Lakeland Bancorp (NASDAQ:LBAI) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Lakeland Bancorp (NASDAQ:LBAI) from a sell rating to a hold rating in a research note published on Tuesday morning.

Separately, Keefe, Bruyette & Woods reduced their price target on shares of Lakeland Bancorp from $17.50 to $16.65 and set a market perform rating on the stock in a research report on Tuesday, January 30th.

Lakeland Bancorp Trading Up 0.7 %

Shares of LBAI stock opened at $12.52 on Tuesday. The firm has a market cap of $815.68 million, a P/E ratio of 9.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. Lakeland Bancorp has a 1-year low of $10.65 and a 1-year high of $16.00. The firm’s 50-day simple moving average is $11.98 and its 200-day simple moving average is $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $72.09 million for the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. As a group, equities analysts forecast that Lakeland Bancorp will post 1.07 EPS for the current year.

Lakeland Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be given a dividend of $0.145 per share. The ex-dividend date is Friday, April 26th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.63%. Lakeland Bancorp’s payout ratio is currently 45.31%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in LBAI. Bank of New York Mellon Corp increased its stake in shares of Lakeland Bancorp by 2.9% in the third 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 during the last quarter. Waldron Private Wealth LLC bought a new position in shares of Lakeland Bancorp during the third quarter worth about $312,000. Inspire Investing LLC grew its position in shares of Lakeland Bancorp by 3.9% during the third quarter. Inspire Investing LLC now owns 24,317 shares of the financial services provider’s stock worth $307,000 after acquiring an additional 915 shares during the last quarter. Olympiad Research LP grew its position in shares of Lakeland Bancorp by 9.9% during the third quarter. Olympiad Research LP now owns 46,458 shares of the financial services provider’s stock worth $586,000 after acquiring an additional 4,192 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Lakeland Bancorp during the third quarter worth about $2,623,000. 59.62% of the stock is owned by institutional investors and hedge funds.

About Lakeland Bancorp

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.