Lakeland Bancorp, Inc. (NASDAQ:LBAI) Sees Significant Decrease in Short Interest

Lakeland Bancorp, Inc. (NASDAQ:LBAI) saw a significant drop in short interest in the month of March. As of March 31st, there was short interest totalling 1,180,000 shares, a drop of 9.2% from the March 15th total of 1,300,000 shares. Based on an average daily volume of 293,500 shares, the short-interest ratio is presently 4.0 days.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in LBAI. Rise Advisors LLC bought a new position in Lakeland Bancorp in the first quarter valued at $29,000. Parallel Advisors LLC lifted its stake in Lakeland Bancorp by 4,563.6% in the fourth quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock valued at $30,000 after acquiring an additional 2,008 shares during the last quarter. Lindbrook Capital LLC lifted its stake in Lakeland Bancorp by 4,356.0% in the fourth quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock valued at $33,000 after acquiring an additional 2,178 shares during the last quarter. Signaturefd LLC lifted its stake in Lakeland Bancorp by 212.5% in the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock valued at $38,000 after acquiring an additional 1,766 shares during the last quarter. Finally, Private Wealth Management Group LLC acquired a new stake in Lakeland Bancorp in the fourth quarter valued at $47,000. Institutional investors own 59.62% of the company’s stock.

Lakeland Bancorp Stock Down 2.3 %

Shares of LBAI stock opened at $11.29 on Wednesday. The firm has a fifty day moving average of $12.00 and a 200-day moving average of $12.74. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. Lakeland Bancorp has a 12-month low of $10.65 and a 12-month high of $16.00. The company has a market capitalization of $735.54 million, a price-to-earnings ratio of 8.82 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.30. The company had revenue of $72.09 million during the quarter. Lakeland Bancorp had a net margin of 16.42% and a return on equity of 7.43%. As a group, equities research analysts predict that Lakeland Bancorp will post 1.07 earnings per share for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 15th. Investors of record on Monday, February 5th were given a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date was Friday, February 2nd. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 45.31%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on LBAI shares. StockNews.com upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Friday, April 12th. Keefe, Bruyette & Woods lowered their price objective on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a research report on Tuesday, January 30th.

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.