Dimensional Fund Advisors LP increased its position in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 6.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,030,179 shares of the financial services provider’s stock after buying an additional 120,939 shares during the period. Dimensional Fund Advisors LP’s holdings in Lakeland Bancorp were worth $39,588,000 as of its most recent filing with the SEC.
A number of other large investors also recently made changes to their positions in LBAI. State Street Corp raised its stake in shares of Lakeland Bancorp by 10.2% in the fourth quarter. State Street Corp now owns 696,912 shares of the financial services provider’s stock worth $13,589,000 after buying an additional 64,465 shares during the last quarter. Russell Investments Group Ltd. bought a new stake in shares of Lakeland Bancorp during the fourth quarter worth $3,684,000. Brown Brothers Harriman & Co. bought a new stake in shares of Lakeland Bancorp during the third quarter worth $702,000. Swiss National Bank raised its stake in shares of Lakeland Bancorp by 6.1% in the third quarter. Swiss National Bank now owns 69,885 shares of the financial services provider’s stock worth $981,000 after buying an additional 4,000 shares during the last quarter. Finally, Prudential Financial Inc. raised its stake in shares of Lakeland Bancorp by 12.4% in the third quarter. Prudential Financial Inc. now owns 137,436 shares of the financial services provider’s stock worth $1,930,000 after buying an additional 15,130 shares during the last quarter. Institutional investors own 40.90% of the company’s stock.
Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) opened at 18.80 on Monday. The company’s 50-day moving average is $19.72 and its 200-day moving average is $17.15. The company has a market cap of $889.77 million, a price-to-earnings ratio of 19.79 and a beta of 0.81. Lakeland Bancorp, Inc. has a one year low of $10.04 and a one year high of $20.88.
Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Thursday, January 26th. The financial services provider reported $0.26 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.26. 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 EPS for the current year.
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A number of equities research analysts recently weighed in on the stock. Zacks Investment Research upgraded shares of Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Monday, January 30th. FIG Partners assumed coverage on shares of Lakeland Bancorp in a report on Thursday, January 5th. They set a “market perform” rating for the company.
In other news, insider Robert A. Vandenbergh sold 10,000 shares of the company’s stock in a transaction on Friday, February 24th. The shares were sold at an average price of $19.32, for a total transaction of $193,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joseph Hurley sold 7,940 shares of the company’s stock in a transaction on Monday, March 20th. The stock was sold at an average price of $19.78, for a total transaction of $157,053.20. The disclosure for this sale can be found here. Insiders have sold 55,328 shares of company stock valued at $1,088,927 in the last ninety days. Insiders own 7.30% of the company’s stock.
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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