News stories about Lakeland Bancorp (NASDAQ:LBAI) have been trending somewhat positive this week, Accern reports. Accern scores the sentiment of news coverage by analyzing more than 20 million news and blog sources. Accern ranks coverage of companies on a scale of negative one to one, with scores closest to one being the most favorable. Lakeland Bancorp earned a news impact score of 0.14 on Accern’s scale. Accern also gave headlines about the financial services provider an impact score of 45.9103544974097 out of 100, meaning that recent news coverage is somewhat unlikely to have an impact on the company’s share price in the near term.
LBAI has been the subject of several research reports. BidaskClub downgraded shares of Lakeland Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Zacks Investment Research upgraded shares of Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $22.00 price objective for the company in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.00.
Shares of Lakeland Bancorp (NASDAQ LBAI) opened at 20.50 on Thursday. The firm’s 50-day moving average is $19.13 and its 200 day moving average is $19.17. Lakeland Bancorp has a 1-year low of $13.15 and a 1-year high of $20.88. The stock has a market capitalization of $970.72 million, a P/E ratio of 19.75 and a beta of 0.82.
Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings results on Thursday, July 20th. The financial services provider reported $0.28 EPS for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.02. Lakeland Bancorp had a net margin of 23.94% and a return on equity of 9.21%. The company had revenue of $47.53 million for the quarter, compared to analyst estimates of $46.39 million. On average, analysts expect that Lakeland Bancorp will post $1.10 EPS for the current fiscal year.
In other news, Director Edward B. Deutsch sold 5,000 shares of Lakeland Bancorp stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $19.00, for a total value of $95,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Mark J. Fredericks sold 14,100 shares of Lakeland Bancorp stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $19.37, for a total transaction of $273,117.00. Following the completion of the transaction, the director now directly owns 203,496 shares in the company, valued at approximately $3,941,717.52. The disclosure for this sale can be found here. In the last three months, insiders sold 24,100 shares of company stock worth $468,117. Insiders own 6.20% of the company’s stock.
About Lakeland Bancorp
Lakeland Bancorp, Inc is the bank holding company for Lakeland Bank (Lakeland). Lakeland operates under a state bank charter and provides full banking services. Lakeland generates commercial, mortgage and consumer loans and receives deposits from customers located in Northern and Central New Jersey. Lakeland also provides non-deposit products, such as securities brokerage services, including mutual funds and variable annuities.
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