Insider Selling: Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Sells $100,320.00 in Stock

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy sold 8,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.54, for a total value of $100,320.00. Following the completion of the transaction, the executive vice president now owns 40,763 shares in the company, valued at $511,168.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Lakeland Bancorp Trading Up 2.7 %

Shares of NASDAQ LBAI opened at $13.12 on Thursday. The business’s 50 day moving average is $12.09 and its two-hundred day moving average is $12.77. 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, Inc. has a 1-year low of $10.65 and a 1-year high of $16.00. The stock has a market capitalization of $854.83 million, a P/E ratio of 10.25 and a beta of 0.82.

Lakeland Bancorp Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th were paid a dividend of $0.145 per share. The ex-dividend date of this dividend was Friday, April 26th. This represents a $0.58 annualized dividend and a yield of 4.42%. Lakeland Bancorp’s payout ratio is currently 45.31%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods decreased their target price on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a research report on Tuesday, April 23rd.

Institutional Investors Weigh In On Lakeland Bancorp

Several large investors have recently added to or reduced their stakes in LBAI. Bank of New York Mellon Corp increased its stake in Lakeland Bancorp by 2.9% during 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 acquiring 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 valued at approximately $312,000. Inspire Investing LLC grew its stake 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 valued at $307,000 after buying an additional 915 shares during the last quarter. Olympiad Research LP grew its stake 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 valued at $586,000 after buying 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 valued at approximately $2,623,000. 59.62% of the stock is owned by 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.