Zurcher Kantonalbank Zurich Cantonalbank Has $207,000 Holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 20.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 13,982 shares of the financial services provider’s stock after buying an additional 2,345 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lakeland Bancorp were worth $207,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in Lakeland Bancorp in the 4th quarter valued at approximately $220,000. Assenagon Asset Management S.A. acquired a new position in Lakeland Bancorp in the 3rd quarter valued at approximately $2,623,000. Vanguard Group Inc. grew its position in Lakeland Bancorp by 1.0% in the third 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 in the last quarter. Wolverine Asset Management LLC grew its position in Lakeland Bancorp by 42.4% in the third quarter. Wolverine Asset Management LLC now owns 142,835 shares of the financial services provider’s stock worth $1,803,000 after acquiring an additional 42,542 shares in the last quarter. Finally, Swiss National Bank grew its position in Lakeland Bancorp by 1.2% in the third quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock worth $1,714,000 after acquiring an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 59.62% of the company’s stock.

Lakeland Bancorp Price Performance

NASDAQ LBAI opened at $12.78 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The company has a fifty day simple moving average of $12.05 and a 200 day simple moving average of $12.77. The company has a market cap of $832.62 million, a P/E ratio of 9.98 and a beta of 0.82. Lakeland Bancorp, Inc. has a 1 year low of $10.65 and a 1 year high of $16.00.

Lakeland Bancorp Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be issued a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 4.54%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio is currently 45.31%.

Insider Buying and Selling

In related news, EVP Paul Ho-Sing-Loy sold 8,000 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.54, for a total transaction of $100,320.00. Following the completion of the sale, the executive vice president now directly owns 40,763 shares of the company’s stock, valued at approximately $511,168.02. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 5.08% of the stock is owned by insiders.

Analysts Set New Price Targets

LBAI has been the subject of several recent research reports. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods decreased 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 report on Tuesday, April 23rd.

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.