Charles Schwab Investment Management Inc. Buys 68,563 Shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI)

Charles Schwab Investment Management Inc. grew its stake in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAIFree Report) by 10.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 698,704 shares of the financial services provider’s stock after buying an additional 68,563 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Lakeland Bancorp were worth $10,334,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Gateway Advisory LLC boosted its position in Lakeland Bancorp by 1.4% during the 3rd quarter. Gateway Advisory LLC now owns 94,326 shares of the financial services provider’s stock worth $1,190,000 after buying an additional 1,319 shares during the period. Swiss National Bank raised its stake in shares of Lakeland Bancorp by 1.2% during the third quarter. Swiss National Bank now owns 135,785 shares of the financial services provider’s stock valued at $1,714,000 after acquiring an additional 1,600 shares during the last quarter. Signaturefd LLC lifted its holdings in shares of Lakeland Bancorp by 212.5% during the fourth quarter. Signaturefd LLC now owns 2,597 shares of the financial services provider’s stock worth $38,000 after purchasing an additional 1,766 shares during the period. Lindbrook Capital LLC grew its stake in shares of Lakeland Bancorp by 4,356.0% in the fourth quarter. Lindbrook Capital LLC now owns 2,228 shares of the financial services provider’s stock worth $33,000 after purchasing an additional 2,178 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Lakeland Bancorp by 20.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,982 shares of the financial services provider’s stock valued at $207,000 after purchasing an additional 2,345 shares during the period. 59.62% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Bancorp Price Performance

Shares of NASDAQ LBAI opened at $13.43 on Friday. The company has a market capitalization of $874.96 million, a PE ratio of 10.49 and a beta of 0.82. 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, Inc. has a twelve month low of $10.65 and a twelve month high of $16.00. The firm has a fifty day simple moving average of $12.51 and a 200 day simple moving average of $12.95.

Lakeland Bancorp (NASDAQ:LBAIGet Free Report) last announced its quarterly earnings data on Friday, April 19th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Lakeland Bancorp had a return on equity of 7.34% and a net margin of 16.00%. The company had revenue of $67.65 million for the quarter. On average, sell-side analysts forecast that Lakeland Bancorp, Inc. will post 1.07 EPS for the current year.

Lakeland Bancorp Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 8th. Stockholders of record on Monday, April 29th were given a dividend of $0.145 per share. This represents a $0.58 annualized dividend and a dividend yield of 4.32%. The ex-dividend date of this dividend was Friday, April 26th. Lakeland Bancorp’s dividend payout ratio (DPR) is 45.31%.

Insider Activity

In related news, EVP Paul Ho-Sing-Loy sold 8,000 shares of the stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $12.54, for a total transaction of $100,320.00. Following the transaction, the executive vice president now directly owns 40,763 shares of the company’s stock, valued at $511,168.02. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.08% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com began coverage on Lakeland Bancorp in a report on Friday. They set a “sell” rating on the stock. Keefe, Bruyette & Woods cut their price objective on 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.

View Our Latest Analysis on LBAI

About Lakeland Bancorp

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding LBAI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lakeland Bancorp, Inc. (NASDAQ:LBAIFree Report).

Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

Receive News & Ratings for Lakeland Bancorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lakeland Bancorp and related companies with MarketBeat.com's FREE daily email newsletter.