DA Davidson Comments on Lakeland Bancorp, Inc.’s Q1 2024 Earnings (NASDAQ:LBAI)

Lakeland Bancorp, Inc. (NASDAQ:LBAIFree Report) – Stock analysts at DA Davidson issued their Q1 2024 earnings per share estimates for shares of Lakeland Bancorp in a report issued on Tuesday, February 6th. DA Davidson analyst M. Navas anticipates that the financial services provider will post earnings of $0.26 per share for the quarter. The consensus estimate for Lakeland Bancorp’s current full-year earnings is $1.07 per share. DA Davidson also issued estimates for Lakeland Bancorp’s FY2024 earnings at $1.07 EPS and FY2025 earnings at $1.15 EPS.

A number of other equities research analysts have also recently weighed in on LBAI. TheStreet cut Lakeland Bancorp from a “b-” rating to a “c+” rating in a report on Monday, November 13th. Keefe, Bruyette & Woods lowered their price objective on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a research note on Tuesday, January 30th.

Get Our Latest Stock Analysis on LBAI

Lakeland Bancorp Stock Up 0.2 %

LBAI opened at $11.81 on Wednesday. Lakeland Bancorp has a 52 week low of $10.65 and a 52 week high of $20.00. The business has a 50 day moving average price of $14.02 and a two-hundred day moving average price of $13.34. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.46. The company has a market cap of $768.00 million, a PE ratio of 9.23 and a beta of 0.89.

Lakeland Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 15th. Stockholders of record on Monday, February 5th will be given a $0.145 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a $0.58 dividend on an annualized basis and a dividend yield of 4.91%. Lakeland Bancorp’s payout ratio is currently 45.31%.

Institutional Trading of Lakeland Bancorp

A number of large investors have recently modified their holdings of LBAI. Advisor Group Holdings Inc. increased its stake in shares of Lakeland Bancorp by 335.6% during the 1st quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,463 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Lakeland Bancorp by 18.7% during the 1st quarter. Bank of New York Mellon Corp now owns 341,162 shares of the financial services provider’s stock worth $5,698,000 after acquiring an additional 53,844 shares during the period. HighTower Advisors LLC bought a new position in shares of Lakeland Bancorp during the 1st quarter worth about $865,000. MetLife Investment Management LLC lifted its holdings in shares of Lakeland Bancorp by 93.5% during the 1st quarter. MetLife Investment Management LLC now owns 32,726 shares of the financial services provider’s stock worth $547,000 after acquiring an additional 15,810 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Lakeland Bancorp by 4.7% during the 1st quarter. Rhumbline Advisers now owns 75,766 shares of the financial services provider’s stock worth $1,265,000 after acquiring an additional 3,389 shares during the period. Institutional investors and hedge funds own 59.84% of the company’s stock.

About Lakeland Bancorp

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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.

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