Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 2,870 shares of the stock in a transaction on Friday, March 9th. The shares were sold at an average price of $20.50, for a total value of $58,835.00. Following the completion of the transaction, the director now directly owns 11,905 shares in the company, valued at approximately $244,052.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Shares of NASDAQ LBAI traded down $0.40 during trading on Friday, hitting $19.80. 144,656 shares of the company traded hands, compared to its average volume of 120,434. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Lakeland Bancorp, Inc. has a fifty-two week low of $15.06 and a fifty-two week high of $21.90. The firm has a market capitalization of $951.49, a P/E ratio of 17.84 and a beta of 0.84.
Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Friday, January 26th. The financial services provider reported $0.29 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.29. Lakeland Bancorp had a net margin of 24.38% and a return on equity of 9.31%. The company had revenue of $48.16 million for the quarter, compared to analyst estimates of $48.21 million. equities research analysts forecast that Lakeland Bancorp, Inc. will post 1.36 EPS for the current year.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in LBAI. Dimensional Fund Advisors LP boosted its holdings in Lakeland Bancorp by 3.7% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,397,428 shares of the financial services provider’s stock worth $48,907,000 after buying an additional 84,832 shares during the period. Deutsche Bank AG lifted its stake in Lakeland Bancorp by 124.0% in the 4th quarter. Deutsche Bank AG now owns 106,090 shares of the financial services provider’s stock worth $2,041,000 after purchasing an additional 58,725 shares in the last quarter. BlackRock Inc. lifted its stake in Lakeland Bancorp by 1.9% in the 4th quarter. BlackRock Inc. now owns 2,989,563 shares of the financial services provider’s stock worth $57,549,000 after purchasing an additional 57,104 shares in the last quarter. State Street Corp raised its position in shares of Lakeland Bancorp by 6.7% during the 2nd quarter. State Street Corp now owns 820,868 shares of the financial services provider’s stock valued at $15,476,000 after buying an additional 51,809 shares in the last quarter. Finally, Sterling Capital Management LLC purchased a new stake in shares of Lakeland Bancorp during the 3rd quarter valued at $1,012,000. 53.64% of the stock is owned by institutional investors.
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.
Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.