ProShare Advisors LLC Reduces Holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

ProShare Advisors LLC trimmed its stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 0.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 492,987 shares of the financial services provider’s stock after selling 2,921 shares during the period. ProShare Advisors LLC owned 0.76% of Lakeland Bancorp worth $7,710,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of LBAI. Point72 Hong Kong Ltd bought a new position in shares of Lakeland Bancorp in the 1st quarter worth about $48,000. Advisor Group Holdings Inc. increased its stake in shares of Lakeland Bancorp by 335.6% in the 1st quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock worth $54,000 after acquiring an additional 2,463 shares in the last quarter. Dark Forest Capital Management LP bought a new position in shares of Lakeland Bancorp in the 4th quarter worth about $72,000. Great West Life Assurance Co. Can increased its stake in shares of Lakeland Bancorp by 26.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,169 shares of the financial services provider’s stock worth $73,000 after acquiring an additional 863 shares in the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Lakeland Bancorp by 24.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,784 shares of the financial services provider’s stock worth $80,000 after acquiring an additional 950 shares in the last quarter. 59.84% of the stock is owned by hedge funds and other institutional investors.

Lakeland Bancorp Stock Down 1.3 %

NASDAQ:LBAI opened at $13.16 on Monday. The firm has a market cap of $855.79 million, a P/E ratio of 8.28 and a beta of 0.84. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.88 and a current ratio of 0.88. Lakeland Bancorp, Inc. has a fifty-two week low of $11.89 and a fifty-two week high of $20.02. The firm has a 50-day simple moving average of $14.13 and a two-hundred day simple moving average of $14.46.

Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Thursday, July 27th. The financial services provider reported $0.34 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). Lakeland Bancorp had a return on equity of 9.66% and a net margin of 22.43%. The company had revenue of $78.21 million during the quarter, compared to the consensus estimate of $93.30 million. Analysts predict that Lakeland Bancorp, Inc. will post 1.3 earnings per share for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 16th. Stockholders of record on Monday, August 7th were paid a $0.145 dividend. The ex-dividend date was Friday, August 4th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.41%. Lakeland Bancorp’s dividend payout ratio is presently 36.48%.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of Lakeland Bancorp in a research note on Thursday, August 17th. They set a “sell” rating for the company.

Insider Transactions at Lakeland Bancorp

In other news, EVP Paul Ho-Sing-Loy sold 2,000 shares of Lakeland Bancorp stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $14.16, for a total value of $28,320.00. Following the completion of the sale, the executive vice president now directly owns 38,449 shares in the company, valued at $544,437.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.72% of the company’s stock.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that offers various banking products and services for individuals and small to medium sized businesses. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits.