Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Robert E. Mccracken bought 3,500 shares of the stock in a transaction that occurred on Thursday, July 30th. The stock was purchased at an average price of $10.29 per share, for a total transaction of $36,015.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

NASDAQ LBAI opened at $10.35 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.95 and a quick ratio of 0.95. The firm has a market capitalization of $535.41 million, a price-to-earnings ratio of 8.77 and a beta of 1.02. The company’s fifty day moving average is $10.70 and its two-hundred day moving average is $12.35. Lakeland Bancorp, Inc. has a 52-week low of $8.31 and a 52-week high of $17.63.

Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Friday, July 24th. The financial services provider reported $0.23 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.03). Lakeland Bancorp had a net margin of 21.99% and a return on equity of 8.53%. The business had revenue of $56.00 million for the quarter, compared to analyst estimates of $56.53 million. As a group, sell-side analysts expect that Lakeland Bancorp, Inc. will post 1.04 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 17th. Stockholders of record on Monday, August 3rd will be given a dividend of $0.125 per share. The ex-dividend date is Friday, July 31st. This represents a $0.50 annualized dividend and a dividend yield of 4.83%. Lakeland Bancorp’s dividend payout ratio (DPR) is currently 34.97%.

Several institutional investors have recently modified their holdings of the company. First Republic Investment Management Inc. boosted its position in shares of Lakeland Bancorp by 4.3% during the 4th quarter. First Republic Investment Management Inc. now owns 18,021 shares of the financial services provider’s stock valued at $313,000 after acquiring an additional 739 shares in the last quarter. Swiss National Bank boosted its position in shares of Lakeland Bancorp by 1.4% during the 1st quarter. Swiss National Bank now owns 93,085 shares of the financial services provider’s stock valued at $1,006,000 after acquiring an additional 1,300 shares in the last quarter. Meeder Asset Management Inc. boosted its position in shares of Lakeland Bancorp by 366.2% during the 1st quarter. Meeder Asset Management Inc. now owns 2,331 shares of the financial services provider’s stock valued at $25,000 after acquiring an additional 1,831 shares in the last quarter. Private Advisor Group LLC boosted its position in shares of Lakeland Bancorp by 6.6% during the 1st quarter. Private Advisor Group LLC now owns 35,428 shares of the financial services provider’s stock valued at $383,000 after acquiring an additional 2,183 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in shares of Lakeland Bancorp by 11.8% during the 1st quarter. GSA Capital Partners LLP now owns 20,776 shares of the financial services provider’s stock valued at $225,000 after acquiring an additional 2,186 shares in the last quarter. Institutional investors and hedge funds own 57.65% of the company’s stock.

A number of research analysts recently issued reports on the stock. Raymond James upgraded shares of Lakeland Bancorp from a “market perform” rating to an “outperform” rating in a research note on Wednesday, June 17th. Zacks Investment Research lowered shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research note on Tuesday, July 21st. ValuEngine lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, April 2nd. BidaskClub lowered shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Saturday, June 20th. Finally, Piper Sandler upgraded shares of Lakeland Bancorp from a “neutral” rating to an “overweight” rating in a research report on Friday, May 1st. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $15.00.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking 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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