Lakeland Bancorp (NASDAQ:LBAI) Upgraded at StockNews.com

Lakeland Bancorp (NASDAQ:LBAI) was upgraded by research analysts at StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

Separately, Keefe, Bruyette & Woods cut their price objective on shares of Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating on the stock in a report on Tuesday, January 30th.

Lakeland Bancorp Stock Up 3.0 %

Shares of NASDAQ LBAI traded up $0.34 during trading hours on Wednesday, hitting $11.80. 480,710 shares of the stock were exchanged, compared to its average volume of 252,512. The company has a market cap of $767.47 million, a PE ratio of 9.22 and a beta of 0.85. Lakeland Bancorp has a 12 month low of $10.65 and a 12 month high of $16.14. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.44. The firm has a fifty day moving average price of $12.55 and a 200-day moving average price of $12.83.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, January 25th. The financial services provider reported $0.30 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.30. Lakeland Bancorp had a return on equity of 7.43% and a net margin of 16.42%. The firm had revenue of $72.09 million during the quarter. On average, sell-side analysts expect that Lakeland Bancorp will post 1.07 EPS for the current year.

Hedge Funds Weigh In On Lakeland Bancorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LBAI. Advisor Group Holdings Inc. raised its stake in shares of Lakeland Bancorp by 335.6% in the first quarter. Advisor Group Holdings Inc. now owns 3,197 shares of the financial services provider’s stock worth $54,000 after purchasing an additional 2,463 shares during the last quarter. Bank of New York Mellon Corp raised its position in Lakeland Bancorp by 18.7% during the 1st quarter. Bank of New York Mellon Corp now owns 341,162 shares of the financial services provider’s stock worth $5,698,000 after buying an additional 53,844 shares during the last quarter. HighTower Advisors LLC purchased a new stake in shares of Lakeland Bancorp in the 1st quarter valued at $865,000. MetLife Investment Management LLC raised its holdings in shares of Lakeland Bancorp by 93.5% during the first quarter. MetLife Investment Management LLC now owns 32,726 shares of the financial services provider’s stock worth $547,000 after purchasing an additional 15,810 shares during the last quarter. Finally, Rhumbline Advisers lifted its position in Lakeland Bancorp by 4.7% during the first quarter. Rhumbline Advisers now owns 75,766 shares of the financial services provider’s stock valued at $1,265,000 after purchasing an additional 3,389 shares during the period. Hedge funds and other institutional investors own 59.62% of the company’s stock.

Lakeland Bancorp Company 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.