Lakeland Bancorp (NASDAQ:LBAI) Upgraded by StockNews.com to “Hold”

Lakeland Bancorp (NASDAQ:LBAI) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Tuesday.

Separately, Keefe, Bruyette & Woods dropped their price target on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a research report on Tuesday, January 30th.

Lakeland Bancorp Stock Performance

Shares of LBAI opened at $12.60 on Tuesday. Lakeland Bancorp has a 1 year low of $10.65 and a 1 year high of $16.00. The company has a market cap of $820.89 million, a price-to-earnings ratio of 9.84 and a beta of 0.85. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.93 and a current ratio of 0.93. The firm has a fifty day moving average of $11.97 and a 200-day moving average of $12.72.

Lakeland Bancorp (NASDAQ:LBAI) last issued its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. Lakeland Bancorp had a net margin of 16.00% and a return on equity of 7.40%. The business had revenue of $72.09 million for the quarter. As a group, equities analysts anticipate that Lakeland Bancorp will post 1.07 earnings per share for the current year.

Institutional Investors Weigh In On Lakeland Bancorp

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its holdings in Lakeland Bancorp by 4,563.6% during the 4th quarter. Parallel Advisors LLC now owns 2,052 shares of the financial services provider’s stock worth $30,000 after buying an additional 2,008 shares during the period. Lindbrook Capital LLC raised its holdings in Lakeland Bancorp by 4,356.0% during the 4th quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after buying an additional 2,178 shares during the period. Rise Advisors LLC acquired a new stake in Lakeland Bancorp during the 1st quarter worth about $29,000. Signaturefd LLC raised its holdings in Lakeland Bancorp by 212.5% during the 4th quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after buying an additional 1,766 shares during the period. Finally, Private Wealth Management Group LLC acquired a new stake in Lakeland Bancorp during the 4th quarter worth about $47,000. 59.62% of the stock is currently owned by institutional investors.

Lakeland Bancorp Company Profile

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for businesses and consumers. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits. The company also offers lending services, including commercial real estate loans, commercial and industrial loans, short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, residential mortgage loans, small business administration loans, and merchant credit card services; financing solutions to small and medium-sized companies; online banking, mobile banking, and wire transfer services to the business community and municipal relationships; and cash management services, such as remote capture of deposits and overnight sweep repurchase agreements.