Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) have been assigned an average rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $21.25.
Several equities analysts recently weighed in on the company. Zacks Investment Research downgraded Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. BidaskClub upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Thursday, May 9th. FIG Partners reiterated an “outperform” rating on shares of Lakeland Bancorp in a research report on Monday, May 6th. ValuEngine upgraded Lakeland Bancorp from a “strong sell” rating to a “sell” rating in a research report on Tuesday, April 30th. Finally, Boenning Scattergood upgraded Lakeland Bancorp from a “neutral” rating to an “outperform” rating and set a $19.00 target price on the stock in a research report on Tuesday, April 30th.
Institutional investors have recently made changes to their positions in the company. Acadian Asset Management LLC purchased a new position in shares of Lakeland Bancorp in the fourth quarter valued at about $49,000. Legal & General Group Plc lifted its position in shares of Lakeland Bancorp by 12.4% in the fourth quarter. Legal & General Group Plc now owns 8,146 shares of the financial services provider’s stock valued at $120,000 after acquiring an additional 897 shares in the last quarter. BNP Paribas Arbitrage SA lifted its position in shares of Lakeland Bancorp by 55,011.8% in the first quarter. BNP Paribas Arbitrage SA now owns 9,369 shares of the financial services provider’s stock valued at $140,000 after acquiring an additional 9,352 shares in the last quarter. Verus Financial Partners Inc. purchased a new position in shares of Lakeland Bancorp in the first quarter valued at about $150,000. Finally, Algert Global LLC purchased a new position in shares of Lakeland Bancorp in the fourth quarter valued at about $153,000. Institutional investors and hedge funds own 55.16% of the company’s stock.
NASDAQ LBAI opened at $16.21 on Monday. The firm has a market cap of $831.78 million, a P/E ratio of 12.10 and a beta of 0.90. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. Lakeland Bancorp has a fifty-two week low of $13.77 and a fifty-two week high of $21.15.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Monday, April 29th. The financial services provider reported $0.31 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.31. The company had revenue of $54.33 million for the quarter, compared to the consensus estimate of $53.67 million. Lakeland Bancorp had a return on equity of 10.34% and a net margin of 25.63%. On average, equities research analysts anticipate that Lakeland Bancorp will post 1.38 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 17th. Stockholders of record on Thursday, May 9th were given a $0.125 dividend. This represents a $0.50 annualized dividend and a dividend yield of 3.08%. This is an increase from Lakeland Bancorp’s previous quarterly dividend of $0.12. The ex-dividend date of this dividend was Wednesday, May 8th. Lakeland Bancorp’s payout ratio is presently 37.31%.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.
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