Lakeland Bancorp Inc. (NASDAQ:LBAI) has been given an average broker rating score of 2.00 (Buy) from the two analysts that provide coverage for the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a buy recommendation.
Brokerages have set a 1 year consensus price target of $13.00 for the company and are expecting that the company will post $0.26 EPS for the current quarter, according to Zacks. Zacks has also assigned Lakeland Bancorp an industry rank of 168 out of 265 based on the ratings given to its competitors.
Lakeland Bancorp (NASDAQ:LBAI) opened at 13.85 on Thursday. The stock has a market cap of $615.51 million, a price-to-earnings ratio of 15.97 and a beta of 0.97. The firm’s 50-day moving average price is $13.65 and its 200 day moving average price is $12.00. Lakeland Bancorp has a 12 month low of $9.72 and a 12 month high of $14.13.
Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Friday, July 22nd. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.02. Lakeland Bancorp had a return on equity of 9.06% and a net margin of 21.18%. On average, analysts anticipate that Lakeland Bancorp will post $0.99 earnings per share for the current year.
In other news, Director Edward B. Deutsch sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 12th. The stock was sold at an average price of $13.00, for a total transaction of $65,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 7.30% of the stock is owned by company insiders.
Several institutional investors have recently added to or reduced their stakes in LBAI. Prudential Financial Inc. increased its position in Lakeland Bancorp by 6.3% in the first quarter. Prudential Financial Inc. now owns 110,806 shares of the financial services provider’s stock valued at $1,125,000 after buying an additional 6,600 shares in the last quarter. JPMorgan Chase & Co. increased its position in Lakeland Bancorp by 0.9% in the first quarter. JPMorgan Chase & Co. now owns 111,349 shares of the financial services provider’s stock valued at $1,130,000 after buying an additional 953 shares in the last quarter. Acrospire Investment Management LLC bought a new position in Lakeland Bancorp during the first quarter valued at $271,000. Geode Capital Management LLC increased its position in Lakeland Bancorp by 6.7% in the first quarter. Geode Capital Management LLC now owns 246,946 shares of the financial services provider’s stock valued at $2,506,000 after buying an additional 15,587 shares in the last quarter. Finally, Kennedy Capital Management Inc. bought a new position in Lakeland Bancorp during the first quarter valued at $2,029,000. 41.10% of the stock is currently owned by hedge funds and other institutional investors.
About Lakeland Bancorp
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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