GSA Capital Partners LLP Acquires New Holdings in Lakeland Bancorp, Inc. (LBAI)

GSA Capital Partners LLP acquired a new stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 32,030 shares of the financial services provider’s stock, valued at approximately $474,000.

Other hedge funds have also recently bought and sold shares of the company. Acadian Asset Management LLC acquired a new stake in shares of Lakeland Bancorp in the fourth quarter valued at approximately $49,000. Algert Global LLC acquired a new stake in shares of Lakeland Bancorp in the fourth quarter valued at approximately $153,000. Panagora Asset Management Inc. purchased a new stake in shares of Lakeland Bancorp during the third quarter worth approximately $156,000. Hotaling Investment Management LLC purchased a new stake in shares of Lakeland Bancorp during the fourth quarter worth approximately $156,000. Finally, Citigroup Inc. raised its stake in shares of Lakeland Bancorp by 39.2% during the fourth quarter. Citigroup Inc. now owns 19,600 shares of the financial services provider’s stock worth $290,000 after purchasing an additional 5,515 shares during the last quarter. 56.47% of the stock is owned by institutional investors and hedge funds.

Lakeland Bancorp stock opened at $15.96 on Friday. The company has a market cap of $799.85 million, a PE ratio of 11.91 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. Lakeland Bancorp, Inc. has a 12 month low of $13.77 and a 12 month high of $21.20.



Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Monday, January 28th. The financial services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The business had revenue of $49.83 million for the quarter, compared to analyst estimates of $49.63 million. Lakeland Bancorp had a return on equity of 10.67% and a net margin of 26.93%. As a group, sell-side analysts anticipate that Lakeland Bancorp, Inc. will post 1.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Investors of record on Friday, February 8th were paid a dividend of $0.115 per share. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 7th. Lakeland Bancorp’s payout ratio is currently 34.33%.

In other Lakeland Bancorp news, Director James E. Hanson II purchased 1,585 shares of the firm’s stock in a transaction on Friday, February 1st. The shares were purchased at an average cost of $15.78 per share, with a total value of $25,011.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert K. Nicholson III purchased 13,000 shares of the firm’s stock in a transaction on Friday, December 21st. The stock was acquired at an average cost of $14.45 per share, for a total transaction of $187,850.00. The disclosure for this purchase can be found here. 6.07% of the stock is owned by company insiders.

Several research firms have recently commented on LBAI. Zacks Investment Research cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, January 5th. BidaskClub upgraded Lakeland Bancorp from a “strong sell” rating to a “sell” rating in a research note on Wednesday, February 20th. Three research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $19.88.

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Lakeland Bancorp Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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Want to see what other hedge funds are holding LBAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Bancorp, Inc. (NASDAQ:LBAI).

Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

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