Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Brian Gragnolati Purchases 2,000 Shares

Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Brian Gragnolati acquired 2,000 shares of the company’s stock in a transaction that occurred on Monday, September 20th. The stock was acquired at an average price of $16.05 per share, with a total value of $32,100.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Brian Gragnolati also recently made the following trade(s):

  • On Thursday, September 16th, Brian Gragnolati acquired 2,000 shares of Lakeland Bancorp stock. The stock was acquired at an average price of $16.55 per share, with a total value of $33,100.00.
  • On Monday, September 13th, Brian Gragnolati acquired 2,000 shares of Lakeland Bancorp stock. The stock was acquired at an average price of $16.63 per share, with a total value of $33,260.00.

Lakeland Bancorp stock traded up $0.02 during trading on Tuesday, reaching $16.29. The stock had a trading volume of 1,190 shares, compared to its average volume of 189,922. Lakeland Bancorp, Inc. has a 52-week low of $9.49 and a 52-week high of $19.35. The business has a 50 day moving average price of $16.42 and a 200 day moving average price of $17.42. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.17. The stock has a market cap of $824.29 million, a PE ratio of 9.98 and a beta of 1.02.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Wednesday, July 21st. The financial services provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.10. The business had revenue of $65.01 million during the quarter, compared to the consensus estimate of $63.87 million. Lakeland Bancorp had a net margin of 30.21% and a return on equity of 10.88%. On average, equities analysts predict that Lakeland Bancorp, Inc. will post 1.86 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Monday, August 2nd were given a dividend of $0.135 per share. The ex-dividend date was Friday, July 30th. This represents a $0.54 annualized dividend and a dividend yield of 3.31%. Lakeland Bancorp’s dividend payout ratio is presently 47.79%.

A number of research analysts recently issued reports on the stock. DA Davidson reiterated a “buy” rating on shares of Lakeland Bancorp in a research note on Tuesday, June 29th. Zacks Investment Research downgraded shares of Lakeland Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 14th.

Several large investors have recently modified their holdings of the company. Quadrant Capital Group LLC increased its holdings in shares of Lakeland Bancorp by 483.1% in the 2nd quarter. Quadrant Capital Group LLC now owns 1,720 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 1,425 shares during the period. Berman Capital Advisors LLC increased its holdings in shares of Lakeland Bancorp by 1,934.4% in the 1st quarter. Berman Capital Advisors LLC now owns 1,831 shares of the financial services provider’s stock valued at $31,000 after acquiring an additional 1,741 shares during the period. Royal Bank of Canada increased its holdings in shares of Lakeland Bancorp by 189.8% in the 1st quarter. Royal Bank of Canada now owns 7,592 shares of the financial services provider’s stock valued at $132,000 after acquiring an additional 4,972 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in shares of Lakeland Bancorp in the 1st quarter valued at $178,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Lakeland Bancorp in the 2nd quarter valued at $186,000. Institutional investors and hedge funds own 59.37% of the company’s stock.

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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