Lakeland Bancorp (NASDAQ:LBAI) Earns Sell Rating from Analysts at StockNews.com

StockNews.com started coverage on shares of Lakeland Bancorp (NASDAQ:LBAI) in a research report report published on Thursday morning. The brokerage issued a sell rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods decreased their price objective on shares of Lakeland Bancorp from $16.65 to $14.15 and set a market perform rating for the company in a report on Tuesday, April 23rd.

Lakeland Bancorp Price Performance

LBAI opened at $13.43 on Thursday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The company has a 50-day moving average of $12.42 and a 200-day moving average of $12.91. The company has a market capitalization of $874.96 million, a P/E ratio of 10.49 and a beta of 0.82. Lakeland Bancorp has a 1-year low of $10.65 and a 1-year high of $16.00.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.04. The business had revenue of $67.65 million during the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.34%. Equities analysts expect that Lakeland Bancorp will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th were issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 4.32%. The ex-dividend date of this dividend was Friday, April 26th. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 45.31%.

Insider Buying and Selling at Lakeland Bancorp

In other Lakeland Bancorp news, EVP Paul Ho-Sing-Loy sold 8,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.54, for a total value of $100,320.00. Following the completion of the sale, the executive vice president now directly owns 40,763 shares of the company’s stock, valued at approximately $511,168.02. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 5.08% of the company’s stock.

Hedge Funds Weigh In On Lakeland Bancorp

A number of hedge funds have recently made changes to their positions in the business. Cetera Advisors LLC acquired a new position in shares of Lakeland Bancorp in the 1st quarter valued at $3,541,000. Cetera Investment Advisers acquired a new position in shares of Lakeland Bancorp in the 1st quarter valued at $3,564,000. Bayesian Capital Management LP acquired a new position in shares of Lakeland Bancorp in the 1st quarter valued at $124,000. Black Maple Capital Management LP acquired a new position in shares of Lakeland Bancorp in the 1st quarter valued at $369,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Lakeland Bancorp by 24.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 52,986 shares of the financial services provider’s stock valued at $642,000 after buying an additional 10,433 shares in the last quarter. Institutional investors and hedge funds own 59.62% of the company’s stock.

About Lakeland Bancorp

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.