Lakeland Bancorp (NASDAQ:LBAI) Trading 3.5% Higher

Lakeland Bancorp, Inc. (NASDAQ:LBAI)’s stock price shot up 3.5% on Friday . The company traded as high as $11.83 and last traded at $11.76. 75,151 shares traded hands during trading, a decline of 75% from the average session volume of 296,046 shares. The stock had previously closed at $11.36.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LBAI shares. Keefe, Bruyette & Woods reduced their target price on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a report on Tuesday, January 30th. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 12th.

Lakeland Bancorp Price Performance

The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $770.72 million, a price-to-earnings ratio of 9.33 and a beta of 0.85. The company’s 50 day moving average is $11.98 and its 200 day moving average is $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. The company had revenue of $72.09 million for the quarter. Research analysts anticipate that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were issued a $0.145 dividend. This represents a $0.58 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend was Friday, February 2nd. Lakeland Bancorp’s payout ratio is 45.31%.

Institutional Trading of Lakeland Bancorp

Institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in Lakeland Bancorp by 2.5% during the second quarter. BlackRock Inc. now owns 6,257,565 shares of the financial services provider’s stock worth $83,789,000 after acquiring an additional 155,127 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Lakeland Bancorp by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 3,715,855 shares of the financial services provider’s stock valued at $54,957,000 after buying an additional 104,268 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Lakeland Bancorp by 12.5% in the first quarter. Dimensional Fund Advisors LP now owns 3,486,344 shares of the financial services provider’s stock valued at $58,223,000 after buying an additional 387,300 shares during the last quarter. State Street Corp raised its position in shares of Lakeland Bancorp by 30.0% in the first quarter. State Street Corp now owns 1,742,685 shares of the financial services provider’s stock valued at $29,103,000 after buying an additional 402,583 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Lakeland Bancorp by 2.5% in the second quarter. Geode Capital Management LLC now owns 1,327,394 shares of the financial services provider’s stock valued at $17,774,000 after buying an additional 32,508 shares during the last quarter. Hedge funds and other institutional investors own 59.62% of the company’s stock.

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.