Lakeland Bancorp, Inc. (NASDAQ:LBAI) Stake Boosted by Gateway Advisory LLC

Gateway Advisory LLC increased its stake in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 0.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 93,007 shares of the financial services provider’s stock after purchasing an additional 784 shares during the period. Gateway Advisory LLC owned 0.14% of Lakeland Bancorp worth $1,245,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Point72 Hong Kong Ltd bought a new stake in Lakeland Bancorp in the first quarter valued at $48,000. Advisor Group Holdings Inc. lifted its position in Lakeland Bancorp by 335.6% in the 1st 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. HM Payson & Co. boosted its stake in Lakeland Bancorp by 66.7% during the 2nd quarter. HM Payson & Co. now owns 5,000 shares of the financial services provider’s stock valued at $67,000 after purchasing an additional 2,000 shares during the period. Great West Life Assurance Co. Can grew its position in Lakeland Bancorp by 26.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,169 shares of the financial services provider’s stock worth $73,000 after purchasing an additional 863 shares during the last quarter. Finally, Ameritas Investment Partners Inc. increased its stake in shares of Lakeland Bancorp by 24.8% in the first quarter. Ameritas Investment Partners Inc. now owns 4,784 shares of the financial services provider’s stock valued at $80,000 after purchasing an additional 950 shares during the period. Institutional investors and hedge funds own 59.84% of the company’s stock.

Lakeland Bancorp Price Performance

Shares of NASDAQ LBAI traded up $0.17 during mid-day trading on Friday, reaching $12.80. 211,618 shares of the company traded hands, compared to its average volume of 241,942. Lakeland Bancorp, Inc. has a fifty-two week low of $10.65 and a fifty-two week high of $20.02. The firm has a market cap of $832.38 million, a PE ratio of 8.59 and a beta of 0.85. The stock has a fifty day simple moving average of $12.23 and a 200-day simple moving average of $13.32. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.92 and a quick ratio of 0.92.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings results on Thursday, October 26th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.01. Lakeland Bancorp had a return on equity of 8.74% and a net margin of 19.84%. The company had revenue of $131.96 million for the quarter. During the same quarter last year, the business posted $0.48 earnings per share. Equities research analysts anticipate that Lakeland Bancorp, Inc. will post 1.3 EPS for the current fiscal year.

Lakeland Bancorp Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 16th. Stockholders of record on Monday, November 6th were given a dividend of $0.145 per share. The ex-dividend date was Friday, November 3rd. This represents a $0.58 annualized dividend and a dividend yield of 4.53%. Lakeland Bancorp’s dividend payout ratio (DPR) is 38.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. TheStreet lowered Lakeland Bancorp from a “b-” rating to a “c+” rating in a report on Monday, November 13th. StockNews.com began coverage on Lakeland Bancorp in a research note on Thursday, October 5th. They issued a “sell” rating for the company.

Lakeland Bancorp Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that offers various banking products and services for individuals and small to medium sized businesses. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits.