Lakeland Bancorp (LBAI) – Investment Analysts’ Weekly Ratings Updates

Several analysts have recently updated their ratings and price targets for Lakeland Bancorp (NASDAQ: LBAI):

  • 5/14/2019 – Lakeland Bancorp was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business. “
  • 5/9/2019 – Lakeland Bancorp was upgraded by analysts at BidaskClub from a “sell” rating to a “hold” rating.
  • 5/6/2019 – Lakeland Bancorp had its “outperform” rating reaffirmed by analysts at FIG Partners.
  • 5/1/2019 – Lakeland Bancorp was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $18.00 price target on the stock. According to Zacks, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business. “
  • 4/30/2019 – Lakeland Bancorp was upgraded by analysts at BidaskClub from a “strong sell” rating to a “sell” rating.
  • 4/30/2019 – Lakeland Bancorp was upgraded by analysts at ValuEngine from a “strong sell” rating to a “sell” rating.
  • 4/30/2019 – Lakeland Bancorp was upgraded by analysts at Boenning Scattergood from a “neutral” rating to an “outperform” rating. They now have a $19.00 price target on the stock. They wrote, “We note the company also recently increased the common dividend by 9% (2.9% dividend yield). As such, we believe the risk/reward profile is attractive today with shares trading at a discount to peers on a P/E basis (11.0x 2019E vs. 12.0x). We are upgrading our rating to Outperform and establishing a $19.00 price target.””
  • 4/16/2019 – Lakeland Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business. “
  • 4/2/2019 – Lakeland Bancorp was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “sell” rating. According to Zacks, “LAKELAND BANCORP INC. is a bank holding company engaged in general banking business. “
  • 3/21/2019 – Lakeland Bancorp was downgraded by analysts at ValuEngine from a “sell” rating to a “strong sell” rating.

Shares of LBAI stock traded up $0.12 on Thursday, hitting $16.19. The company’s stock had a trading volume of 3,333 shares, compared to its average volume of 120,756. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Lakeland Bancorp, Inc. has a fifty-two week low of $13.77 and a fifty-two week high of $21.15. The firm has a market cap of $821.68 million, a PE ratio of 12.08 and a beta of 0.90.

Lakeland Bancorp (NASDAQ:LBAI) last announced its earnings results on Monday, April 29th. The financial services provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $54.33 million for the quarter, compared to the consensus estimate of $53.67 million. Lakeland Bancorp had a net margin of 25.63% and a return on equity of 10.34%. As a group, analysts forecast that Lakeland Bancorp, Inc. will post 1.38 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 17th. Investors of record on Thursday, May 9th will be paid a $0.125 dividend. This is a positive change from Lakeland Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date is Wednesday, May 8th. This represents a $0.50 dividend on an annualized basis and a yield of 3.09%. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 37.31%.

A number of hedge funds have recently made changes to their positions in the stock. Acadian Asset Management LLC bought a new position in Lakeland Bancorp in the fourth quarter worth $49,000. Legal & General Group Plc raised its holdings in Lakeland Bancorp by 12.4% in the fourth quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock worth $120,000 after purchasing an additional 897 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in Lakeland Bancorp by 55,011.8% in the first quarter. BNP Paribas Arbitrage SA now owns 9,369 shares of the financial services provider’s stock worth $140,000 after purchasing an additional 9,352 shares in the last quarter. Verus Financial Partners Inc. bought a new position in Lakeland Bancorp in the first quarter worth $150,000. Finally, Algert Global LLC bought a new position in Lakeland Bancorp in the fourth quarter worth $153,000. 53.41% of the stock is owned by institutional investors.

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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