Lakeland Bancorp (NASDAQ:LBAI) Trading Up 3.5%

Lakeland Bancorp, Inc. (NASDAQ:LBAI)’s share price was up 3.5% during trading on Friday . The stock traded as high as $11.83 and last traded at $11.76. Approximately 75,151 shares were traded during trading, a decline of 75% from the average daily volume of 296,046 shares. The stock had previously closed at $11.36.

Analyst Ratings Changes

Several equities analysts have commented on LBAI shares. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 12th. Keefe, Bruyette & Woods lowered their target price on shares of 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 5.2 %

The company has a market capitalization of $778.54 million, a price-to-earnings ratio of 9.34 and a beta of 0.85. The company has a 50-day moving average price of $11.97 and a 200-day moving average price of $12.71. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

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%. Research analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be given a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 4.85%. The ex-dividend date of this dividend is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio is currently 45.31%.

Institutional Investors Weigh In On Lakeland Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. lifted its stake in shares of Lakeland Bancorp by 14.4% in the third quarter. BlackRock Inc. now owns 6,155,805 shares of the financial services provider’s stock valued at $98,555,000 after buying an additional 773,060 shares during the period. Vanguard Group Inc. lifted its stake in shares of Lakeland Bancorp by 26.4% in the first quarter. Vanguard Group Inc. now owns 3,600,914 shares of the financial services provider’s stock valued at $60,135,000 after buying an additional 751,881 shares during the period. State Street Corp lifted its stake in shares of Lakeland Bancorp by 30.0% in the first quarter. State Street Corp now owns 1,742,685 shares of the financial services provider’s stock valued at $29,103,000 after buying an additional 402,583 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Lakeland Bancorp by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,486,344 shares of the financial services provider’s stock valued at $58,223,000 after buying an additional 387,300 shares during the period. Finally, Millennium Management LLC bought a new stake in shares of Lakeland Bancorp in the fourth quarter valued at about $5,144,000. 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.