StockNews.com upgraded shares of Lakeland Bancorp (NASDAQ:LBAI – Free Report) from a sell rating to a hold rating in a research note published on Wednesday morning.
Separately, Keefe, Bruyette & Woods decreased their target price on shares of Lakeland Bancorp from $17.50 to $16.65 and set a market perform rating for the company in a research report on Tuesday, January 30th.
Read Our Latest Stock Report on LBAI
Lakeland Bancorp Stock Up 3.0 %
Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) last posted its earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. The business had revenue of $72.09 million for the quarter. Analysts forecast that Lakeland Bancorp will post 1.07 earnings per share for the current year.
Lakeland Bancorp Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.92%. The ex-dividend date of this dividend was Friday, February 2nd. Lakeland Bancorp’s dividend payout ratio is currently 45.31%.
Institutional Trading of Lakeland Bancorp
Institutional investors have recently made changes to their positions in the stock. Parallel Advisors LLC lifted its stake in shares of Lakeland Bancorp by 4,563.6% in the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 2,008 shares during the period. Lindbrook Capital LLC lifted its stake in Lakeland Bancorp by 4,356.0% during the fourth quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock valued at $33,000 after purchasing an additional 2,178 shares during the last quarter. Signaturefd LLC lifted its stake in Lakeland Bancorp by 212.5% during the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock valued at $38,000 after purchasing an additional 1,766 shares during the last quarter. Point72 Hong Kong Ltd acquired a new stake in Lakeland Bancorp during the first quarter valued at approximately $48,000. Finally, Private Wealth Management Group LLC acquired a new stake in Lakeland Bancorp during the fourth quarter valued at approximately $47,000. 59.62% of the stock is owned by institutional investors and hedge funds.
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.
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