Lakeland Bancorp, Inc. (NASDAQ:LBAI) has received a consensus rating of “Hold” from the six brokerages that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $20.75.

A number of brokerages have recently commented on LBAI. BidaskClub upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Roth Capital set a $18.00 price target on Lakeland Bancorp and gave the company a “buy” rating in a report on Tuesday, May 8th. ValuEngine lowered Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered Lakeland Bancorp from a “hold” rating to a “sell” rating in a report on Wednesday, August 1st. Finally, Keefe, Bruyette & Woods restated a “buy” rating and issued a $23.50 price target on shares of Lakeland Bancorp in a report on Wednesday, August 1st.

LBAI stock opened at $19.30 on Friday. The company has a debt-to-equity ratio of 0.50, a quick ratio of 0.96 and a current ratio of 0.96. The stock has a market cap of $914.09 million, a price-to-earnings ratio of 17.39 and a beta of 0.83. Lakeland Bancorp has a 1-year low of $15.06 and a 1-year high of $21.90.

Lakeland Bancorp (NASDAQ:LBAI) last posted its earnings results on Thursday, July 26th. The financial services provider reported $0.33 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.33. The firm had revenue of $49.20 million for the quarter, compared to analyst estimates of $49.07 million. Lakeland Bancorp had a return on equity of 9.99% and a net margin of 26.02%. analysts predict that Lakeland Bancorp will post 1.34 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 15th. Stockholders of record on Monday, August 6th were issued a $0.115 dividend. The ex-dividend date of this dividend was Friday, August 3rd. This represents a $0.46 dividend on an annualized basis and a dividend yield of 2.38%. Lakeland Bancorp’s dividend payout ratio (DPR) is 41.44%.

Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. lifted its holdings in shares of Lakeland Bancorp by 15.9% in the second 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 in the last quarter. First Republic Investment Management Inc. lifted its holdings in shares of Lakeland Bancorp by 9.1% in the first quarter. First Republic Investment Management Inc. now owns 37,102 shares of the financial services provider’s stock valued at $736,000 after purchasing an additional 3,095 shares in the last quarter. Xact Kapitalforvaltning AB lifted its holdings 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 purchasing an additional 3,100 shares in the last quarter. Swiss National Bank lifted its holdings in shares of Lakeland Bancorp by 4.7% in the first quarter. Swiss National Bank now owns 78,285 shares of the financial services provider’s stock valued at $1,554,000 after purchasing an additional 3,500 shares in the last quarter. Finally, Royal Bank of Canada lifted its holdings 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 purchasing an additional 4,308 shares in the last quarter. Institutional investors own 54.75% 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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