Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) have been assigned a consensus recommendation of “Hold” from the six analysts that are presently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $20.75.
A number of equities research analysts recently commented on LBAI shares. Keefe, Bruyette & Woods reissued a “buy” rating and issued a $23.50 price objective on shares of Lakeland Bancorp in a research note on Wednesday, August 1st. BidaskClub raised shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research note on Wednesday, May 9th. Roth Capital set a $18.00 price objective on shares of Lakeland Bancorp and gave the company a “buy” rating in a research note on Tuesday, May 8th. ValuEngine cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday.
Several institutional investors have recently added to or reduced their stakes in LBAI. Maltese Capital Management LLC acquired a new stake in shares of Lakeland Bancorp during the 2nd quarter worth about $7,046,000. Principal Financial Group Inc. boosted its stake in shares of Lakeland Bancorp by 1,571.8% during the 1st quarter. Principal Financial Group Inc. now owns 215,196 shares of the financial services provider’s stock worth $4,272,000 after purchasing an additional 202,324 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Lakeland Bancorp during the 1st quarter worth about $3,791,000. BlackRock Inc. boosted its stake in shares of Lakeland Bancorp by 5.2% during the 2nd quarter. BlackRock Inc. now owns 3,140,077 shares of the financial services provider’s stock worth $62,331,000 after purchasing an additional 155,603 shares during the last quarter. Finally, Highlander Capital Management LLC boosted its stake in shares of Lakeland Bancorp by 639.5% during the 1st quarter. Highlander Capital Management LLC now owns 161,227 shares of the financial services provider’s stock worth $3,144,000 after purchasing an additional 139,425 shares during the last quarter. 56.81% of the stock is currently owned by institutional investors.
NASDAQ LBAI traded up $0.35 during trading hours on Friday, reaching $19.65. The company’s stock had a trading volume of 1,240 shares, compared to its average volume of 83,446. The stock has a market cap of $916.47 million, a price-to-earnings ratio of 17.55 and a beta of 0.83. Lakeland Bancorp has a fifty-two week low of $15.06 and a fifty-two week high of $21.90. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.50.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.33 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.33. The firm had revenue of $49.20 million for the quarter, compared to analysts’ expectations of $49.07 million. Lakeland Bancorp had a net margin of 26.02% and a return on equity of 9.99%. research analysts expect that Lakeland Bancorp will post 1.34 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Shareholders of record on Monday, August 6th were paid a dividend of $0.115 per share. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.46 annualized dividend and a dividend yield of 2.34%. Lakeland Bancorp’s dividend payout ratio is currently 41.44%.
Lakeland Bancorp Company Profile
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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