Lakeland Bancorp, Inc. (NASDAQ:LBAI) Shares Sold by Foundry Partners LLC

Foundry Partners LLC lessened its holdings in shares of Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 222,875 shares of the financial services provider’s stock after selling 4,000 shares during the quarter. Foundry Partners LLC owned approximately 0.34% of Lakeland Bancorp worth $3,296,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lindbrook Capital LLC increased its stake in Lakeland Bancorp by 4,356.0% during 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 period. Signaturefd LLC grew its position 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 buying an additional 1,766 shares in the last quarter. Quantbot Technologies LP acquired a new position in shares of Lakeland Bancorp during the third quarter worth about $64,000. Ibex Wealth Advisors acquired a new position in shares of Lakeland Bancorp during the third quarter worth about $168,000. Finally, Aigen Investment Management LP grew its position in shares of Lakeland Bancorp by 31.5% during the third quarter. Aigen Investment Management LP now owns 14,690 shares of the financial services provider’s stock worth $185,000 after buying an additional 3,518 shares in the last quarter. Institutional investors and hedge funds own 59.62% of the company’s stock.

Lakeland Bancorp Stock Performance

Shares of LBAI opened at $12.60 on Tuesday. The stock has a 50 day moving average price of $11.97 and a 200 day moving average price of $12.72. 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 company has a market capitalization of $820.89 million, a price-to-earnings ratio of 9.84 and a beta of 0.85. Lakeland Bancorp, Inc. has a 52-week low of $10.65 and a 52-week high of $16.00.

Lakeland Bancorp (NASDAQ:LBAI) last announced its quarterly earnings results on Thursday, January 25th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.30. The firm had revenue of $72.09 million during the quarter. Lakeland Bancorp had a return on equity of 7.40% and a net margin of 16.00%. Research analysts predict that Lakeland Bancorp, Inc. will post 1.07 EPS for the current fiscal year.

Lakeland Bancorp Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Monday, April 29th will be issued a $0.145 dividend. This represents a $0.58 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date is Friday, April 26th. Lakeland Bancorp’s dividend payout ratio (DPR) is 45.31%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. StockNews.com raised Lakeland Bancorp from a “sell” rating to a “hold” rating in a research report on Tuesday. Keefe, Bruyette & Woods lowered their price objective on Lakeland Bancorp from $17.50 to $16.65 and set a “market perform” rating for the company in a research report on Tuesday, January 30th.

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.