Lakeland Bancorp (NASDAQ:LBAI) Rating Increased to Hold at StockNews.com

Lakeland Bancorp (NASDAQ:LBAI) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a note issued to investors on Tuesday.

Separately, Keefe, Bruyette & Woods reduced their target price on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a report on Tuesday, January 30th.

Lakeland Bancorp Trading Down 0.1 %

NASDAQ:LBAI opened at $12.84 on Tuesday. Lakeland Bancorp has a 52 week low of $10.65 and a 52 week high of $16.00. The firm has a 50 day moving average of $11.98 and a 200 day moving average of $12.72. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The stock has a market capitalization of $836.58 million, a price-to-earnings ratio of 10.03 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $72.09 million during the quarter. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. As a group, sell-side analysts anticipate that Lakeland Bancorp will post 1.07 earnings per share for the current fiscal year.

Institutional Trading of Lakeland Bancorp

Institutional investors have recently modified their holdings of the stock. Parallel Advisors LLC grew its position in shares of 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 purchasing an additional 2,008 shares during the period. Lindbrook Capital LLC grew its position in shares of 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 purchasing an additional 2,178 shares during the period. Rise Advisors LLC acquired a new stake in shares of Lakeland Bancorp in the first quarter valued at about $29,000. Signaturefd LLC lifted its stake in shares of Lakeland Bancorp by 212.5% in the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,766 shares in the last quarter. Finally, Private Wealth Management Group LLC purchased a new position in shares of Lakeland Bancorp in the fourth quarter worth about $47,000. Institutional investors and hedge funds own 59.62% of the company’s stock.

About Lakeland Bancorp

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.