Brown Brothers Harriman & Co. Boosts Stock Position in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Brown Brothers Harriman & Co. increased its holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 12.5% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 90,000 shares of the financial services provider’s stock after buying an additional 10,000 shares during the period. Brown Brothers Harriman & Co. owned 0.18% of Lakeland Bancorp worth $1,573,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Qube Research & Technologies Ltd increased its position in shares of Lakeland Bancorp by 18.3% in the second quarter. Qube Research & Technologies Ltd now owns 21,330 shares of the financial services provider’s stock worth $373,000 after purchasing an additional 3,306 shares during the last quarter. Geode Capital Management LLC raised its position in Lakeland Bancorp by 1.4% during the second quarter. Geode Capital Management LLC now owns 869,203 shares of the financial services provider’s stock valued at $15,193,000 after purchasing an additional 12,240 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Lakeland Bancorp by 0.5% during the second quarter. Fuller & Thaler Asset Management Inc. now owns 381,818 shares of the financial services provider’s stock worth $6,674,000 after purchasing an additional 1,720 shares during the last quarter. Private Advisor Group LLC boosted its holdings in shares of Lakeland Bancorp by 6.1% in the 2nd quarter. Private Advisor Group LLC now owns 36,491 shares of the financial services provider’s stock worth $638,000 after purchasing an additional 2,091 shares in the last quarter. Finally, Bank of Montreal Can increased its position in shares of Lakeland Bancorp by 30.9% during the 2nd quarter. Bank of Montreal Can now owns 305,948 shares of the financial services provider’s stock valued at $5,397,000 after purchasing an additional 72,188 shares during the last quarter. 59.37% of the stock is owned by institutional investors.

LBAI opened at $17.72 on Thursday. The company has a debt-to-equity ratio of 0.17, a current ratio of 0.93 and a quick ratio of 0.93. The stock’s 50 day simple moving average is $16.94 and its 200 day simple moving average is $17.41. The firm has a market cap of $896.65 million, a price-to-earnings ratio of 10.87 and a beta of 1.02. Lakeland Bancorp, Inc. has a 1 year low of $10.13 and a 1 year high of $19.35.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Wednesday, July 21st. The financial services provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.10. The firm had revenue of $65.01 million during the quarter, compared to analyst estimates of $63.87 million. Lakeland Bancorp had a return on equity of 10.88% and a net margin of 30.21%. As a group, sell-side analysts anticipate that Lakeland Bancorp, Inc. will post 1.86 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 13th. Stockholders of record on Monday, August 2nd were paid a dividend of $0.135 per share. This represents a $0.54 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Friday, July 30th. Lakeland Bancorp’s dividend payout ratio (DPR) is 47.79%.

In other Lakeland Bancorp news, Director Brian Gragnolati purchased 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 22nd. The stock was bought at an average price of $16.45 per share, with a total value of $32,900.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Paul Ho-Sing-Loy acquired 3,000 shares of Lakeland Bancorp stock in a transaction on Friday, September 17th. The shares were bought at an average cost of $16.50 per share, for a total transaction of $49,500.00. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 12,250 shares of company stock valued at $201,723. 4.24% of the stock is currently owned by company insiders.

LBAI has been the subject of several research reports. Zacks Investment Research lowered Lakeland Bancorp from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 14th. DA Davidson reaffirmed a “buy” rating on shares of Lakeland Bancorp in a research note on Tuesday, June 29th.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of lending, depository, and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, consumer installment loans, mortgage loans, and safe deposit services.

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

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