Lakeland Bancorp (NASDAQ:LBAI) Coverage Initiated by Analysts at StockNews.com

Analysts at StockNews.com initiated coverage on shares of Lakeland Bancorp (NASDAQ:LBAI – Get Rating) in a research report issued on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

Separately, Keefe, Bruyette & Woods decreased their price target on shares of Lakeland Bancorp from $22.50 to $20.80 and set a “market perform” rating for the company in a report on Thursday, April 6th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, Lakeland Bancorp presently has an average rating of “Hold” and a consensus price target of $18.60.

Lakeland Bancorp Price Performance

Shares of LBAI stock opened at $13.02 on Friday. Lakeland Bancorp has a 1-year low of $11.89 and a 1-year high of $20.02. The firm has a fifty day moving average of $14.62 and a two-hundred day moving average of $17.16. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.88 and a quick ratio of 0.88. The firm has a market cap of $846.56 million, a P/E ratio of 7.70 and a beta of 0.81.

Insider Activity at Lakeland Bancorp

In other news, Director James E. Hanson II acquired 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were purchased at an average cost of $19.07 per share, for a total transaction of $26,698.00. Following the transaction, the director now directly owns 31,199 shares in the company, valued at approximately $594,964.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director James E. Hanson II acquired 1,400 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were purchased at an average cost of $19.07 per share, for a total transaction of $26,698.00. Following the transaction, the director now directly owns 31,199 shares in the company, valued at approximately $594,964.93. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Brian Gragnolati acquired 4,355 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was purchased at an average price of $17.15 per share, for a total transaction of $74,688.25. Following the completion of the transaction, the director now owns 28,203 shares in the company, valued at $483,681.45. The disclosure for this purchase can be found here. 4.72% of the stock is currently owned by insiders.

Institutional Trading of Lakeland Bancorp

Hedge funds and other institutional investors have recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of Lakeland Bancorp by 198.2% during the 3rd quarter. US Bancorp DE now owns 1,801 shares of the financial services provider’s stock worth $29,000 after buying an additional 1,197 shares in the last quarter. Point72 Hong Kong Ltd acquired a new stake in Lakeland Bancorp during the first quarter valued at approximately $48,000. Advisor Group Holdings Inc. lifted its stake in Lakeland Bancorp by 335.6% during the first quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock valued at $54,000 after purchasing an additional 2,463 shares during the last quarter. Dark Forest Capital Management LP acquired a new stake in Lakeland Bancorp during the fourth quarter valued at approximately $72,000. Finally, Great West Life Assurance Co. Can lifted its stake in Lakeland Bancorp by 26.1% during the first quarter. Great West Life Assurance Co. Can now owns 4,169 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 863 shares during the last quarter. 57.71% of the stock is currently owned by institutional investors.

About Lakeland Bancorp

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Lakeland Bancorp, Inc is a bank holding company, which engages in the provision of lending, depository, and related financial services. Its consumer banking services include checking accounts, savings accounts, interest-bearing checking accounts, money market accounts, certificates of deposit, internet banking, secured and unsecured loans, consumer installment loans, mortgage loans, and safe deposit services.