PNC Financial Services Group Inc. Purchases 8,010 Shares of Lakeland Bancorp, Inc. (LBAI)

Share on StockTwits

PNC Financial Services Group Inc. boosted its position in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 13.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 66,488 shares of the financial services provider’s stock after acquiring an additional 8,010 shares during the period. PNC Financial Services Group Inc. owned 0.14% of Lakeland Bancorp worth $985,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the stock. Acadian Asset Management LLC acquired a new position in Lakeland Bancorp during the 4th quarter worth approximately $49,000. Prudential Financial Inc. grew its holdings in shares of Lakeland Bancorp by 1.6% in the fourth quarter. Prudential Financial Inc. now owns 98,286 shares of the financial services provider’s stock valued at $1,456,000 after acquiring an additional 1,530 shares in the last quarter. LSV Asset Management grew its holdings in shares of Lakeland Bancorp by 23.9% in the fourth quarter. LSV Asset Management now owns 391,483 shares of the financial services provider’s stock valued at $5,797,000 after acquiring an additional 75,400 shares in the last quarter. Algert Global LLC bought a new position in shares of Lakeland Bancorp in the fourth quarter valued at approximately $153,000. Finally, Rhumbline Advisers grew its holdings in shares of Lakeland Bancorp by 47.3% in the fourth quarter. Rhumbline Advisers now owns 65,381 shares of the financial services provider’s stock valued at $968,000 after acquiring an additional 20,995 shares in the last quarter. Institutional investors and hedge funds own 56.47% of the company’s stock.

In other news, Director Robert K. Nicholson III acquired 13,000 shares of Lakeland Bancorp stock in a transaction on Friday, December 21st. The stock was acquired at an average cost of $14.45 per share, with a total value of $187,850.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James E. Hanson II acquired 1,585 shares of Lakeland Bancorp stock in a transaction on Friday, February 1st. The shares were purchased at an average cost of $15.78 per share, with a total value of $25,011.30. The disclosure for this purchase can be found here. 6.07% of the stock is currently owned by corporate insiders.

LBAI stock opened at $15.96 on Friday. The company has a market capitalization of $799.85 million, a PE ratio of 11.91 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. Lakeland Bancorp, Inc. has a 12-month low of $13.77 and a 12-month high of $21.20.

Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Monday, January 28th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Lakeland Bancorp had a return on equity of 10.67% and a net margin of 26.93%. The company had revenue of $49.83 million during the quarter, compared to analyst estimates of $49.63 million. Analysts anticipate that Lakeland Bancorp, Inc. will post 1.37 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 15th. Shareholders of record on Friday, February 8th were issued a dividend of $0.115 per share. This represents a $0.46 annualized dividend and a yield of 2.88%. The ex-dividend date of this dividend was Thursday, February 7th. Lakeland Bancorp’s dividend payout ratio (DPR) is 34.33%.

Several equities analysts have recently issued reports on LBAI shares. BidaskClub lowered Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a report on Thursday, March 7th. Zacks Investment Research lowered Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Saturday, January 12th. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $19.88.

ILLEGAL ACTIVITY WARNING: “PNC Financial Services Group Inc. Purchases 8,010 Shares of Lakeland Bancorp, Inc. (LBAI)” was originally published by Ticker Report and is the property of of Ticker Report. If you are reading this piece on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The correct version of this piece can be read at https://www.tickerreport.com/banking-finance/4223374/pnc-financial-services-group-inc-purchases-8010-shares-of-lakeland-bancorp-inc-lbai.html.

Lakeland Bancorp Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

Featured Article: 12b-1 Fees

Want to see what other hedge funds are holding LBAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Bancorp, Inc. (NASDAQ:LBAI).

Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

VikkyToken Achieves Market Cap of $28,771.00
VikkyToken Achieves Market Cap of $28,771.00
Head to Head Analysis: Key Energy Services  vs. RPC
Head to Head Analysis: Key Energy Services vs. RPC
Colu Local Network  Price Up 4.3% This Week
Colu Local Network Price Up 4.3% This Week
Gladstone Capital Co.  Expected to Announce Earnings of $0.21 Per Share
Gladstone Capital Co. Expected to Announce Earnings of $0.21 Per Share
Bitcoin Gold Reaches Market Capitalization of $392.92 Million
Bitcoin Gold Reaches Market Capitalization of $392.92 Million
Quanta Services Inc  Receives $42.80 Average PT from Brokerages
Quanta Services Inc Receives $42.80 Average PT from Brokerages


© 2006-2019 Ticker Report