Legal & General Group Plc increased its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 11.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,178 shares of the financial services provider’s stock after buying an additional 1,189 shares during the quarter. Legal & General Group Plc’s holdings in Lakeland Bancorp were worth $211,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Victory Capital Management Inc. bought a new position in shares of Lakeland Bancorp during the first quarter worth about $152,000. SG Americas Securities LLC bought a new position in shares of Lakeland Bancorp during the first quarter worth about $169,000. Verus Financial Partners Inc. grew its holdings in shares of Lakeland Bancorp by 0.5% during the second quarter. Verus Financial Partners Inc. now owns 11,735 shares of the financial services provider’s stock worth $221,000 after buying an additional 61 shares in the last quarter. Alps Advisors Inc. grew its holdings in shares of Lakeland Bancorp by 0.3% during the second quarter. Alps Advisors Inc. now owns 23,473 shares of the financial services provider’s stock worth $442,000 after buying an additional 60 shares in the last quarter. Finally, American International Group Inc. grew its holdings in shares of Lakeland Bancorp by 7.5% during the first quarter. American International Group Inc. now owns 24,009 shares of the financial services provider’s stock worth $471,000 after buying an additional 1,685 shares in the last quarter. Institutional investors and hedge funds own 52.64% of the company’s stock.
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In other Lakeland Bancorp news, Director Mark J. Fredericks sold 14,100 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $19.37, for a total transaction of $273,117.00. Following the completion of the sale, the director now directly owns 203,496 shares of the company’s stock, valued at approximately $3,941,717.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Edward B. Deutsch sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $20.00, for a total value of $100,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 24,100 shares of company stock valued at $468,117 over the last three months. Corporate insiders own 6.20% of the company’s stock.
Lakeland Bancorp, Inc. (NASDAQ LBAI) opened at 20.50 on Friday. Lakeland Bancorp, Inc. has a 12 month low of $13.15 and a 12 month high of $20.88. The firm has a market capitalization of $970.72 million, a PE ratio of 19.75 and a beta of 0.82. The company’s 50-day moving average price is $19.20 and its 200 day moving average price is $19.18.
Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, July 20th. The financial services provider reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.02. The firm had revenue of $47.53 million during the quarter, compared to analyst estimates of $46.39 million. Lakeland Bancorp had a return on equity of 9.21% and a net margin of 23.94%. On average, equities research analysts predict that Lakeland Bancorp, Inc. will post $1.10 earnings per share for the current year.
A number of research firms recently issued reports on LBAI. Zacks Investment Research upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Tuesday, July 25th. BidaskClub cut Lakeland Bancorp from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $22.00.
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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