Swiss National Bank Purchases 3,700 Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Swiss National Bank boosted its position in Lakeland Bancorp, Inc. (NASDAQ:LBAI – Get Rating) by 2.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 148,685 shares of the financial services provider’s stock after purchasing an additional 3,700 shares during the period. Swiss National Bank owned about 0.23% of Lakeland Bancorp worth $2,618,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Lakeland Bancorp by 14.4% during the 3rd quarter. BlackRock Inc. now owns 6,155,805 shares of the financial services provider’s stock valued at $98,555,000 after acquiring an additional 773,060 shares during the period. Vanguard Group Inc. grew its position in shares of Lakeland Bancorp by 26.4% during the 1st quarter. Vanguard Group Inc. now owns 3,600,914 shares of the financial services provider’s stock valued at $60,135,000 after acquiring an additional 751,881 shares during the period. Versor Investments LP grew its position in shares of Lakeland Bancorp by 45.6% during the 4th quarter. Versor Investments LP now owns 1,521,735 shares of the financial services provider’s stock valued at $26,798,000 after acquiring an additional 476,248 shares during the period. Alpine Associates Management Inc. bought a new position in shares of Lakeland Bancorp during the 3rd quarter valued at approximately $7,250,000. Finally, State Street Corp grew its position in shares of Lakeland Bancorp by 30.0% during the 1st quarter. State Street Corp now owns 1,742,685 shares of the financial services provider’s stock valued at $29,103,000 after acquiring an additional 402,583 shares during the period. 57.71% of the stock is owned by institutional investors.

Lakeland Bancorp Stock Up 0.7 %

LBAI opened at $13.57 on Wednesday. The company has a 50 day moving average of $14.49 and a 200 day moving average of $17.08. The company has a market cap of $882.32 million, a PE ratio of 8.03 and a beta of 0.81. Lakeland Bancorp, Inc. has a 12 month low of $11.89 and a 12 month high of $20.02. The company has a current ratio of 0.88, a quick ratio of 0.88 and a debt-to-equity ratio of 0.19.

Lakeland Bancorp Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 17th. Investors of record on Monday, May 8th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 4.27%. The ex-dividend date of this dividend was Friday, May 5th. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 34.32%.

Insiders Place Their Bets

In other news, Director Brian Gragnolati bought 4,355 shares of the stock in a transaction on Wednesday, March 15th. The shares were acquired at an average cost of $17.15 per share, for a total transaction of $74,688.25. Following the purchase, the director now directly owns 28,203 shares of the company’s stock, valued at approximately $483,681.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director James E. Hanson II acquired 1,400 shares of the stock in a transaction dated Wednesday, March 1st. The shares were purchased at an average price of $19.07 per share, for a total transaction of $26,698.00. Following the transaction, the director now owns 31,199 shares in the company, valued at approximately $594,964.93. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Brian Gragnolati acquired 4,355 shares of the stock in a transaction dated Wednesday, March 15th. The shares were bought at an average price of $17.15 per share, for a total transaction of $74,688.25. Following the transaction, the director now owns 28,203 shares in the company, valued at approximately $483,681.45. The disclosure for this purchase can be found here. Corporate insiders own 4.72% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on LBAI. Keefe, Bruyette & Woods reduced their target price on shares of Lakeland Bancorp from $22.50 to $20.80 and set a “market perform” rating for the company in a research report on Thursday, April 6th. StockNews.com initiated coverage on shares of Lakeland Bancorp in a research report on Sunday. They set a “hold” rating for the company. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $18.60.

About Lakeland Bancorp

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Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of lending, depository, and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, consumer installment loans, mortgage loans, and safe deposit services.