Brown Advisory Inc. boosted its position in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 46.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,838 shares of the financial services provider’s stock after purchasing an additional 7,514 shares during the quarter. Brown Advisory Inc. owned about 0.05% of Lakeland Bancorp worth $486,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Alps Advisors Inc. lifted its stake in Lakeland Bancorp by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 23,473 shares of the financial services provider’s stock worth $442,000 after purchasing an additional 60 shares in the last quarter. Legal & General Group Plc raised its position in shares of Lakeland Bancorp by 5.9% during the 1st quarter. Legal & General Group Plc now owns 9,989 shares of the financial services provider’s stock valued at $195,000 after buying an additional 559 shares in the last quarter. Victory Capital Management Inc. raised its position in shares of Lakeland Bancorp by 17.6% during the 2nd quarter. Victory Capital Management Inc. now owns 9,108 shares of the financial services provider’s stock valued at $172,000 after buying an additional 1,366 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Lakeland Bancorp by 1.5% during the 2nd quarter. California Public Employees Retirement System now owns 104,800 shares of the financial services provider’s stock valued at $1,975,000 after buying an additional 1,500 shares in the last quarter. Finally, Nationwide Fund Advisors raised its position in shares of Lakeland Bancorp by 5.7% during the 2nd quarter. Nationwide Fund Advisors now owns 30,396 shares of the financial services provider’s stock valued at $573,000 after buying an additional 1,639 shares in the last quarter. Institutional investors and hedge funds own 52.97% of the company’s stock.
Several research firms have recently weighed in on LBAI. BidaskClub cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Saturday. Zacks Investment Research cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Lakeland Bancorp currently has an average rating of “Hold” and an average price target of $22.00.
Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) opened at $20.10 on Monday. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 0.52. The firm has a market cap of $951.80, a price-to-earnings ratio of 18.44 and a beta of 0.78. Lakeland Bancorp, Inc. has a 52-week low of $15.06 and a 52-week high of $21.90.
Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.28 by $0.01. Lakeland Bancorp had a net margin of 24.54% and a return on equity of 9.12%. The firm had revenue of $47.57 million for the quarter, compared to analysts’ expectations of $47.79 million. sell-side analysts expect that Lakeland Bancorp, Inc. will post 1.12 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Investors of record on Monday, November 6th were issued a dividend of $0.10 per share. This represents a $0.40 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend was Friday, November 3rd. Lakeland Bancorp’s dividend payout ratio is currently 36.70%.
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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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