HBK Sorce Advisory LLC Takes Position in Lake Shore Bancorp, Inc. $LSBK

HBK Sorce Advisory LLC bought a new stake in shares of Lake Shore Bancorp, Inc. (NASDAQ:LSBK) during the 2nd quarter, HoldingsChannel reports. The firm bought 85,173 shares of the savings and loans company’s stock, valued at approximately $1,454,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LSBK. Marquette Asset Management LLC purchased a new stake in shares of Lake Shore Bancorp during the second quarter worth about $172,000. Royal Bank of Canada purchased a new position in Lake Shore Bancorp in the first quarter valued at about $63,000. Dimensional Fund Advisors LP boosted its holdings in Lake Shore Bancorp by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 45,709 shares of the savings and loans company’s stock valued at $694,000 after purchasing an additional 650 shares during the last quarter. Bridgeway Capital Management LLC grew its stake in Lake Shore Bancorp by 12.5% during the 4th quarter. Bridgeway Capital Management LLC now owns 12,568 shares of the savings and loans company’s stock valued at $184,000 after purchasing an additional 1,400 shares in the last quarter. Finally, Mangrove Partners IM LLC grew its stake in Lake Shore Bancorp by 2.0% during the 4th quarter. Mangrove Partners IM LLC now owns 150,585 shares of the savings and loans company’s stock valued at $2,208,000 after purchasing an additional 2,937 shares in the last quarter. 8.75% of the stock is owned by institutional investors and hedge funds.

Lake Shore Bancorp Stock Performance

Shares of Lake Shore Bancorp stock opened at $17.16 on Monday. Lake Shore Bancorp, Inc. has a 1 year low of $12.50 and a 1 year high of $17.96. The firm’s 50-day simple moving average is $16.94 and its 200-day simple moving average is $16.04. The firm has a market cap of $134.71 million, a PE ratio of 15.19 and a beta of 0.29.

Lake Shore Bancorp (NASDAQ:LSBK) last posted its quarterly earnings results on Wednesday, July 22nd. The savings and loans company reported $0.29 EPS for the quarter. The business had revenue of $7.64 million during the quarter. Lake Shore Bancorp had a return on equity of 5.91% and a net margin of 20.74%.

Lake Shore Bancorp Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 12th. Shareholders of record on Monday, August 3rd were issued a dividend of $0.09 per share. This represents a $0.36 dividend on an annualized basis and a yield of 2.1%. The ex-dividend date of this dividend was Monday, August 3rd. Lake Shore Bancorp’s dividend payout ratio (DPR) is currently 31.86%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Lake Shore Bancorp from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, July 16th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

About Lake Shore Bancorp

Lake Shore Bancorp, Inc operates as a savings and loan holding company for Lake Shore Servings Bank. It offers personal services such as checking, savings, lending, banking, debit card, e-services, and online banking; and business services including deposit products, commercial loans, and business e-statements. The company was founded in 2006 and is headquartered in Dunkirk, NY.