Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Acquires $49,500.00 in Stock

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy bought 3,000 shares of the firm’s stock in a transaction on Friday, September 17th. The stock was bought at an average cost of $16.50 per share, for a total transaction of $49,500.00. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

Shares of LBAI opened at $16.27 on Tuesday. The stock has a market capitalization of $823.28 million, a PE ratio of 9.98 and a beta of 1.02. Lakeland Bancorp, Inc. has a 1 year low of $9.49 and a 1 year high of $19.35. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.93 and a current ratio of 0.93. The company’s 50-day simple moving average is $16.42 and its 200-day simple moving average is $17.42.

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

The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Monday, August 2nd were paid a dividend of $0.135 per share. The ex-dividend date of this dividend was Friday, July 30th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 3.32%. Lakeland Bancorp’s payout ratio is 47.79%.

Several hedge funds have recently added to or reduced their stakes in LBAI. Quadrant Capital Group LLC increased its stake in shares of Lakeland Bancorp by 483.1% during the second quarter. Quadrant Capital Group LLC now owns 1,720 shares of the financial services provider’s stock worth $30,000 after buying an additional 1,425 shares during the period. Berman Capital Advisors LLC increased its stake in shares of Lakeland Bancorp by 1,934.4% during the first quarter. Berman Capital Advisors LLC now owns 1,831 shares of the financial services provider’s stock worth $31,000 after buying an additional 1,741 shares during the period. Royal Bank of Canada increased its stake in shares of Lakeland Bancorp by 189.8% during the first quarter. Royal Bank of Canada now owns 7,592 shares of the financial services provider’s stock worth $132,000 after buying an additional 4,972 shares during the period. Schonfeld Strategic Advisors LLC purchased a new stake in shares of Lakeland Bancorp during the first quarter worth approximately $178,000. Finally, Cubist Systematic Strategies LLC purchased a new stake in shares of Lakeland Bancorp during the second quarter worth approximately $186,000. Hedge funds and other institutional investors own 59.37% of the company’s stock.

A number of research analysts have commented on LBAI shares. Zacks Investment Research cut shares of Lakeland Bancorp from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 14th. DA Davidson reissued a “buy” rating on shares of Lakeland Bancorp in a research report on Tuesday, June 29th.

Lakeland Bancorp Company Profile

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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