Lakeland Bancorp, Inc. (NASDAQ:LBAI) Shares Acquired by Signaturefd LLC

Signaturefd LLC lifted its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 212.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,597 shares of the financial services provider’s stock after acquiring an additional 1,766 shares during the quarter. Signaturefd LLC’s holdings in Lakeland Bancorp were worth $38,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LBAI. Assenagon Asset Management S.A. acquired a new position in shares of Lakeland Bancorp during the third quarter worth about $2,623,000. Trium Capital LLP acquired a new position in shares of Lakeland Bancorp during the third quarter worth about $1,784,000. American Century Companies Inc. increased its stake in shares of Lakeland Bancorp by 12.5% during the third quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider’s stock worth $7,779,000 after acquiring an additional 68,593 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Lakeland Bancorp by 11.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 630,141 shares of the financial services provider’s stock worth $7,952,000 after acquiring an additional 66,192 shares during the period. Finally, 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 worth $1,803,000 after buying an additional 42,542 shares in the last quarter. 59.62% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Bancorp Stock Up 1.6 %

Shares of NASDAQ LBAI opened at $12.66 on Friday. Lakeland Bancorp, Inc. has a 12-month low of $10.65 and a 12-month high of $16.00. The company has a market capitalization of $824.80 million, a PE ratio of 9.89 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. The firm’s 50-day moving average is $11.99 and its two-hundred day moving average is $12.73.

Lakeland Bancorp Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio is presently 45.31%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on LBAI shares. Keefe, Bruyette & Woods decreased their price objective on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a report on Tuesday, April 23rd. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd.

Lakeland Bancorp Company 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.