Lakeland Bancorp (NASDAQ:LBAI) Given New $14.15 Price Target at Keefe, Bruyette & Woods

Lakeland Bancorp (NASDAQ:LBAI) had its price objective reduced by Keefe, Bruyette & Woods from $16.65 to $14.15 in a research report released on Tuesday morning, Benzinga reports. They currently have a market perform rating on the financial services provider’s stock.

Separately, StockNews.com upgraded shares of Lakeland Bancorp from a sell rating to a hold rating in a report on Tuesday.

Lakeland Bancorp Stock Performance

Lakeland Bancorp stock opened at $12.85 on Tuesday. The stock’s 50 day simple moving average is $11.97 and its two-hundred day simple moving average is $12.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a market cap of $837.18 million, a price-to-earnings ratio of 10.03 and a beta of 0.85. Lakeland Bancorp has a fifty-two week low of $10.65 and a fifty-two week high of $16.00.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. The business had revenue of $72.09 million for the quarter. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. As a group, analysts expect that Lakeland Bancorp will post 1.07 earnings per share for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be issued a dividend of $0.145 per share. The ex-dividend date is Friday, April 26th. This represents a $0.58 annualized dividend and a dividend yield of 4.51%. Lakeland Bancorp’s payout ratio is 45.31%.

Hedge Funds Weigh In On Lakeland Bancorp

Large investors have recently made changes to their positions in the business. Rise Advisors LLC purchased a new position in shares of Lakeland Bancorp during the first quarter valued at approximately $29,000. Parallel Advisors LLC raised its holdings in Lakeland Bancorp by 4,563.6% in the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after acquiring an additional 2,008 shares during the last quarter. Lindbrook Capital LLC raised its holdings in Lakeland Bancorp by 4,356.0% in the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 2,178 shares during the last quarter. Signaturefd LLC raised its holdings in Lakeland Bancorp by 212.5% in the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after acquiring an additional 1,766 shares during the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in Lakeland Bancorp in the 4th quarter worth approximately $47,000. 59.62% of the stock is currently owned by hedge funds and other institutional investors.

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.