ValuEngine Downgrades Lakeland Bancorp (LBAI) to Sell

ValuEngine cut shares of Lakeland Bancorp (NASDAQ:LBAI) from a hold rating to a sell rating in a research report released on Wednesday, September 12th.

LBAI has been the subject of several other research reports. BidaskClub upgraded shares of Lakeland Bancorp from a hold rating to a buy rating in a research report on Monday, May 21st. Zacks Investment Research upgraded shares of Lakeland Bancorp from a sell rating to a hold rating in a research report on Tuesday, August 21st. Boenning Scattergood assumed coverage on shares of Lakeland Bancorp in a research report on Monday, September 10th. They set a neutral rating for the company. Finally, Keefe, Bruyette & Woods reiterated a buy rating and set a $23.50 price target on shares of Lakeland Bancorp in a research report on Wednesday, August 1st. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and an average target price of $21.17.

LBAI traded down $0.17 during midday trading on Wednesday, hitting $17.84. The company had a trading volume of 190,590 shares, compared to its average volume of 113,575. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.50. The stock has a market capitalization of $857.11 million, a PE ratio of 16.07 and a beta of 0.82. Lakeland Bancorp has a twelve month low of $17.38 and a twelve month high of $21.90.

Lakeland Bancorp (NASDAQ:LBAI) last posted its quarterly earnings data on Thursday, July 26th. The financial services provider reported $0.33 earnings per share for the quarter, meeting the consensus estimate of $0.33. The firm had revenue of $49.20 million during the quarter, compared to analysts’ expectations of $49.07 million. Lakeland Bancorp had a net margin of 26.02% and a return on equity of 9.99%. On average, research analysts predict that Lakeland Bancorp will post 1.34 EPS for the current year.

Large investors have recently modified their holdings of the company. Royal Bank of Canada grew its position in shares of Lakeland Bancorp by 200.8% during the 1st quarter. Royal Bank of Canada now owns 6,453 shares of the financial services provider’s stock worth $128,000 after buying an additional 4,308 shares during the period. Strs Ohio acquired a new stake in shares of Lakeland Bancorp during the 2nd quarter worth approximately $168,000. Alpine Woods Capital Investors LLC acquired a new stake in shares of Lakeland Bancorp during the 1st quarter worth approximately $199,000. Xact Kapitalforvaltning AB boosted its stake in Lakeland Bancorp by 30.2% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,353 shares of the financial services provider’s stock worth $265,000 after acquiring an additional 3,100 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new position in Lakeland Bancorp during the 1st quarter worth approximately $300,000. Institutional investors own 54.46% of the company’s stock.

About Lakeland Bancorp

Lakeland Bancorp, Inc operates as the bank holding company for Lakeland Bank that provides financial products and services for individuals and small to medium sized businesses. It offers commercial banking services, including savings, money market, and time accounts, as well as demand deposits; lending solutions, such as short and medium term loans, lines of credit, letters of credit, inventory and accounts receivable financing, real estate construction loans, mortgage loans, small business administration loans, commercial real estate loans, commercial and industrial loans, and equipment financing, as well as merchant credit card services; and Internet banking, mobile banking, wire transfer, night depository, and cash management services.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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