Keefe, Bruyette & Woods Trims Lakeland Bancorp (NASDAQ:LBAI) Target Price to $14.15

Lakeland Bancorp (NASDAQ:LBAI) had its target price reduced by stock analysts at Keefe, Bruyette & Woods from $16.65 to $14.15 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 12.30% from the company’s previous close.

Separately, StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday.

Lakeland Bancorp Price Performance

Shares of NASDAQ:LBAI opened at $12.60 on Tuesday. Lakeland Bancorp has a one year low of $10.65 and a one year high of $16.00. The stock has a fifty day moving average of $11.97 and a 200-day moving average of $12.72. The company has a market capitalization of $820.89 million, a PE ratio of 9.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93.

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

Institutional Trading of Lakeland Bancorp

Several hedge funds and other institutional investors have recently modified their holdings of the company. Park Avenue Securities LLC purchased a new stake in shares of Lakeland Bancorp during the first quarter worth $429,000. Rise Advisors LLC purchased a new stake in shares of Lakeland Bancorp during the first quarter worth $29,000. Hennessy Advisors Inc. raised its holdings in shares of Lakeland Bancorp by 11.1% during the fourth quarter. Hennessy Advisors Inc. now owns 200,000 shares of the financial services provider’s stock worth $2,958,000 after acquiring an additional 20,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Lakeland Bancorp during the fourth quarter worth $790,000. Finally, Mendon Capital Advisors Corp purchased a new stake in shares of Lakeland Bancorp during the fourth quarter worth $2,431,000. 59.62% of the stock is currently owned by hedge funds and other institutional investors.

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.