Lakeland Bancorp, Inc. (NASDAQ:LBAI) Short Interest Update
Lakeland Bancorp, Inc. (NASDAQ:LBAI) was the target of a large growth in short interest in June. As of June 30th, there was short interest totalling 1,013,400 shares, a growth of 8.9% from the May 30th total of 930,500 shares. Currently, 2.2% of the shares of the stock are short sold. Based on an average daily volume of 141,700 shares, the days-to-cover ratio is currently 7.2 days.
LBAI stock traded down $0.29 during mid-day trading on Monday, hitting $16.03. 68,111 shares of the company were exchanged, compared to its average volume of 129,307. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.46. The company has a market cap of $823.20 million, a price-to-earnings ratio of 11.96 and a beta of 0.89. The business has a 50 day simple moving average of $15.88. Lakeland Bancorp has a 1-year low of $13.77 and a 1-year high of $20.85.
Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Monday, April 29th. The financial services provider reported $0.31 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.31. The firm had revenue of $54.33 million during the quarter, compared to analysts’ expectations of $53.67 million. Lakeland Bancorp had a net margin of 25.63% and a return on equity of 10.34%. On average, equities research analysts forecast that Lakeland Bancorp will post 1.43 EPS for the current fiscal year.
Several research firms have commented on LBAI. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. FIG Partners reaffirmed an “outperform” rating on shares of Lakeland Bancorp in a report on Monday, May 6th. ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Tuesday, April 30th. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a report on Friday, June 28th. Finally, Boenning Scattergood reissued a “buy” rating and issued a $74.00 price target on shares of Argo Group in a report on Tuesday, April 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $20.13.
Lakeland Bancorp Company Profile
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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