13,596 Shares in Lakeland Bancorp, Inc. (NASDAQ:LBAI) Acquired by Creative Planning

Posted by on Oct 26th, 2023

Creative Planning bought a new position in Lakeland Bancorp, Inc. (NASDAQ:LBAI – Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 13,596 shares of the financial services provider’s stock, valued at approximately $182,000.

A number of other institutional investors also recently bought and sold shares of LBAI. Legal & General Group Plc raised its stake in Lakeland Bancorp by 2.0% in the 4th quarter. Legal & General Group Plc now owns 26,706 shares of the financial services provider’s stock worth $470,000 after acquiring an additional 530 shares during the last quarter. Great West Life Assurance Co. Can increased its holdings in Lakeland Bancorp by 26.1% in the 1st quarter. Great West Life Assurance Co. Can now owns 4,169 shares of the financial services provider’s stock worth $73,000 after buying an additional 863 shares during the period. Boothbay Fund Management LLC increased its holdings in Lakeland Bancorp by 0.9% in the 1st quarter. Boothbay Fund Management LLC now owns 95,710 shares of the financial services provider’s stock worth $1,497,000 after buying an additional 879 shares during the period. Ameritas Investment Partners Inc. increased its holdings in Lakeland Bancorp by 24.8% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,784 shares of the financial services provider’s stock worth $80,000 after buying an additional 950 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in Lakeland Bancorp by 3.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 33,345 shares of the financial services provider’s stock worth $587,000 after buying an additional 978 shares during the period. 59.84% of the stock is currently owned by institutional investors and hedge funds.

Lakeland Bancorp Stock Performance

LBAI opened at $11.03 on Thursday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.19. The company has a market cap of $717.28 million, a price-to-earnings ratio of 6.94 and a beta of 0.85. Lakeland Bancorp, Inc. has a 52-week low of $10.65 and a 52-week high of $20.02. The firm’s fifty day simple moving average is $12.71 and its two-hundred day simple moving average is $13.62.

Lakeland Bancorp (NASDAQ:LBAI – Get Free Report) last released its earnings results on Thursday, July 27th. The financial services provider reported $0.34 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.04). The business had revenue of $78.21 million for the quarter, compared to analysts’ expectations of $93.30 million. Lakeland Bancorp had a return on equity of 9.66% and a net margin of 22.43%. Equities analysts anticipate that Lakeland Bancorp, Inc. will post 1.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Lakeland Bancorp news, EVP Paul Ho-Sing-Loy sold 2,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $14.16, for a total transaction of $28,320.00. Following the completion of the sale, the executive vice president now owns 38,449 shares of the company’s stock, valued at $544,437.84. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 4.72% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on shares of Lakeland Bancorp in a report on Thursday, October 5th. They issued a “sell” rating on the stock.

Check Out Our Latest Research Report on Lakeland Bancorp

About Lakeland Bancorp

(Free Report)

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that offers various banking products and services for individuals and small to medium sized businesses. It provides commercial banking services, including savings, money market, and time accounts, as well as demand deposits.

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:LBAI – Free 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.