Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) had its price objective lowered by investment analysts at Keefe, Bruyette & Woods from $16.65 to $14.15 in a research report issued on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 10.20% from the stock’s current price.
Separately, StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday.
Read Our Latest Stock Report on Lakeland Bancorp
Lakeland Bancorp Trading Down 0.1 %
Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.30. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. The company had revenue of $72.09 million during the quarter. On average, sell-side analysts predict that Lakeland Bancorp will post 1.07 EPS for the current fiscal year.
Institutional Investors Weigh In On Lakeland Bancorp
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Rise Advisors LLC bought a new stake in shares of Lakeland Bancorp in the 1st quarter valued at $29,000. Parallel Advisors LLC raised its stake in 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 acquiring an additional 2,008 shares during the period. Lindbrook Capital LLC boosted its holdings in Lakeland Bancorp by 4,356.0% in 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 raised its stake in Lakeland Bancorp by 212.5% during the 4th 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 period. Finally, Private Wealth Management Group LLC purchased a new position in shares of Lakeland Bancorp in the fourth quarter worth $47,000. 59.62% of the stock is owned by institutional investors and hedge funds.
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.
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