Lakeland Bancorp, Inc. (NASDAQ:LBAI) Director Edward B. Deutsch sold 3,276 shares of Lakeland Bancorp stock in a transaction on Monday, November 20th. The stock was sold at an average price of $20.00, for a total value of $65,520.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Edward B. Deutsch also recently made the following trade(s):
- On Wednesday, September 20th, Edward B. Deutsch sold 5,000 shares of Lakeland Bancorp stock. The stock was sold at an average price of $19.00, for a total value of $95,000.00.
Shares of Lakeland Bancorp, Inc. (NASDAQ LBAI) traded down $0.20 during mid-day trading on Friday, reaching $19.95. The company had a trading volume of 26,141 shares, compared to its average volume of 117,747. The firm has a market capitalization of $954.16, a PE ratio of 18.49 and a beta of 0.80. Lakeland Bancorp, Inc. has a 52-week low of $15.06 and a 52-week high of $21.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.95 and a current ratio of 0.95.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 15th. Stockholders of record on Monday, November 6th were issued a $0.10 dividend. The ex-dividend date was Friday, November 3rd. This represents a $0.40 dividend on an annualized basis and a dividend yield of 2.01%. Lakeland Bancorp’s dividend payout ratio (DPR) is 36.70%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. raised its holdings in shares of Lakeland Bancorp by 17.6% in the second quarter. Victory Capital Management Inc. now owns 9,108 shares of the financial services provider’s stock worth $172,000 after acquiring an additional 1,366 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Lakeland Bancorp by 5.9% in the first 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. Palouse Capital Management Inc. acquired a new position in shares of Lakeland Bancorp in the third quarter worth $206,000. Verus Financial Partners Inc. raised its holdings in shares of Lakeland Bancorp by 0.5% in the second quarter. Verus Financial Partners Inc. now owns 11,735 shares of the financial services provider’s stock worth $221,000 after acquiring an additional 61 shares during the last quarter. Finally, Virginia Retirement Systems ET AL acquired a new position in shares of Lakeland Bancorp in the second quarter worth $228,000. 52.64% of the stock is owned by institutional investors.
Separately, Zacks Investment Research cut Lakeland Bancorp from a “buy” rating to a “hold” rating in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. Lakeland Bancorp currently has an average rating of “Hold” and a consensus target price of $22.00.
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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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