First Trust Advisors LP raised its stake in shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) by 8.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 60,521 shares of the financial services provider’s stock after buying an additional 4,841 shares during the period. First Trust Advisors LP owned about 0.15% of Lakeland Bancorp worth $689,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in the stock. Genesee Valley Trust Co. increased its position in shares of Lakeland Bancorp by 7.6% in the second quarter. Genesee Valley Trust Co. now owns 11,412 shares of the financial services provider’s stock valued at $130,000 after buying an additional 805 shares during the last quarter. Bank of Montreal Can acquired a new position in shares of Lakeland Bancorp during the second quarter valued at approximately $151,000. Verus Financial Partners Inc. increased its position in shares of Lakeland Bancorp by 0.8% in the second quarter. Verus Financial Partners Inc. now owns 13,963 shares of the financial services provider’s stock valued at $159,000 after buying an additional 116 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Lakeland Bancorp by 4.5% in the first quarter. Metropolitan Life Insurance Co. NY now owns 26,508 shares of the financial services provider’s stock valued at $269,000 after buying an additional 1,147 shares during the last quarter. Finally, Barclays PLC increased its position in shares of Lakeland Bancorp by 3.2% in the first quarter. Barclays PLC now owns 36,584 shares of the financial services provider’s stock valued at $365,000 after buying an additional 1,149 shares during the last quarter. Institutional investors and hedge funds own 41.10% of the company’s stock.
Shares of Lakeland Bancorp Inc. (NASDAQ:LBAI) traded up 0.58% during trading on Monday, hitting $13.91. The stock had a trading volume of 7,825 shares. Lakeland Bancorp Inc. has a 12-month low of $9.72 and a 12-month high of $14.13. The firm has a 50 day moving average price of $13.62 and a 200 day moving average price of $11.95. The firm has a market cap of $618.17 million, a P/E ratio of 16.04 and a beta of 0.97.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.26 EPS for the quarter, beating the consensus estimate of $0.24 by $0.02. Lakeland Bancorp had a return on equity of 9.06% and a net margin of 21.18%. On average, equities analysts expect that Lakeland Bancorp Inc. will post $0.99 earnings per share for the current fiscal year.
In related news, Director Edward B. Deutsch sold 5,000 shares of the firm’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $13.00, for a total value of $65,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 7.30% of the stock is owned by corporate insiders.
About Lakeland Bancorp
Lakeland Bancorp, Inc is the bank holding company for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
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