Keefe, Bruyette & Woods Lowers Lakeland Bancorp (NASDAQ:LBAI) Price Target to $14.15

Lakeland Bancorp (NASDAQ:LBAI) had its price objective dropped by stock analysts at Keefe, Bruyette & Woods from $16.65 to $14.15 in a research report issued on Tuesday, Benzinga reports. The firm presently has a “market perform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price target indicates a potential upside of 10.20% from the stock’s current price.

Separately, StockNews.com raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a research note on Tuesday.

Lakeland Bancorp Trading Down 0.1 %

Shares of NASDAQ:LBAI opened at $12.84 on Tuesday. The company’s fifty day simple moving average is $11.98 and its 200 day simple moving average is $12.72. Lakeland Bancorp has a 12 month low of $10.65 and a 12 month high of $16.00. The firm has a market cap of $836.58 million, a price-to-earnings ratio of 10.03 and a beta of 0.85. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44.

Lakeland Bancorp (NASDAQ:LBAI) last released its earnings results on Thursday, January 25th. The financial services provider reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $72.09 million for the quarter. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. As a group, research analysts forecast that Lakeland Bancorp will post 1.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Lakeland Bancorp

Several large investors have recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in Lakeland Bancorp by 1.0% in the 3rd quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock worth $45,578,000 after purchasing an additional 34,769 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Lakeland Bancorp by 10.9% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 698,704 shares of the financial services provider’s stock worth $10,334,000 after buying an additional 68,563 shares in the last quarter. American Century Companies Inc. boosted its stake in Lakeland Bancorp by 12.5% in the third quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider’s stock worth $7,779,000 after buying an additional 68,593 shares in the last quarter. AQR Arbitrage LLC grew its position in Lakeland Bancorp by 2.4% during the third quarter. AQR Arbitrage LLC now owns 509,266 shares of the financial services provider’s stock valued at $6,427,000 after acquiring an additional 12,025 shares during the last quarter. Finally, Alpine Associates Management Inc. raised its stake in shares of Lakeland Bancorp by 0.7% during the fourth quarter. Alpine Associates Management Inc. now owns 508,624 shares of the financial services provider’s stock worth $7,523,000 after acquiring an additional 3,600 shares in the last quarter. 59.62% of the stock is owned by hedge funds and other institutional investors.

About Lakeland Bancorp

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.