Raymond James & Associates Raises Holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Raymond James & Associates lifted its holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 67.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,576 shares of the financial services provider’s stock after buying an additional 7,470 shares during the quarter. Raymond James & Associates’ holdings in Lakeland Bancorp were worth $275,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of LBAI. Assenagon Asset Management S.A. purchased a new stake in shares of Lakeland Bancorp during the 3rd quarter worth $2,623,000. Trium Capital LLP purchased a new stake in Lakeland Bancorp during the third quarter worth about $1,784,000. American Century Companies Inc. grew its position in Lakeland Bancorp by 12.5% during 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 during the period. Charles Schwab Investment Management Inc. increased its holdings in Lakeland Bancorp by 11.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 630,141 shares of the financial services provider’s stock valued at $7,952,000 after buying an additional 66,192 shares in the last quarter. Finally, Wolverine Asset Management LLC lifted its position in shares of Lakeland Bancorp by 42.4% during the 3rd quarter. Wolverine Asset Management LLC now owns 142,835 shares of the financial services provider’s stock valued at $1,803,000 after acquiring an additional 42,542 shares during the period. Institutional investors and hedge funds own 59.62% of the company’s stock.

Lakeland Bancorp Price Performance

Lakeland Bancorp stock opened at $12.39 on Tuesday. Lakeland Bancorp, Inc. has a 1 year low of $10.65 and a 1 year high of $16.00. 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 50 day moving average price of $11.98 and a 200 day moving average price of $12.73. The company has a market cap of $807.26 million, a price-to-earnings ratio of 9.68 and a beta of 0.85.

Lakeland Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th will be paid a dividend of $0.145 per share. The ex-dividend date is Friday, April 26th. This represents a $0.58 annualized dividend and a dividend yield of 4.68%. Lakeland Bancorp’s dividend payout ratio is presently 45.31%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on LBAI shares. StockNews.com raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a report on Tuesday, April 23rd. Keefe, Bruyette & Woods lowered their price objective on shares of Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a research note on Tuesday, April 23rd.

Lakeland Bancorp 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.