Federated Investors Inc. PA increased its position in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 70.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,840 shares of the financial services provider’s stock after buying an additional 10,290 shares during the period. Federated Investors Inc. PA owned approximately 0.05% of Lakeland Bancorp worth $484,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Great West Life Assurance Co. Can bought a new position in shares of Lakeland Bancorp during the third quarter worth approximately $104,000. Verus Financial Partners Inc. increased its position in shares of Lakeland Bancorp by 0.7% in the third quarter. Verus Financial Partners Inc. now owns 14,065 shares of the financial services provider’s stock worth $197,000 after buying an additional 102 shares in the last quarter. UBS Asset Management Americas Inc. increased its position in shares of Lakeland Bancorp by 3.9% in the third quarter. UBS Asset Management Americas Inc. now owns 29,220 shares of the financial services provider’s stock worth $410,000 after buying an additional 1,100 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in shares of Lakeland Bancorp during the third quarter worth approximately $702,000. Finally, Wells Fargo & Company MN increased its position in shares of Lakeland Bancorp by 0.5% in the third quarter. Wells Fargo & Company MN now owns 61,277 shares of the financial services provider’s stock worth $861,000 after buying an additional 276 shares in the last quarter. Institutional investors and hedge funds own 40.90% of the company’s stock.
Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) traded up 0.26% during midday trading on Friday, hitting $19.20. 181,709 shares of the stock traded hands. Lakeland Bancorp, Inc. has a 52-week low of $10.62 and a 52-week high of $20.88. The company has a market cap of $908.70 million, a price-to-earnings ratio of 20.21 and a beta of 0.81. The stock has a 50-day moving average of $19.44 and a 200-day moving average of $17.88.
Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Thursday, January 26th. The financial services provider reported $0.26 EPS for the quarter, hitting analysts’ consensus estimates of $0.26. The firm earned $43.34 million during the quarter, compared to the consensus estimate of $44.32 million. Lakeland Bancorp had a net margin of 22.49% and a return on equity of 9.39%. On average, equities analysts predict that Lakeland Bancorp, Inc. will post $1.06 earnings per share for the current fiscal year.
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Several equities research analysts have recently weighed in on the stock. FIG Partners assumed coverage on shares of Lakeland Bancorp in a research report on Thursday, January 5th. They issued a “market perform” rating for the company. Zacks Investment Research cut shares of Lakeland Bancorp from a “buy” rating to a “hold” rating in a research report on Tuesday, March 28th.
In other Lakeland Bancorp news, Director Bruce D. Bohuny sold 5,080 shares of the firm’s stock in a transaction on Wednesday, February 22nd. The stock was sold at an average price of $20.06, for a total value of $101,904.80. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert A. Vandenbergh sold 10,000 shares of the firm’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $19.32, for a total value of $193,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,328 shares of company stock valued at $1,088,927. 7.30% of the stock is currently owned by corporate insiders.
Lakeland Bancorp Company Profile
Lakeland Bancorp, Inc is the bank holding company for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
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