deposit, residential mortgages, home equity loans, consumer lending and commercial loans.

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