Lakeland Bancorp (NASDAQ:LBAI) Upgraded to “Hold” at StockNews.com

Lakeland Bancorp (NASDAQ:LBAI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Friday.

Separately, Keefe, Bruyette & Woods decreased their target price on Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a research report on Tuesday, January 30th.

Lakeland Bancorp Trading Up 0.4 %

Shares of NASDAQ:LBAI opened at $11.17 on Friday. The company has a market cap of $727.77 million, a P/E ratio of 8.73 and a beta of 0.85. The stock’s 50-day moving average is $12.06 and its 200-day moving average is $12.76. Lakeland Bancorp has a 52-week low of $10.65 and a 52-week high of $16.00. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results 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. The company had revenue of $72.09 million for the quarter. Lakeland Bancorp had a return on equity of 7.43% and a net margin of 16.42%. Equities research analysts predict that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Lakeland Bancorp

A number of institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. acquired a new stake in Lakeland Bancorp during the third quarter valued at approximately $2,623,000. Vanguard Group Inc. boosted its holdings in Lakeland Bancorp by 1.0% during the third quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock valued at $45,578,000 after purchasing an additional 34,769 shares in the last quarter. Wolverine Asset Management LLC boosted its holdings in Lakeland Bancorp by 42.4% during the third quarter. Wolverine Asset Management LLC now owns 142,835 shares of the financial services provider’s stock valued at $1,803,000 after purchasing an additional 42,542 shares in the last quarter. Swiss National Bank boosted its holdings in Lakeland Bancorp by 1.2% during the third quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock valued at $1,714,000 after purchasing an additional 1,600 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its holdings in Lakeland Bancorp by 12.6% during the third quarter. Hsbc Holdings PLC now owns 56,058 shares of the financial services provider’s stock valued at $710,000 after purchasing an additional 6,293 shares in the last quarter. 59.62% of the stock is owned by institutional investors and hedge funds.

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.