Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director James E. Hanson II sold 1,225 shares of the stock in a transaction dated Tuesday, November 6th. The stock was sold at an average price of $16.53, for a total transaction of $20,249.25. Following the completion of the transaction, the director now directly owns 1,085 shares of the company’s stock, valued at approximately $17,935.05. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

NASDAQ LBAI traded down $0.10 during trading hours on Thursday, reaching $16.43. The company’s stock had a trading volume of 8,900 shares, compared to its average volume of 115,870. The firm has a market cap of $783.51 million, a PE ratio of 14.80 and a beta of 0.89. Lakeland Bancorp, Inc. has a 52 week low of $15.57 and a 52 week high of $21.90. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.96.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.35 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.35. The business had revenue of $49.26 million during the quarter, compared to analyst estimates of $50.39 million. Lakeland Bancorp had a net margin of 26.69% and a return on equity of 10.45%. As a group, research analysts anticipate that Lakeland Bancorp, Inc. will post 1.35 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 5th will be issued a $0.115 dividend. The ex-dividend date of this dividend is Friday, November 2nd. This represents a $0.46 dividend on an annualized basis and a yield of 2.80%. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 41.44%.

A number of research firms have recently commented on LBAI. BidaskClub cut shares of Lakeland Bancorp from a “sell” rating to a “strong sell” rating in a report on Saturday, September 22nd. Zacks Investment Research cut shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Boenning Scattergood assumed coverage on shares of Lakeland Bancorp in a report on Monday, September 10th. They issued a “neutral” rating for the company. Finally, Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.50 price objective on shares of Lakeland Bancorp in a report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $19.88.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada raised its holdings in Lakeland Bancorp by 200.8% in the 1st 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 during the last quarter. Strs Ohio acquired a new stake in Lakeland Bancorp during the 2nd quarter valued at approximately $168,000. Xact Kapitalforvaltning AB increased its position in Lakeland Bancorp by 30.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,353 shares of the financial services provider’s stock valued at $265,000 after purchasing an additional 3,100 shares during the period. Engineers Gate Manager LP acquired a new stake in Lakeland Bancorp during the 3rd quarter valued at approximately $305,000. Finally, Victory Capital Management Inc. increased its position in Lakeland Bancorp by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 19,294 shares of the financial services provider’s stock valued at $383,000 after purchasing an additional 2,648 shares during the period. Institutional investors and hedge funds own 54.75% of the company’s stock.

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About Lakeland Bancorp

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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