Lakeland Bancorp, Inc. (NASDAQ:LBAI) Stock Holdings Lifted by Raymond James & Associates

Raymond James & Associates lifted its stake in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 67.3% in the 4th quarter, HoldingsChannel.com reports. The fund owned 18,576 shares of the financial services provider’s stock after acquiring an additional 7,470 shares during the quarter. Raymond James & Associates’ holdings in Lakeland Bancorp were worth $275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of LBAI. Inspire Investing LLC raised its holdings in Lakeland Bancorp by 3.9% during the 3rd quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider’s stock worth $307,000 after buying an additional 915 shares during the period. Gateway Advisory LLC raised its holdings in shares of Lakeland Bancorp by 1.4% during the third quarter. Gateway Advisory LLC now owns 94,326 shares of the financial services provider’s stock valued at $1,190,000 after acquiring an additional 1,319 shares during the period. Swiss National Bank lifted its position in shares of Lakeland Bancorp by 1.2% in the 3rd quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock valued at $1,714,000 after acquiring an additional 1,600 shares in the last quarter. Aigen Investment Management LP boosted its stake in Lakeland Bancorp by 31.5% in the 3rd quarter. Aigen Investment Management LP now owns 14,690 shares of the financial services provider’s stock worth $185,000 after purchasing an additional 3,518 shares during the period. Finally, Olympiad Research LP grew its position in Lakeland Bancorp by 9.9% during the 3rd quarter. Olympiad Research LP now owns 46,458 shares of the financial services provider’s stock worth $586,000 after purchasing an additional 4,192 shares in the last quarter. Institutional investors and hedge funds own 59.62% of the company’s stock.

Analyst Ratings Changes

LBAI has been the subject of a number of research analyst reports. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods reduced their price objective on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a research note on Tuesday, April 23rd.

Lakeland Bancorp Stock Performance

Shares of LBAI opened at $12.39 on Tuesday. The company has a market capitalization of $807.26 million, a PE ratio of 9.68 and a beta of 0.85. 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 company’s 50 day moving average price is $11.98 and its 200 day moving average price is $12.73. Lakeland Bancorp, Inc. has a 52 week low of $10.65 and a 52 week high of $16.00.

Lakeland Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be paid a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.68%. The ex-dividend date of this dividend is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 45.31%.

Lakeland Bancorp Profile

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.