ValuEngine lowered shares of Lakeland Bancorp (NASDAQ:LBAI) from a hold rating to a sell rating in a research note published on Wednesday morning.
Other equities research analysts also recently issued reports about the stock. BidaskClub downgraded shares of Lakeland Bancorp from a hold rating to a sell rating in a research report on Wednesday, August 29th. Boenning Scattergood assumed coverage on shares of Lakeland Bancorp in a research report on Monday, September 10th. They issued a neutral rating for the company. Zacks Investment Research downgraded shares of Lakeland Bancorp from a hold rating to a sell rating in a research report on Wednesday, August 1st. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $23.50 price target on shares of Lakeland Bancorp in a research report on Wednesday, August 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. Lakeland Bancorp has an average rating of Hold and a consensus target price of $21.17.
Shares of LBAI stock opened at $18.65 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market cap of $895.10 million, a price-to-earnings ratio of 16.80 and a beta of 0.81. Lakeland Bancorp has a 12-month low of $18.05 and a 12-month high of $21.90.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in LBAI. Royal Bank of Canada raised its position in shares of Lakeland Bancorp by 200.8% in the first quarter. Royal Bank of Canada now owns 6,453 shares of the financial services provider’s stock valued at $128,000 after buying an additional 4,308 shares in the last quarter. Strs Ohio acquired a new stake in shares of Lakeland Bancorp in the second quarter valued at approximately $168,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of Lakeland Bancorp in the first quarter valued at approximately $199,000. Xact Kapitalforvaltning AB raised its position in shares of Lakeland Bancorp by 30.2% in the first quarter. Xact Kapitalforvaltning AB now owns 13,353 shares of the financial services provider’s stock valued at $265,000 after buying an additional 3,100 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Lakeland Bancorp in the first quarter valued at approximately $300,000. Institutional investors own 54.47% 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 individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.
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