StockNews.com Upgrades Lakeland Bancorp (NASDAQ:LBAI) to Hold

StockNews.com upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a sell rating to a hold rating in a research report report published on Tuesday morning.

Separately, Keefe, Bruyette & Woods cut their price objective on Lakeland Bancorp from $17.50 to $16.65 and set a market perform rating on the stock in a research note on Tuesday, January 30th.

Lakeland Bancorp Price Performance

Lakeland Bancorp stock opened at $12.85 on Tuesday. The stock has a 50-day moving average price of $11.97 and a two-hundred day moving average price of $12.72. Lakeland Bancorp has a 12 month low of $10.65 and a 12 month high of $16.00. The company has a market capitalization of $837.18 million, a PE ratio of 10.03 and a beta of 0.85. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. The company had revenue of $72.09 million for the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. Analysts expect that Lakeland Bancorp will post 1.07 EPS for the current year.

Lakeland Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th will be given a dividend of $0.145 per share. The ex-dividend date is Friday, April 26th. This represents a $0.58 dividend on an annualized basis and a yield of 4.51%. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 45.31%.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Rise Advisors LLC bought a new stake in shares of Lakeland Bancorp during the 1st quarter valued at about $29,000. Parallel Advisors LLC boosted its holdings in shares of Lakeland Bancorp by 4,563.6% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after buying an additional 2,008 shares in the last quarter. Lindbrook Capital LLC grew its position in shares of Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after buying an additional 2,178 shares during the period. Signaturefd LLC increased its stake in shares of Lakeland Bancorp by 212.5% in the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,766 shares in the last quarter. Finally, Private Wealth Management Group LLC bought a new position in Lakeland Bancorp during the fourth quarter worth $47,000. 59.62% of the stock is owned by institutional investors.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.