Zurcher Kantonalbank Zurich Cantonalbank Has $207,000 Stock Position in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 20.2% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 13,982 shares of the financial services provider’s stock after buying an additional 2,345 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Lakeland Bancorp were worth $207,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of LBAI. Strs Ohio bought a new stake in shares of Lakeland Bancorp during the fourth quarter worth $220,000. Hennessy Advisors Inc. grew its position in Lakeland Bancorp by 11.1% during the 4th quarter. Hennessy Advisors Inc. now owns 200,000 shares of the financial services provider’s stock worth $2,958,000 after acquiring an additional 20,000 shares during the last quarter. Raymond James & Associates increased its holdings in Lakeland Bancorp by 67.3% in the 4th quarter. Raymond James & Associates now owns 18,576 shares of the financial services provider’s stock worth $275,000 after purchasing an additional 7,470 shares in the last quarter. SG Americas Securities LLC raised its position in Lakeland Bancorp by 89.6% in the fourth quarter. SG Americas Securities LLC now owns 22,136 shares of the financial services provider’s stock valued at $327,000 after purchasing an additional 10,463 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of 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. 59.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lakeland Bancorp

In other news, EVP Paul Ho-Sing-Loy sold 8,000 shares of the business’s stock in a transaction that occurred on Thursday, May 2nd. The shares were sold at an average price of $12.54, for a total value of $100,320.00. Following the transaction, the executive vice president now owns 40,763 shares in the company, valued at approximately $511,168.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.08% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LBAI. StockNews.com raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday, April 23rd. Keefe, Bruyette & Woods decreased their price target on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a research report on Tuesday, April 23rd.

Lakeland Bancorp Trading Down 1.2 %

NASDAQ LBAI opened at $12.78 on Wednesday. The firm has a market capitalization of $832.62 million, a PE ratio of 9.98 and a beta of 0.82. The business’s 50-day moving average price is $12.05 and its two-hundred day moving average price is $12.77. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. Lakeland Bancorp, Inc. has a 12 month low of $10.65 and a 12 month high of $16.00.

Lakeland Bancorp Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be issued a $0.145 dividend. This represents a $0.58 annualized dividend and a yield of 4.54%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s payout ratio is presently 45.31%.

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.