Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy Acquires 2,900 Shares

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy acquired 2,900 shares of the stock in a transaction dated Tuesday, March 24th. The stock was acquired at an average price of $9.88 per share, with a total value of $28,652.00. Following the completion of the acquisition, the executive vice president now owns 18,528 shares in the company, valued at approximately $183,056.64. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

NASDAQ:LBAI traded up $0.63 during midday trading on Thursday, reaching $10.60. 7,523 shares of the stock traded hands, compared to its average volume of 242,422. The company has a fifty day moving average of $14.10 and a 200 day moving average of $15.84. Lakeland Bancorp, Inc. has a 12 month low of $8.31 and a 12 month high of $17.63. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market capitalization of $514.23 million, a P/E ratio of 7.71 and a beta of 0.93.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Friday, January 24th. The financial services provider reported $0.37 EPS for the quarter, beating the Zacks’ consensus estimate of $0.35 by $0.02. Lakeland Bancorp had a net margin of 24.95% and a return on equity of 10.06%. The company had revenue of $57.53 million during the quarter, compared to analyst estimates of $55.56 million. On average, analysts predict that Lakeland Bancorp, Inc. will post 1.34 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC raised its holdings in Lakeland Bancorp by 130.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,840 shares of the financial services provider’s stock worth $32,000 after purchasing an additional 1,040 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in Lakeland Bancorp in the 4th quarter worth $59,000. Eaton Vance Management bought a new position in Lakeland Bancorp in the 4th quarter worth $182,000. Victory Capital Management Inc. raised its holdings in Lakeland Bancorp by 28.5% in the 4th quarter. Victory Capital Management Inc. now owns 10,974 shares of the financial services provider’s stock worth $191,000 after purchasing an additional 2,436 shares in the last quarter. Finally, Hotaling Investment Management LLC raised its holdings in Lakeland Bancorp by 29.9% in the 4th quarter. Hotaling Investment Management LLC now owns 13,465 shares of the financial services provider’s stock worth $234,000 after purchasing an additional 3,102 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

A number of equities research analysts recently commented on the stock. ValuEngine lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday. BidaskClub lowered shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a report on Wednesday, March 11th. Finally, Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, March 11th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Lakeland Bancorp has an average rating of “Hold” and a consensus price target of $18.33.

About Lakeland Bancorp

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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