Lakeland Bancorp, Inc. (NASDAQ:LBAI) Shares Bought by Lindbrook Capital LLC

Lindbrook Capital LLC lifted its stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 4,356.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,228 shares of the financial services provider’s stock after acquiring an additional 2,178 shares during the period. Lindbrook Capital LLC’s holdings in Lakeland Bancorp were worth $33,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Lakeland Bancorp by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock worth $45,578,000 after acquiring an additional 34,769 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Lakeland Bancorp by 11.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 630,141 shares of the financial services provider’s stock worth $7,952,000 after acquiring an additional 66,192 shares during the period. American Century Companies Inc. lifted its stake in shares of Lakeland Bancorp by 12.5% in the 3rd quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider’s stock worth $7,779,000 after acquiring an additional 68,593 shares during the period. AQR Arbitrage LLC lifted its stake in shares of Lakeland Bancorp by 2.4% in the 3rd quarter. AQR Arbitrage LLC now owns 509,266 shares of the financial services provider’s stock worth $6,427,000 after acquiring an additional 12,025 shares during the period. Finally, Alpine Associates Management Inc. lifted its stake in shares of Lakeland Bancorp by 7.1% in the 3rd quarter. Alpine Associates Management Inc. now owns 505,024 shares of the financial services provider’s stock worth $6,373,000 after acquiring an additional 33,515 shares during the period. 59.62% of the stock is owned by institutional investors and hedge funds.

Lakeland Bancorp Stock Up 0.7 %

LBAI stock opened at $12.52 on Friday. Lakeland Bancorp, Inc. has a 12 month low of $10.65 and a 12 month high of $16.00. The firm has a market cap of $815.68 million, a PE ratio of 9.84 and a beta of 0.85. The firm has a 50 day simple moving average of $11.98 and a 200 day simple moving average of $12.72. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93.

Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.30 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 business had revenue of $72.09 million during the quarter. Equities research analysts forecast that Lakeland Bancorp, Inc. will post 1.07 earnings per share for the current fiscal year.

Lakeland Bancorp Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be paid a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a yield of 4.63%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio is presently 45.31%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LBAI. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday. Keefe, Bruyette & Woods cut their target price on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a research note on Tuesday.

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.