Systematic Financial Management LP Sells 21,847 Shares of Lakeland Bancorp, Inc. (LBAI)

Systematic Financial Management LP decreased its holdings in Lakeland Bancorp, Inc. (NASDAQ:LBAI) by 2.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,005,058 shares of the financial services provider’s stock after selling 21,847 shares during the quarter. Systematic Financial Management LP owned about 2.12% of Lakeland Bancorp worth $20,503,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of LBAI. Teachers Advisors LLC boosted its position in shares of Lakeland Bancorp by 5.6% in the 1st quarter. Teachers Advisors LLC now owns 82,621 shares of the financial services provider’s stock worth $1,619,000 after purchasing an additional 4,356 shares in the last quarter. Legal & General Group Plc raised its stake in Lakeland Bancorp by 5.9% in the 1st quarter. Legal & General Group Plc now owns 9,989 shares of the financial services provider’s stock worth $195,000 after acquiring an additional 559 shares during the last quarter. Vanguard Group Inc. raised its stake in Lakeland Bancorp by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 1,837,832 shares of the financial services provider’s stock worth $36,022,000 after acquiring an additional 56,392 shares during the last quarter. Geode Capital Management LLC raised its stake in Lakeland Bancorp by 15.4% in the 1st quarter. Geode Capital Management LLC now owns 340,689 shares of the financial services provider’s stock worth $6,677,000 after acquiring an additional 45,466 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Lakeland Bancorp by 48.5% in the 1st quarter. Renaissance Technologies LLC now owns 398,900 shares of the financial services provider’s stock worth $7,818,000 after acquiring an additional 130,300 shares during the last quarter. 52.64% of the stock is owned by hedge funds and other institutional investors.

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Lakeland Bancorp, Inc. (NASDAQ LBAI) traded up $0.30 during midday trading on Tuesday, hitting $20.15. The company’s stock had a trading volume of 53,500 shares, compared to its average volume of 143,024. The stock has a market cap of $939.95, a price-to-earnings ratio of 18.21 and a beta of 0.80. Lakeland Bancorp, Inc. has a twelve month low of $15.06 and a twelve month high of $21.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.95 and a quick ratio of 0.95.

Lakeland Bancorp (NASDAQ:LBAI) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.29 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.28 by $0.01. The business had revenue of $47.57 million during the quarter, compared to analyst estimates of $47.79 million. Lakeland Bancorp had a return on equity of 9.12% and a net margin of 24.54%. sell-side analysts expect that Lakeland Bancorp, Inc. will post 1.12 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were given a dividend of $0.10 per share. This represents a $0.40 dividend on an annualized basis and a dividend yield of 1.99%. The ex-dividend date was Friday, November 3rd. Lakeland Bancorp’s dividend payout ratio (DPR) is presently 36.70%.

Separately, Zacks Investment Research upgraded Lakeland Bancorp from a “hold” rating to a “buy” rating and set a $22.00 target price for the company in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $22.00.

In related news, Director Edward B. Deutsch sold 5,000 shares of Lakeland Bancorp stock in a transaction dated Wednesday, September 20th. The stock was sold at an average price of $19.00, for a total value of $95,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Robert A. Vandenbergh sold 12,738 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $20.56, for a total value of $261,893.28. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.

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.

Institutional Ownership by Quarter for Lakeland Bancorp (NASDAQ:LBAI)

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