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.
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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