Paul Ho-Sing-Loy Sells 8,000 Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) Stock

Lakeland Bancorp, Inc. (NASDAQ:LBAI) EVP Paul Ho-Sing-Loy sold 8,000 shares of Lakeland Bancorp stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $12.54, for a total transaction of $100,320.00. Following the completion of the sale, the executive vice president now owns 40,763 shares in the company, valued at $511,168.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Lakeland Bancorp Stock Down 1.2 %

Lakeland Bancorp stock opened at $12.78 on Wednesday. The company’s 50-day moving average price is $12.05 and its two-hundred day moving average price is $12.77. The stock has a market cap of $832.62 million, a price-to-earnings ratio of 9.98 and a beta of 0.82. Lakeland Bancorp, Inc. has a 52 week low of $10.65 and a 52 week high of $16.00. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.44.

Lakeland Bancorp Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be issued a dividend of $0.145 per share. The ex-dividend date is Friday, April 26th. This represents a $0.58 annualized dividend and a yield of 4.54%. Lakeland Bancorp’s payout ratio is 45.31%.

Hedge Funds Weigh In On Lakeland Bancorp

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of Lakeland Bancorp by 1.0% in the third quarter. Vanguard Group Inc. now owns 3,611,587 shares of the financial services provider’s stock valued at $45,578,000 after buying an additional 34,769 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Lakeland Bancorp by 10.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 698,704 shares of the financial services provider’s stock valued at $10,334,000 after purchasing an additional 68,563 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Lakeland Bancorp by 12.5% during the 3rd quarter. American Century Companies Inc. now owns 616,378 shares of the financial services provider’s stock valued at $7,779,000 after purchasing an additional 68,593 shares in the last quarter. AQR Arbitrage LLC grew its stake in shares of Lakeland Bancorp by 2.4% in the 3rd quarter. AQR Arbitrage LLC now owns 509,266 shares of the financial services provider’s stock worth $6,427,000 after purchasing an additional 12,025 shares during the last quarter. Finally, Alpine Associates Management Inc. raised its holdings in shares of Lakeland Bancorp by 0.7% in the 4th quarter. Alpine Associates Management Inc. now owns 508,624 shares of the financial services provider’s stock worth $7,523,000 after purchasing an additional 3,600 shares in the last quarter. 59.62% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods cut their price target on Lakeland Bancorp from $16.65 to $14.15 and set a “market perform” rating on the stock in a report on Tuesday, April 23rd. StockNews.com upgraded Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday, April 23rd.

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.