Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) have been assigned a consensus rating of “Hold” from the six research firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company. The average 1-year price target among brokerages that have covered the stock in the last year is $19.00.
A number of equities analysts have commented on the company. Zacks Investment Research cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. BidaskClub raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Thursday, September 12th. Finally, DA Davidson reaffirmed a “buy” rating on shares of Lakeland Bancorp in a research note on Wednesday, September 11th.
Institutional investors and hedge funds have recently bought and sold shares of the company. Acadian Asset Management LLC increased its stake in shares of Lakeland Bancorp by 135.4% during the second quarter. Acadian Asset Management LLC now owns 102,353 shares of the financial services provider’s stock valued at $1,654,000 after buying an additional 58,866 shares during the period. Wells Fargo & Company MN boosted its position in shares of Lakeland Bancorp by 26.0% during the second quarter. Wells Fargo & Company MN now owns 149,985 shares of the financial services provider’s stock valued at $2,423,000 after purchasing an additional 30,985 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of Lakeland Bancorp by 4.7% during the second quarter. Prudential Financial Inc. now owns 160,020 shares of the financial services provider’s stock valued at $2,584,000 after purchasing an additional 7,140 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Lakeland Bancorp during the second quarter valued at approximately $37,000. Finally, Renaissance Technologies LLC boosted its position in shares of Lakeland Bancorp by 6.6% during the second quarter. Renaissance Technologies LLC now owns 881,600 shares of the financial services provider’s stock valued at $14,238,000 after purchasing an additional 54,200 shares in the last quarter. 55.30% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lakeland Bancorp stock opened at $15.24 on Tuesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day simple moving average is $15.28 and its two-hundred day simple moving average is $15.69. The stock has a market capitalization of $760.87 million, a P/E ratio of 11.37 and a beta of 0.89. Lakeland Bancorp has a one year low of $13.77 and a one year high of $17.50.
Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Friday, July 26th. The financial services provider reported $0.35 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.35. The business had revenue of $55.59 million for the quarter, compared to analysts’ expectations of $56.18 million. Lakeland Bancorp had a return on equity of 10.22% and a net margin of 24.95%. Sell-side analysts expect that Lakeland Bancorp will post 1.38 earnings per share for the current fiscal year.
About Lakeland Bancorp
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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