Sterling Financial Planning Inc. Sells 997 Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI)


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Sterling Financial Planning Inc. trimmed its holdings in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 45,570 shares of the financial services provider’s stock after selling 997 shares during the quarter. Sterling Financial Planning Inc. owned about 0.09% of Lakeland Bancorp worth $794,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in LBAI. Hsbc Holdings PLC boosted its position in Lakeland Bancorp by 1.7% during the 4th quarter. Hsbc Holdings PLC now owns 51,984 shares of the financial services provider’s stock worth $659,000 after buying an additional 860 shares during the period. First Trust Advisors LP increased its stake in Lakeland Bancorp by 5.9% during the 4th quarter. First Trust Advisors LP now owns 19,905 shares of the financial services provider’s stock valued at $253,000 after purchasing an additional 1,106 shares in the last quarter. Lucas Capital Management increased its stake in Lakeland Bancorp by 1.9% during the 4th quarter. Lucas Capital Management now owns 72,265 shares of the financial services provider’s stock valued at $918,000 after purchasing an additional 1,326 shares in the last quarter. Sei Investments Co. increased its stake in Lakeland Bancorp by 6.5% during the 3rd quarter. Sei Investments Co. now owns 29,800 shares of the financial services provider’s stock valued at $297,000 after purchasing an additional 1,813 shares in the last quarter. Finally, Cutler Capital Management LLC increased its stake in Lakeland Bancorp by 3.0% during the 1st quarter. Cutler Capital Management LLC now owns 68,000 shares of the financial services provider’s stock valued at $1,185,000 after purchasing an additional 2,000 shares in the last quarter. 56.65% of the stock is currently owned by institutional investors and hedge funds.

A number of equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Thursday, April 29th. Raymond James raised shares of Lakeland Bancorp from an “outperform” rating to a “strong-buy” rating and lifted their price objective for the stock from $17.00 to $23.00 in a report on Tuesday.

Shares of NASDAQ:LBAI traded down $0.22 during midday trading on Tuesday, reaching $18.45. The company had a trading volume of 289 shares, compared to its average volume of 172,038. The company’s 50 day moving average price is $17.53 and its 200 day moving average price is $14.41. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.34. The stock has a market cap of $933.53 million, a P/E ratio of 16.67 and a beta of 0.97. Lakeland Bancorp, Inc. has a 52-week low of $8.78 and a 52-week high of $18.75.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Monday, April 26th. The financial services provider reported $0.45 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.06. Lakeland Bancorp had a net margin of 20.64% and a return on equity of 7.75%. Research analysts forecast that Lakeland Bancorp, Inc. will post 1.06 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, May 18th. Stockholders of record on Friday, May 7th will be given a dividend of $0.135 per share. The ex-dividend date of this dividend is Thursday, May 6th. This is a boost from Lakeland Bancorp’s previous quarterly dividend of $0.13. This represents a $0.54 annualized dividend and a dividend yield of 2.93%. Lakeland Bancorp’s dividend payout ratio is currently 34.97%.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. The company 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.

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

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