Sterling Financial Planning Inc. Sells 1,300 Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Sterling Financial Planning Inc. reduced its stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 63,101 shares of the financial services provider’s stock after selling 1,300 shares during the period. Sterling Financial Planning Inc. owned approximately 0.10% of Lakeland Bancorp worth $933,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its stake in Lakeland Bancorp by 14.4% during the third quarter. BlackRock Inc. now owns 6,155,805 shares of the financial services provider’s stock valued at $98,555,000 after buying an additional 773,060 shares during the period. Vanguard Group Inc. boosted its stake in Lakeland Bancorp by 26.4% during the first quarter. Vanguard Group Inc. now owns 3,600,914 shares of the financial services provider’s stock valued at $60,135,000 after buying an additional 751,881 shares during the period. State Street Corp boosted its stake in Lakeland Bancorp by 30.0% during the first quarter. State Street Corp now owns 1,742,685 shares of the financial services provider’s stock valued at $29,103,000 after buying an additional 402,583 shares during the period. Dimensional Fund Advisors LP boosted its stake in Lakeland Bancorp by 12.5% during the first quarter. Dimensional Fund Advisors LP now owns 3,486,344 shares of the financial services provider’s stock valued at $58,223,000 after buying an additional 387,300 shares during the period. Finally, Millennium Management LLC bought a new stake in Lakeland Bancorp during the fourth quarter valued at $5,144,000. 59.62% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on LBAI. Keefe, Bruyette & Woods lowered their price target on Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a research report on Tuesday, January 30th. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Friday, April 12th.

Lakeland Bancorp Price Performance

NASDAQ LBAI traded up $0.10 during trading hours on Thursday, reaching $11.36. 287,551 shares of the stock traded hands, compared to its average volume of 299,115. The stock has a 50 day simple moving average of $11.98 and a two-hundred day simple moving average of $12.72. Lakeland Bancorp, Inc. has a 1 year low of $10.65 and a 1 year high of $16.00. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.93 and a quick ratio of 0.93. The company has a market cap of $740.10 million, a price-to-earnings ratio of 8.88 and a beta of 0.85.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, hitting the consensus estimate of $0.30. The firm had revenue of $72.09 million for the quarter. Lakeland Bancorp had a return on equity of 7.43% and a net margin of 16.42%. On average, analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 15th. Stockholders of record on Monday, February 5th were issued a $0.145 dividend. The ex-dividend date was Friday, February 2nd. This represents a $0.58 annualized dividend and a dividend yield of 5.11%. Lakeland Bancorp’s dividend payout ratio is currently 45.31%.

Lakeland Bancorp 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.