Meridian Wealth Partners LLC Takes Position in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Meridian Wealth Partners LLC bought a new stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 11,685 shares of the financial services provider’s stock, valued at approximately $173,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC lifted its position in Lakeland Bancorp by 4,356.0% in the fourth quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 2,178 shares during the period. Signaturefd LLC increased its position in Lakeland Bancorp by 212.5% in the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,766 shares during the period. Quantbot Technologies LP acquired a new stake in Lakeland Bancorp in the third quarter worth about $64,000. Ibex Wealth Advisors bought a new position in Lakeland Bancorp during the third quarter worth about $168,000. Finally, Aigen Investment Management LP boosted its holdings in Lakeland Bancorp by 31.5% during the third quarter. Aigen Investment Management LP now owns 14,690 shares of the financial services provider’s stock worth $185,000 after buying an additional 3,518 shares during the last quarter. Institutional investors and hedge funds own 59.62% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on LBAI shares. Keefe, Bruyette & Woods lowered their price target on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a research report on Tuesday, April 23rd. StockNews.com raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd.

Lakeland Bancorp Price Performance

Shares of LBAI stock traded up $0.08 on Friday, hitting $12.52. 227,962 shares of the company’s stock were exchanged, compared to its average volume of 461,754. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. Lakeland Bancorp, Inc. has a 12 month low of $10.65 and a 12 month high of $16.00. The stock has a market cap of $815.68 million, a P/E ratio of 9.78 and a beta of 0.85. The company has a 50 day moving average of $11.98 and a 200 day moving average of $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.30. The business had revenue of $72.09 million during the quarter. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. On average, equities research analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current year.

Lakeland Bancorp Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be paid a $0.145 dividend. The ex-dividend date of this dividend is Friday, April 26th. This represents a $0.58 annualized dividend and a dividend yield of 4.63%. Lakeland Bancorp’s payout ratio is 45.31%.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.