Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Sells $100,320.00 in Stock

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy sold 8,000 shares of Lakeland Bancorp stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $12.54, for a total value of $100,320.00. Following the sale, the executive vice president now owns 40,763 shares in the company, valued at $511,168.02. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Lakeland Bancorp Stock Performance

Shares of NASDAQ:LBAI traded up $0.07 during midday trading on Monday, reaching $13.01. 62,040 shares of the company traded hands, compared to its average volume of 307,877. 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 firm has a market capitalization of $847.60 million, a price-to-earnings ratio of 10.11 and a beta of 0.82. Lakeland Bancorp, Inc. has a 12 month low of $10.65 and a 12 month high of $16.00. The firm’s fifty day moving average price is $12.01 and its two-hundred day moving average price is $12.75.

Lakeland Bancorp Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be given a dividend of $0.145 per share. The ex-dividend date is Friday, April 26th. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.46%. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 45.31%.

Wall Street Analysts Forecast Growth

Several brokerages have commented on LBAI. StockNews.com raised shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd. Keefe, Bruyette & Woods decreased their target price on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating for the company in a research report on Tuesday, April 23rd.

Institutional Investors Weigh In On Lakeland Bancorp

A number of institutional investors and hedge funds have recently made changes to their positions in LBAI. Rise Advisors LLC purchased a new stake in shares of Lakeland Bancorp in the 1st quarter valued at about $29,000. Parallel Advisors LLC increased its holdings in shares of Lakeland Bancorp by 4,563.6% in the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after buying an additional 2,008 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after acquiring an additional 2,178 shares during the last quarter. Signaturefd LLC raised its holdings in shares of Lakeland Bancorp by 212.5% during the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock valued at $38,000 after buying an additional 1,766 shares in the last quarter. Finally, Private Wealth Management Group LLC bought a new position in Lakeland Bancorp during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 59.62% of the company’s stock.

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.