BidaskClub upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a hold rating to a buy rating in a research note published on Thursday, June 21st.
Several other analysts also recently issued reports on LBAI. Roth Capital set a $18.00 price target on shares of Lakeland Bancorp and gave the company a buy rating in a report on Tuesday, May 8th. ValuEngine downgraded shares of Lakeland Bancorp from a buy rating to a hold rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research downgraded shares of Lakeland Bancorp from a buy rating to a hold rating in a research note on Tuesday, April 3rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $21.50.
Lakeland Bancorp opened at $19.85 on Thursday, Marketbeat reports. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market cap of $949.51 million, a PE ratio of 16.95 and a beta of 0.85. Lakeland Bancorp has a 12-month low of $15.06 and a 12-month high of $21.90.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Wednesday, April 25th. The financial services provider reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.01). Lakeland Bancorp had a return on equity of 9.69% and a net margin of 25.44%. The firm had revenue of $47.57 million for the quarter, compared to analyst estimates of $47.79 million. sell-side analysts forecast that Lakeland Bancorp will post 1.37 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Lakeland Bancorp by 200.8% in the 1st quarter. Royal Bank of Canada now owns 6,453 shares of the financial services provider’s stock worth $128,000 after buying an additional 4,308 shares during the last quarter. Xact Kapitalforvaltning AB bought a new stake in Lakeland Bancorp in the 4th quarter valued at about $197,000. Alpine Woods Capital Investors LLC bought a new stake in Lakeland Bancorp in the 1st quarter valued at about $199,000. Teacher Retirement System of Texas bought a new stake in Lakeland Bancorp in the 4th quarter valued at about $296,000. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Lakeland Bancorp in the 1st quarter valued at about $300,000. Hedge funds and other institutional investors own 54.34% of the company’s stock.
About Lakeland Bancorp
Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial 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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