2,419 Shares in Lakeland Bancorp, Inc. (NASDAQ:LBAI) Acquired by Rise Advisors LLC

Rise Advisors LLC purchased a new position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 2,419 shares of the financial services provider’s stock, valued at approximately $29,000.

Several other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in Lakeland Bancorp by 1.0% during the 3rd quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock worth $45,578,000 after purchasing an additional 34,769 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Lakeland Bancorp by 10.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 698,704 shares of the financial services provider’s stock worth $10,334,000 after purchasing an additional 68,563 shares during the last quarter. American Century Companies Inc. lifted its holdings in Lakeland Bancorp by 12.5% during the 3rd quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider’s stock worth $7,779,000 after purchasing an additional 68,593 shares during the last quarter. AQR Arbitrage LLC lifted its holdings in Lakeland Bancorp by 2.4% during the 3rd quarter. AQR Arbitrage LLC now owns 509,266 shares of the financial services provider’s stock worth $6,427,000 after purchasing an additional 12,025 shares during the last quarter. Finally, Alpine Associates Management Inc. lifted its holdings in Lakeland Bancorp by 0.7% during the 4th quarter. Alpine Associates Management Inc. now owns 508,624 shares of the financial services provider’s stock worth $7,523,000 after purchasing an additional 3,600 shares during the last quarter. 59.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lakeland Bancorp

In other news, EVP Paul Ho-Sing-Loy sold 8,000 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $12.54, for a total value of $100,320.00. Following the transaction, the executive vice president now directly owns 40,763 shares of the company’s stock, valued at approximately $511,168.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.08% of the company’s stock.

Lakeland Bancorp Price Performance

Shares of NASDAQ LBAI opened at $13.43 on Friday. The stock has a market capitalization of $874.96 million, a PE ratio of 10.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. The business has a fifty day moving average price of $12.99 and a two-hundred day moving average price of $13.05. Lakeland Bancorp, Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $16.00.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Friday, April 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $67.65 million for the quarter. Lakeland Bancorp had a return on equity of 7.34% and a net margin of 16.00%. As a group, equities analysts predict that Lakeland Bancorp, Inc. will post 1.07 earnings per share for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Shareholders of record on Monday, April 29th were given a $0.145 dividend. The ex-dividend date was Friday, April 26th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.32%. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 45.31%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on LBAI. Keefe, Bruyette & Woods dropped their price objective on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a report on Tuesday, April 23rd. StockNews.com began coverage on Lakeland Bancorp in a report on Sunday, June 16th. They issued a “sell” rating for the company.

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.