Lakeland Bancorp (NASDAQ:LBAI) Sees Large Volume Increase

Lakeland Bancorp, Inc. (NASDAQ:LBAI) saw unusually-strong trading volume on Monday . Approximately 462,093 shares traded hands during trading, an increase of 52% from the previous session’s volume of 303,077 shares.The stock last traded at $12.81 and had previously closed at $11.95.

Analyst Ratings Changes

A number of analysts have recently commented on LBAI shares. Keefe, Bruyette & Woods cut their target price on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a research note on Tuesday. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday.

Lakeland Bancorp Stock Performance

The firm’s 50 day moving average is $11.97 and its 200-day moving average is $12.72. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market cap of $837.18 million, a PE ratio of 10.04 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, meeting the consensus estimate of $0.30. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. The business had revenue of $72.09 million during the quarter. On average, research analysts anticipate that Lakeland Bancorp, Inc. will post 1.07 earnings per share for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be issued a $0.145 dividend. The ex-dividend date is Friday, April 26th. This represents a $0.58 annualized dividend and a dividend yield of 4.51%. Lakeland Bancorp’s dividend payout ratio is currently 45.31%.

Hedge Funds Weigh In On Lakeland Bancorp

Several large investors have recently made changes to their positions in LBAI. Bank of New York Mellon Corp lifted its holdings in Lakeland Bancorp by 2.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 477,455 shares of the financial services provider’s stock worth $6,025,000 after buying an additional 13,246 shares in the last quarter. Waldron Private Wealth LLC purchased a new position in shares of Lakeland Bancorp in the 3rd quarter valued at $312,000. Inspire Investing LLC grew its position in Lakeland Bancorp by 3.9% during the 3rd quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider’s stock worth $307,000 after purchasing an additional 915 shares during the last quarter. Olympiad Research LP increased its stake in Lakeland Bancorp by 9.9% in the third quarter. Olympiad Research LP now owns 46,458 shares of the financial services provider’s stock valued at $586,000 after purchasing an additional 4,192 shares during the period. Finally, Assenagon Asset Management S.A. acquired a new position in Lakeland Bancorp in the third quarter valued at $2,623,000. 59.62% of the stock is currently owned by institutional investors and hedge funds.

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.