Lakeland Bancorp, Inc. (NASDAQ:LBAI) Receives Average Rating of “Hold” from Analysts

Lakeland Bancorp, Inc. (NASDAQ:LBAI) has been assigned a consensus rating of “Hold” from the six research firms that are currently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $21.25.

Several analysts have recently weighed in on LBAI shares. Boenning Scattergood restated a “buy” rating and set a $74.00 target price on shares of Argo Group in a research note on Tuesday, April 30th. BidaskClub upgraded Zai Lab from a “buy” rating to a “strong-buy” rating in a research note on Friday, June 28th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research note on Wednesday, July 3rd. ValuEngine upgraded Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a research note on Tuesday, April 30th. Finally, FIG Partners restated an “outperform” rating on shares of Lakeland Bancorp in a research note on Monday, May 6th.

Several institutional investors have recently made changes to their positions in LBAI. Banc Funds Co. LLC lifted its position in shares of Lakeland Bancorp by 25.3% during the first quarter. Banc Funds Co. LLC now owns 1,420,028 shares of the financial services provider’s stock worth $21,201,000 after purchasing an additional 286,852 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Lakeland Bancorp by 5.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,900,242 shares of the financial services provider’s stock worth $42,952,000 after purchasing an additional 150,529 shares during the last quarter. Context BH Capital Management LP bought a new position in shares of Lakeland Bancorp during the first quarter worth about $2,085,000. BlackRock Inc. lifted its position in shares of Lakeland Bancorp by 3.6% during the fourth quarter. BlackRock Inc. now owns 3,286,931 shares of the financial services provider’s stock worth $48,680,000 after purchasing an additional 113,157 shares during the last quarter. Finally, Assenagon Asset Management S.A. bought a new position in shares of Lakeland Bancorp during the first quarter worth about $1,583,000. Institutional investors own 55.09% of the company’s stock.

NASDAQ LBAI traded up $0.14 during trading hours on Tuesday, hitting $16.32. The company had a trading volume of 90,108 shares, compared to its average volume of 194,613. Lakeland Bancorp has a fifty-two week low of $13.77 and a fifty-two week high of $20.85. The stock has a market cap of $823.20 million, a P/E ratio of 12.18 and a beta of 0.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.96 and a quick ratio of 0.96. The business’s 50 day moving average is $15.88.

Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Monday, April 29th. The financial services provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. Lakeland Bancorp had a return on equity of 10.34% and a net margin of 25.63%. The firm had revenue of $54.33 million during the quarter, compared to the consensus estimate of $53.67 million. As a group, equities analysts predict that Lakeland Bancorp will post 1.43 EPS for the current fiscal year.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides various banking products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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