Strs Ohio acquired a new position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,500 shares of the financial services provider’s stock, valued at approximately $168,000.

Several other institutional investors have also bought and sold shares of the company. Biondo Investment Advisors LLC acquired a new position in shares of Lakeland Bancorp during the 2nd quarter worth about $1,032,000. Victory Capital Management Inc. boosted its stake in shares of Lakeland Bancorp by 15.9% during the 2nd quarter. Victory Capital Management Inc. now owns 19,294 shares of the financial services provider’s stock worth $383,000 after buying an additional 2,648 shares during the last quarter. First Trust Advisors LP boosted its stake in shares of Lakeland Bancorp by 70.5% during the 2nd quarter. First Trust Advisors LP now owns 145,721 shares of the financial services provider’s stock worth $2,893,000 after buying an additional 60,261 shares during the last quarter. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Lakeland Bancorp during the 2nd quarter worth about $392,000. Finally, Kaizen Advisory LLC boosted its stake in shares of Lakeland Bancorp by 299.3% during the 2nd quarter. Kaizen Advisory LLC now owns 55,389 shares of the financial services provider’s stock worth $1,099,000 after buying an additional 41,516 shares during the last quarter. Institutional investors own 54.47% of the company’s stock.

A number of equities analysts have recently commented on LBAI shares. BidaskClub upgraded shares of Lakeland Bancorp from a “hold” rating to a “buy” rating in a research note on Monday, May 21st. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $23.50 target price on shares of Lakeland Bancorp in a research note on Wednesday, August 1st. Zacks Investment Research downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, August 1st. Boenning Scattergood started coverage on shares of Lakeland Bancorp in a research note on Monday, September 10th. They issued a “neutral” rating for the company. Finally, ValuEngine downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. Lakeland Bancorp presently has a consensus rating of “Hold” and a consensus target price of $21.17.

Shares of NASDAQ:LBAI opened at $18.65 on Friday. Lakeland Bancorp, Inc. has a 52-week low of $18.05 and a 52-week high of $21.90. The stock has a market capitalization of $895.10 million, a P/E ratio of 15.32 and a beta of 0.81. The company has a debt-to-equity ratio of 0.50, a current ratio of 0.96 and a quick ratio of 0.96.

Lakeland Bancorp (NASDAQ:LBAI) last issued its earnings results on Thursday, July 26th. The financial services provider reported $0.33 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.33. Lakeland Bancorp had a net margin of 26.02% and a return on equity of 9.99%. The business had revenue of $49.20 million during the quarter, compared to the consensus estimate of $49.07 million. sell-side analysts expect that Lakeland Bancorp, Inc. will post 1.34 EPS for the current year.

Lakeland Bancorp 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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Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

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