Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Brian Gragnolati bought 2,000 shares of the firm’s stock in a transaction on Monday, September 13th. The stock was acquired at an average cost of $16.63 per share, with a total value of $33,260.00. Following the transaction, the director now owns 13,658 shares in the company, valued at approximately $227,132.54. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Lakeland Bancorp stock traded down $0.33 during midday trading on Tuesday, hitting $16.27. The stock had a trading volume of 6,570 shares, compared to its average volume of 155,131. The firm’s fifty day moving average is $16.49 and its two-hundred day moving average is $17.41. The company has a market capitalization of $823.26 million, a PE ratio of 10.18 and a beta of 1.02. Lakeland Bancorp, Inc. has a 52-week low of $9.49 and a 52-week high of $19.35. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.17.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Wednesday, July 21st. The financial services provider reported $0.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.10. Lakeland Bancorp had a return on equity of 10.88% and a net margin of 30.21%. As a group, equities research analysts predict that Lakeland Bancorp, Inc. will post 1.86 earnings per share for the current fiscal year.
A number of hedge funds have recently bought and sold shares of LBAI. Victory Capital Management Inc. bought a new position in shares of Lakeland Bancorp during the 1st quarter valued at approximately $304,000. Alliancebernstein L.P. increased its stake in Lakeland Bancorp by 16.0% in the first quarter. Alliancebernstein L.P. now owns 46,538 shares of the financial services provider’s stock worth $811,000 after purchasing an additional 6,413 shares during the period. Kistler Tiffany Companies LLC increased its stake in shares of Lakeland Bancorp by 14.6% during the first quarter. Kistler Tiffany Companies LLC now owns 5,326 shares of the financial services provider’s stock valued at $93,000 after buying an additional 677 shares during the period. IndexIQ Advisors LLC increased its stake in shares of Lakeland Bancorp by 17.8% during the first quarter. IndexIQ Advisors LLC now owns 22,817 shares of the financial services provider’s stock valued at $398,000 after buying an additional 3,442 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its position in Lakeland Bancorp by 132.3% during the first quarter. BNP Paribas Arbitrage SA now owns 21,763 shares of the financial services provider’s stock valued at $379,000 after purchasing an additional 12,393 shares in the last quarter. Institutional investors and hedge funds own 59.37% of the company’s stock.
Several research firms have recently commented on LBAI. Zacks Investment Research lowered shares of Lakeland Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. DA Davidson reaffirmed a “buy” rating on shares of Lakeland Bancorp in a research report on Tuesday, June 29th.
About Lakeland Bancorp
Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of lending, depository, and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, consumer installment loans, mortgage loans, and safe deposit services.
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