Lakeland Bancorp (NASDAQ:LBAI) Stock Rating Lowered by BidaskClub

Lakeland Bancorp (NASDAQ:LBAI) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, January 3rd.

Several other brokerages also recently commented on LBAI. Keefe, Bruyette & Woods reiterated a “buy” rating and set a $24.50 target price on shares of Lakeland Bancorp in a research note on Friday, December 22nd. Zacks Investment Research downgraded Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Lakeland Bancorp has a consensus rating of “Buy” and an average price target of $23.75.

Lakeland Bancorp (NASDAQ LBAI) traded up $0.20 during mid-day trading on Wednesday, reaching $19.40. The company had a trading volume of 210,200 shares, compared to its average volume of 106,517. Lakeland Bancorp has a one year low of $15.06 and a one year high of $21.90. 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 company has a market cap of $909.94, a price-to-earnings ratio of 17.96 and a beta of 0.79.

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 Zacks’ consensus estimate of $0.28 by $0.01. Lakeland Bancorp had a return on equity of 9.12% and a net margin of 24.54%. The company had revenue of $47.57 million during the quarter, compared to analyst estimates of $47.79 million. equities research analysts predict that Lakeland Bancorp will post 1.12 earnings per share for the current year.

In related news, Director Robert K. Nicholson III sold 37,227 shares of Lakeland Bancorp stock in a transaction on Tuesday, December 19th. The stock was sold at an average price of $20.04, for a total transaction of $746,029.08. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen R. Sr Tilton, Sr. sold 29,501 shares of Lakeland Bancorp stock in a transaction on Friday, December 22nd. The shares were sold at an average price of $19.98, for a total value of $589,429.98. Following the transaction, the director now owns 664,210 shares in the company, valued at $13,270,915.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,742 shares of company stock worth $1,662,872. Company insiders own 6.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc lifted its position in Lakeland Bancorp by 11.9% during the second quarter. Legal & General Group Plc now owns 11,178 shares of the financial services provider’s stock valued at $211,000 after purchasing an additional 1,189 shares in the last quarter. Victory Capital Management Inc. raised its holdings in Lakeland Bancorp by 17.6% during the second quarter. Victory Capital Management Inc. now owns 9,108 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 1,366 shares during the period. California Public Employees Retirement System raised its holdings in Lakeland Bancorp by 1.5% during the second quarter. California Public Employees Retirement System now owns 104,800 shares of the financial services provider’s stock valued at $1,975,000 after acquiring an additional 1,500 shares during the period. Nationwide Fund Advisors raised its holdings in Lakeland Bancorp by 5.7% during the second quarter. Nationwide Fund Advisors now owns 30,396 shares of the financial services provider’s stock valued at $573,000 after acquiring an additional 1,639 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in Lakeland Bancorp by 3.2% during the second quarter. Wells Fargo & Company MN now owns 89,861 shares of the financial services provider’s stock valued at $1,694,000 after acquiring an additional 2,746 shares during the period. Institutional investors own 52.97% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Lakeland Bancorp (NASDAQ:LBAI) Stock Rating Lowered by BidaskClub” was reported by Week Herald and is owned by of Week Herald. If you are reading this news story on another publication, it was copied illegally and republished in violation of international copyright law. The original version of this news story can be viewed at https://weekherald.com/2018/01/10/lakeland-bancorp-lbai-downgraded-by-bidaskclub.html.

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.

Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply